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Investors Selling Shares Over Covid Fears Will Be Left Behind

CNBC’s Jim Cramer said on Monday that he believed investors who continued to sell shares due to Covid fears were making a mistake at this point in the pandemic.

“If you throw away inventory because you fear a reignition of Covid, you’re going to be left behind as this market skyrockets towards the end of the year,” said the host of ‘Mad Money’.

Cramer was referring to Friday’s action on Wall Street, when the Dow Jones Industrial Average fell 0.75%. The drop came as investors around the world grappled with news that Austria would revert to a full nationwide lockdown due to an increase in Covid cases.

The coronavirus remains a threat from a public health perspective, Cramer said, while encouraging Americans to sign up for vaccine boosters. However, he argued from an economic point of view, investors must recognize that “the worst of the pandemic is over”.

Individuals who are currently clearing their stocks of travel and leisure, in particular, “create tremendous buying opportunities” for others, he said.

“Big box stores have their inventory. A lot of the smaller stores are no longer a factor because they were actually wiped out last year. They are either Etsy or established players. Planes are again. The trips are incredibly busy.… the people who didn’t get the memo are the salespeople. I think they’re making a big mistake. “

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