Cramer lists 6 e-commerce plays that are purchases, says wait for Amazon

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Cramer says the pain in e-commerce stocks is temporary

CNBC’s Jim Cramer offered investors Friday a list of e-commerce games he thinks are worth buying despite the group’s rough performance in 2022.

“There are still some e-commerce games that I stand behind, the ones that have really prioritized profitability,” he said.

Here’s his list:

  1. Etsy
  2. Shopify
  3. pinterest
  4. MercadoLibre
  5. Tough
  6. Prologis

E-commerce shares skyrocketed during the height of the Covid pandemic as consumers made purchases at home rather than in stores. But as the economy picked up again, consumers prioritized travel and experiences over goods.

That shift, along with the Federal Reserve’s interest rate hikes, caused e-commerce stocks to plummet from their highs last year.

Cramer cautioned that while he believes the group’s struggles are temporary, it’s too early to buy many of the names in the e-commerce space, including Amazon.

He said one of his biggest concerns with the company is that it needs to cut more costs. Amazon said earlier this month that it plans to lay off more than 18,000 employees.

While that may seem like a hefty cut, “this is a company with over a million employees — for them, this is a drop in the ocean,” Cramer said.

But Amazon’s stock will eventually bottom out, he said. “I think eventually the company can make a big comeback and there will come a point where the stock is a screaming buy.”

Disclaimer: Cramer’s Charitable Trust owns stock in Amazon.

Jim Cramer shares his thoughts on e-commerce stocks

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