CNBC’s Jim Cramer said on Monday that “we’re in some wacko market” because normally chasing stay-at-home stocks trading at off-the-charts multiples to sales would not make sense, but now the market is rewarding investors who do so.
Cramer cited Zoom Video Communications at about 50 times sales and cloud company Snowflake at about 100 times sales as worth owning, advising people to buy and invest in stocks assuming that the coronavirus pandemic is not going away anytime soon.
“Zoom is doing triple what it was doing like three months ago. And I know it’s 50 times sales. But at the same time, I want growth not from cutting and hopefully having more oil per rig. But I want growth that is pure…