- CNBC’s Jim Cramer on Monday listed four stocks he thinks have momentum, powered by excitement from retail investors.
- Cramer named Palantir, AppLovin, Robinhood and Coinbase.
- “There’s the S&P 500, and then there’s this handful of stocks that retail investors have anointed and relentlessly taken up, without any real bounds,” he said.
CNBC’s
Jim Cramer
on Monday listed four stocks he thinks have momentum, powered by excitement from retail investors —
Palantir
,
AppLovin
,
Robinhood
and
Coinbase
— dubbing the group “PARC.”
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“These PARC names are emblematic of how stocks have devolved into a two-track market,” he said. “There’s the S&P 500, and then there’s this handful of stocks that retail investors have anointed and relentlessly taken up, without any real bounds.”
Cramer conceded that these stocks pulled back and “took a breather” during Monday’s session, but he said they’re likely to bounce back. These companies are the best of a group of more trendy names that have caught the attention of a number of retail investors, Cramer said, because they seem to have solid earnings and attention from analysts.
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However, he suggested that metric doesn’t seem to matter much to buyers, some of whom are “irrational believers in these companies.” A number of retail investors are especially interested in stocks related to quantum computing, cryptocurrency and rockets, Cramer continued. He named outfits including
Strategy
,
Oklo
,
Rocket Lab
,
Rigetti Computing
,
QuantumScape
,
Joby Aviation
and
Circle Internet
.
According to Cramer, investors can pick some of these stocks to own “as long as you don’t flood the zone with them.” There is money to be made in these names, he continued, but it’s important that investors exercise discipline and “take something off the table” when they reap a big gain.
“Aside from occasional pit stops like today, the PARC stocks just keep running,” he said. “And until we see a wave of new IPOs creating a supply glut and a ton of insider selling, I wouldn’t be surprised if they continue to rally.”
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