Despite a choppy start to the year, the Dow Jones Industrial Average is up more than 3% year-to-date and up about 4% since it seemingly bottomed out less than six months ago.
After a tumultuous 2022, battle-tested investors are looking for bargains -- depressed stocks with potential room to run -- and CNBC's Jim Cramer has a list of 10 he thinks are trading at the right price.
“Consider me intrigued, but only if we have a couple more down days like today (Weds.) that give you a better buying opportunity because these stocks have all been overbought,” Cramer said, according to CNBC.
Those stocks include:
- Tesla
- Warner Bros. Discovery
- Meta Platforms
- Nvidia
- Royal Caribbean
- Carnival
- Norwegian Cruise
- Catalent
- Align Technology
- SVB Financial
“These stocks could have more room to run, especially if you think they were driven down to artificially low levels by tax-loss selling or artificial dumping,” Cramer said.
Stocks to Stay Away From
It's never completely smooth sailing when it comes to the stock market, so while there are some securities that are ready to rally, there are still pitfalls investors should look out for, according to Cramer.
Cramer warned investors to stay away from many stocks that have already rallied this year after falling sharply in 2022. They should especially stay away from stocks that were shorted heavily.
He named online used car marketplace Carvana (CVNA) and cloud-based AI lending platform Upstart (UPST) as two names he would stay away from.
"The fundamentals -- they're just too ugly," he stated.
