CNBC’s Jim Cramer said Monday he believes investors who continue to sell stocks due to Covid fears are making a mistake at this point in the pandemic.
“If you’re dumping stocks because you’re worried about a re-ignition of Covid, you’re going to get left behind as this market grinds higher into year-end,” the “Mad Money” host said.
Cramer was referring back to Friday’s action on Wall Street, when the Dow Jones Industrial Average fell 0.75%. The decline came as investors globally grappled with news that Austria would re-enter a full national lockdown because of a jump in Covid cases.
The coronavirus remains a threat from a public-health perspective, Cramer said, while encouraging Americans to sign up for vaccine booster shots. However, he contended from an economic standpoint, investors need to recognize “the worst of the pandemic is over.”
Individuals who are dumping travel and leisure stocks right now, in particular, “are creating terrific buying opportunities” for others, he said.
“The big box stores got their inventory. Many of the smaller stores are no longer a factor because they actually got wiped out last year. It’s either Etsy or established players. The planes are full again. Travel’s insanely busy. … The only people who didn’t get the memo are the sellers. I think they’re making a big mistake.”
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