Television personality Jim Cramer has reportedly warned investors to avoid the Nasdaq 100 stocks while highlighting the worst-performing stocks in the quarter.
“These seven biggest losers from the third quarter are simply representative of the House of Pain the index has become. By the way, if you’re living in a house of pain, you should move,” Cramer said according to CNBC.
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Although he noted that there are a few stocks in the index he believes are still great, but maintained the index is filled with “woe and hurt,” the report said.
The following are Cramer’s takes on the index’s biggest losers according to the report:
1. Okta Inc OKTA: According to Cramer, the current environment is “brutal” for the company, and he thinks it may not change anytime soon.
2. Charter Communications Inc CHTR: Cramer said the company’s lack of growth may mean its stock price is going nowhere.
3. Zoom Video Communications Inc ZM: Cramer pointed out that while the company’s market capitalization is too high, its earnings momentum is too low.
4. Match Group Inc MTCH: Cramer reportedly said, “Those guys suffer from an inability to forecast, a problem that seems to afflict the whole dating industry.”
5. Intel Corporation INTC: According to Cramer, Intel may be struggling with a slowing personal computer market.
6. Comcast Corporation CMCSA: Cable companies aren’t having a good time as the market wants no part in it, he said.
7. Adobe Inc ADBE: Cramer believes Adobe’s a “fantastic” company but stated that bears have no patience for software firms that have slowing growth rates.
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