CNBC’s Jim Cramer said Tuesday that now is the time to ditch stocks of unprofitable companies.
“This is your chance to free yourself of those companies … that don’t have any revenues, don’t have any earnings, all 50 times sales,” Cramer said on “Squawk on the Street,” referring to stocks that sell at high price-to-sales ratios. “They’re all up, take advantage of it,” he added, echoing his 2022 mantra to invest in companies that churn out profits.
Cramer’s comments come as stocks were relatively steady Tuesday after Wall Street closed out a dismal January with a powerful two-session rally, which saw many growth stocks bounce higher. Despite its two-day advance of more than 6.5%, the…