Jim Cramer has a bold message for portfolio managers looking for growth in a volatile market: sell everything and buy soon-to-be-public Alibaba.
The massive online Chinese retailer, in which Yahoo owns a big stake, could boost the tech company's share price up to $45—a more than 20 percent spike—Cramer said on CNBC's "Squawk on the Street." Yahoo saw shares soar Wednesday morning more than 7 percent after a better-than-expected earnings report that also gave Wall Street a glimpse into Alibaba's massive growth potential.
"I want to own Alibaba," Cramer said. "If I was a growth manager, I would sell every single stock and buy Alibaba. I cannot believe that acceleration. Who accelerates? And this is China we're talking about."
Alibaba's revenue grew 66 percent to $3.06 billion in the last quarter of 2013, according to Yahoo. The online retailer is valued at more than $140 billion and expects to go public later this year, the largest offering since Facebook's IPO in 2012.