The stock market turned around in the later part of the week after the October inflation print came in tamer than expected.
What Happened: CNBC’s “Mad Money” host Jim Cramer on Friday said he would recommend using the rebound seen in cloud stocks as a “rare opportunity” to sell them into strength.
“That said, some of them might be worth keeping, but only the highest quality names,” the stock picker said.
″If you were trapped in these things, this is giving you a chance to get out," he added.
Cloud Stocks To Own: Cramer recommended CrowdStrike Holdings, Inc. CRWD, Datadog, Inc. DDOG and ServiceNow, Inc. NOW.
He also named Salesforce, Inc. CRM and Workday, Inc. WDAY as stocks he likes but doesn’t necessarily recommend.
The curated list comes from the components of the WisdomTree Cloud Computing Fund WCLD of which he eliminated companies having a market cap below $1 billion, expected to be unprofitable in 2023, only tangentially related to cloud and having a sum of revenue growth and profit margin less than 40%.
The WisdowTree Cloud Computing Fund closed Friday's session 5.12% higher at $27.30, according to Benzinga Pro data.
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Photo: Courtesy of Scott Beale on flickr
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