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Cramer names 6 e-commerce plays which can be buys, says to attend on Amazon

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CNBC’s Jim Cramer on Friday offered investors an inventory of e-commerce plays he believes are price buying, despite the group’s rough performance in 2022.

“There are still some e-commerce plays that I’m willing to get behind here, those which have truly prioritized profitability,” he said.

Here is his list: 

  1. Etsy
  2. Shopify
  3. Pinterest
  4. MercadoLibre
  5. Chewy
  6. Prologis

E-commerce stocks skyrocketed throughout the height of the Covid pandemic, as at-home consumers made purchases online moderately than in-store. But when the economy reopened, consumers prioritized spending on travel and experiences over goods.

That shift, together with the Federal Reserve’s rate of interest hikes, sent e-commerce stocks tumbling from their highs last 12 months.

Cramer cautioned that while he believes the group’s struggles are temporary, it’s still too early to purchase most of the names within the e-commerce space — including Amazon

He said that one in all his biggest concerns with the corporate is that it needs to chop more costs. Amazon said earlier this month that it plans to put off over 18,000 employees. 

While which may seem to be a large cut, “it is a company with well over 1,000,000 employees — to them, it is a drop within the bucket,” Cramer said.

But Amazon’s stock will eventually bottom, he said. “I believe the business can eventually make a giant comeback and there’ll come a degree where the stock’s a screaming buy.”

Disclaimer: Cramer’s Charitable Trust owns shares of Amazon.

Jim Cramer gives his take on e-commerce stocks

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