Jim Cramer says, ‘We all gotta calm down,’ and investors should be on the lookout for the best buying opportunities in this ’emotional’ market.
This is one of the most emotional markets Jim Cramer has ever seen, he told his Mad Money viewers Thursday. Every day, it’s another wave of bizarre mood swings where investors love a stock and send it into the stratosphere or hate it and pummel it into the ground. “We all gotta calm down,” Cramer said, as he urged viewers to not let emotions cloud their judgement.
The reality is that some companies are doing well, while others are doing horribly. There are more horrible ones than there used to be, but overall, things are still going OK for most of our economy. Cramer told viewers to use any strength to take profits and raise cash, so they can take advantage of day like Thursday when the whole market panics.
Much of today’s declines stemmed from one company, one formerly known as Facebook — Meta Platforms (FB) – Get Meta Platforms Inc. Class A Report. It’s no secret that Facebook’s targeted ads are a lot less targeted now that Apple (AAPL) – Get Apple Inc. Report has taken a tough stance on user privacy. Apple’s changes didn’t appear to affect companies like Alphabet (GOOGL) – Get Alphabet Inc. Class A Report, but they found their intended target of Facebook.
Despite these problems, Cramer said he’s sticking with Facebook because the company has a war chest of cash, and has dealt with problems like these before. If you want local advertising, Facebook is still the platform of choice.
That doesn’t mean you should run out and buy Facebook, or Meta Platforms, however, as the institutional selling in the stock is so extensive it can’t be completed in a single day. Investors must be patient and wait for the stock to find a bottom.
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