Jim Cramer: buy these stocks to play China reopening
China is easing COVID restrictions after two months of lockdown, which, as per Jim Cramer, warrants buying a bunch of U.S. stocks.
Cramer says Nike Inc will benefitCopy link to section
Nike is doing underpromise, overdeliver. I believe they’ll have an outstanding next three months in China. They have the right inventory too. I think people selling Nike Inc here are going to regret it. It’s very rear-view.
Even with China in lockdown, the sports apparel and footwear company reported better-than-expected results for its fiscal fourth quarter. Wall Street, on average, sees a 35% upside in Nike shares.
Cramer recommends buying DisneyCopy link to section
Another big cap name that Cramer is convinced will benefit from China coming back online, is the Walt Disney Co (NYSE: DIS) that’s down just under 40% versus the start of 2022. He said:
Chinese have been locked up. I think they’re pent up to go out. They want to go to the Disney World. Chapek is a parks guy. Disney right now is the most hated stock in the world and yet that’s the one I think could be the best.
The multinational’s Disneyland in Shanghai is set to reopen this Thursday. A few of the other names Cramer likes to play “China” right now include Starbucks and Yum China.
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