In Jim Cramer’s world, there are some stocks that just won’t be abandoned.
The “hold, don’t trade” designation has only been given to a few stocks in Cramer’s book – NvidiaNVDAbeing a prime example, but the move in a couple of blue-chip stocks this week has irked the CNBC contributor.
Related: Amazon Profits Beat Street Forecasts, But Holiday Sales Outlook Weak
“I can’t believe all the people who just a few days ago left AmazonAMZNup to $117 and on TargetGOALup to $289,” Cramer tweeted this week.
Amazon shares soared last week following a strong earnings advance, but concerns about the company’s weak holiday season prospects sent the stock down for a short period.
Although the crisis was very brief and the shares have risen more than 15% in the last five days, Cramer was disappointed by the reaction of selling investors, who, in his opinion, should know better.
“Honestly, it’s very important to keep a calm head and not get swept up in the tsunami of sales by scared people who haven’t done the work. Take a look at what we bought today. It was all just thrown away.” Cramer said.
Meanwhile, Meta shares also fell last weekfollowing the release of its results even though it also reported higher-than-expected numbers and announced plans to cut spending.
The group’s revenue rose 23.2%, the best growth rate in two years, to $34.15 billion, while monthly and daily active users of its ‘family of apps’, including WhatsApp, Facebook and Instagram, increased 7% compared to last year.
Looking at the current quarter, Meta said it sees revenue in the region of $36.5 billion to $40 billion, a range that topped the Street forecast of $38 billion.
However, unlike Amazon, Meta stock continues to feel negative market pressure, falling another 0.9% on Thursday after shares rose 3% over the past five sessions.
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