After a tough trading day on Wall Street, CNBC’s Jim Cramer said the market is giving investors the opportunity to find stocks that are good buys.
“There was a cruel sale today, but as we saw in the industry between the morning and the end of the day, we are in one of the largest second chance markets we have ever seen.” Told. The host of “Mad Money” said.
Shares on Tuesday were mixed sessions, with the Dow rising at the closing price and the S & P 500 falling 0.7%. The high-tech Nasdaq Composite index has fallen by nearly 2%.
“This is countless, but it’s very hard for people to remember that when a stock is collapsing, you’re supposed to buy instead of sell,” Cramer said.
Kramer pointed out the deal of drug stocks in order to make an allegation against selling in the face of sold out. Shares in Merck, Bristol Myers Squibb and Eli Lilly bounced after missing a quote in last week’s quarterly earnings report, he said.
“I think the Eli Lilly we own for charity trusts represent real value compared to other markets,” he said. “When Lily makes a lot of money and the stock is crushed by bad tape, you have to buy it. Apparently, many money managers agree that it’s going to get together today.”
Eli Lilly shares closed at $ 188.20 after rising 1.2% on Tuesday. Kramer suggested that Eli Lilly’s move to approve a $ 5 billion buyback on Monday could be a turning point for stocks that have fallen more than 11% since late January.
Disclosure: Cramer’s Charity Trust owns a stake in Eli Lilly.
Jim Cramer advises investors to buy instead of sell after Tuesday’s sale
Source link Jim Cramer advises investors to buy instead of sell after Tuesday’s sale