CNBC's Jim Cramer on Tuesday gave his thoughts on the most sough after stocks by millennials on the popular stock trading app Robinhood.
The investing platform's co-CEO Ivan Tenev in a "Mad Money" interview the day prior revealed the top stocks that millennial investors bought in March. The show host gave his stamp of approval on the stock picks, calling them "pretty intriguing stocks."
It's a "fantastic list," he said. "Not perfect, but very good for speculation."
Below are his comments on the top ten millennial stock picks for March:
Inovio Pharmaceuticals: "I always tell you to own at least one speculative stock and the younger you are, the more speculative you can be."
Ford: "I have to believe this is all about bargain hunters taking advantage of a stock that's down close to 50% for the year, and they like these $5 stocks. I think that's a mistake," Cramer said adding "the stock might be worthless if the company runs out of money."
Aurora Cannabis: "I don't like penny stocks. They're penny stocks for a reason," he said. "If you want to bet on a Democratic sweep in November followed by marijuana legalization, [I'd buy] Canopy."
Disney: "I think this one's brilliant," Cramer said.Β A good buy if you've got a long time horizon, and Robinhood's younger clientele [has] decades."
Microsoft: Cramer called it "the best performing large-cap tech."
American Airlines: "This is another one where I get the temptation. The stock's down close to 70% from its highs. It's a big bounce back candidate if the government bails out the industryβand we always bail out the air industry."
Boeing: "You have to believe it will be saved by Uncle Sam," Cramer said. "I think it's a 50 down, 100 up situation. Perfect risk reward for a younger investor."
Carnival: "I wouldn't own Carnival if you're my age, no, but if you're thirty it might be worth it for speculation."
General Electric: "GE has a fabulous CEO, Larry Culp, and I think it's a better play on the eventual rebound in air travel than Boeing."
Tesla: "I'm surprised it's number ten and not number two or three. If you're a younger investor, it makes a ton of sense to bet on the only car company that's so popular it doesn't need to advertise."
Disclosure: Cramer's charitable trust owns shares of General Electric.
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Source: cnbc.com
