Jim Kramer warns that investors are still betting on high-growth technology stocks

CNBC’s Jim Cramer warned investors Thursday that buying dips in high-growth technology stocks is a losing strategy in today’s turbulent market.

“The era of tempo, lift and buy no matter… for previously high-growth stocks is over. There are still plenty of other stocks out there, but if you’re still betting it bounces back… I don’t think it will work,” themad money‘ said the host.

Growth stocks are particularly vulnerable to inflation, Cramer said, as it affects the value of future earnings.

“You might think these companies are the greatest things since slicing bread, but the professionals know they don’t have to pay that much for unprofitable slices of bread when there’s an inflation spiral,” the host added.

Cramer said falls into shares octa And the snowflake — whose CEO was Mad Money on Wednesday night — was the last straw for investors buying up volatile high-growth technology stocks and trying to make money later.

Both stocks fell Thursday after fourth-quarter earnings were announced the previous day. Okta shares fell 8.06% while Snowflake slid 15.37%.

“Given that there are far too many followers of the momentum camp and that many ETFs focus on [cloud and cybersecurity] Business it covers [Snowflake and Okta]Both of those names, Cramer said, have virtually destroyed the proverbial “mysterious buyers and high-growth stock chasers.”

The host added that he believes many of these buyers have already exited the market.

“The momentum is lost, the charts are crashing…they have lost a lot of money,” he said.

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