For weeks, CNBC’s Jim Cramer has announced that new public companies have fallen into disfavor at the Wall Street fashion show as investors recalibrate to a more hawkish Federal Reserve. He urges people to stay away from the group.
But in the end, the “Mad Money” host said Thursday, the “random sale” in the cohort will offer at least some buying opportunities. “When that happens, be aware that the market has fallen far enough that there are actually a few companies that can … be interesting,” Cramer said.
For that reason, Cramer on Thursday offered a list of stocks that he thinks investors should have on their radar. They meet all of the following criteria:
- Was listed in 2021 through a traditional listing, direct listing or reverse merger with a SPAC
- Positive earnings estimates for 2022 and expected earnings growth in 2023
- Quality balance
- Price in relation to earnings of 30 or less
Using these criteria, the universe of new public companies shrank from 649 to just 61. From there, Cramer said he would only highlight the 12 stocks he believes are notable. Here is the list:
- Perella Weinberg Partners
- Solo brands
- F45 Training
- Xponentiel fitness
- Sun Country Airlines
- Open lending
“The recent IPOs and SPAC shares are still in the doghouse; I do not see that changing any time soon,” Cramer warned. “But it’s never too early to start keeping an eye on those that can make sense as long-term investments.”
Disclosure: Jim Cramer is represented by the talent agency Endeavor.
sign up now for CNBC Investing Club to follow Jim Cramers every move on the market.