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CNBC’s Jim Cramer Monday cautioned investors against dumping high-quality stocks in a market he says is being driven more by fear rather than fundamentals.
“Stocks go down for all sorts of reasons, some good, some bad. Lately we’ve had a lot of bad, and tonight I want to straighten some things out,” Cramer said on “Mad Money.” “Because a bad tape causes individuals to dump great stocks, usually when they should be buying more.”
Stocks ended Monday mostly lower reversing early gains and ended a bit off session lows. The S&P 500 and Nasdaq finished 0.39% and 0.73% lower while the Dow Jones Industrial Average eked out a 0.11% gain.
While the broader market gave up early gains despite rising oil prices, Cramer said the bigger story is the disconnect between stock moves and underlying business realities — especially in technology.
