CNBC’s Jim Kramer said Monday that he believes investors who continue to sell shares over Covid fears are making a mistake at this stage of the pandemic.
“If you dump stocks because you are worried about Covid re-igniting, you will be left behind as this market grows at the end of the year,” said the Mad Money presenter.
Kramer was referring to Friday’s activity on Wall Street, when the Dow Jones Industrial Average fell 0.75%. The decline came as investors around the world were faced with news that Austria would reintroduce total national isolation due to a sharp rise in the number of Covid cases.
Kramer said the coronavirus remains a public health threat while urging Americans to sign up for vaccines. However, he argued that from an economic point of view, investors should accept that “the worst of the pandemic is behind us.”
People who are ditching travel and leisure promotions right now are “creating amazing shopping opportunities,” he said.
“Big box stores have their own inventory. Many of the smaller stores are no longer a factor because they were actually destroyed last year. They are either Etsy or famous players. The planes are full again. The journey is insanely busy … The only people who haven’t received the note are the salespeople. I think they are making a big mistake. “
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