CNBC’s Jim Cramer on Wednesday offered investors a list of stocks that he believes could bounce soon.
“The S&P ’s down almost 25% for the year, and we’ve gone eleven months since the bear market began. The average bear market only lasts for about 13 months. So maybe we have an expiration date coming up and soon, some of these are going to pop,” he said.
To come up with the companies, he reviewed the S&P 500’s new 52-week low list. Here are his picks:
- Bank of America
- JPMorgan Chase
- Domino’s Pizza
- Yum! Brands
- Stanley Black & Decker
- S&P Global
- American Tower
- Crown Castle
- SBA Communications
- Mid-America Apartment Communities
Markets have declined considerably this year due to Russia’s invasion of Ukraine, soaring inflation, the Fed’s rate hikes and recession worries.
Cramer said that despite the market’s downturn, PepsiCo‘s revenue and earnings beat for its latest quarter reported Wednesday proves that beaten-down stocks of exceptional companies can bounce.
Shares of PepsiCo gained 4% on Wednesday.
“I’m just trying to give you a more constructive perspective based on the prism of PepsiCo, a pathetic also-ran that suddenly turned into a big winner, and I think PepsiCo, by the way, is just getting started,” he said.