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Why Jim Cramer says the hottest theme on Wall Street is your selfie stick

Cramer says the hottest theme on Wall Street is thanks to your selfie stick

Jim Cramer says one of the hottest themes on Wall Street is not stemming from complicated investing theory or sophisticated spreadsheet calculations — it's coming from your selfie stick.

On average, approximately 1 million selfies are taken every day for individuals in the 18-to-24-year-old demographic. On Instagram alone, there are 58 million photos with the hashtag of selfie.

"The truth is, vanity has always been the kind of theme you can bank on, but thanks to technology it has gone into overdrive," the "Mad Money" host said.

These days, people love to take a picture of everything so they can document their lives online. That means they must be camera-ready at all times. While Facebook is a huge beneficiary of the selfie culture, Cramer highlighted other stocks that benefit from the selfie revolution.

Is beauty only skin deep?

Anne Hawken | Getty Images

Outside of social media companies themselves, Cramer pointed to Allergan, Align Technology, e.l.f. Beauty and Ulta Beauty as winners.

Allergan has a large assortment of products designed to make the face look beautiful, namely Botox. It also sells Juvederm, an injectable dermal filler gel, and Kybella, a non-surgical option to get rid of a double chin.

"With a smartphone camera in every pocket, I think the aesthetic part of the business has a powerful long-term tailwind," Cramer said.

Ultimately, with Allergan's stock put through the meat grinder this year, Cramer believes Wall Street is ignoring Allergan's long-term growth potential. He said investors may get the stock even lower as Election Day approaches.

Align Technology is the maker of Invisalign, the system of clear, removable aligners used to straighten teeth without the need for braces. And while the stock is up 36 percent this year, Cramer thinks the valuation is justified.

e.l.f. Beauty is the rapidly growing makeup company that came public a little over a month ago. Cramer likes the concept, but said investors could get the stock for less if they wait for a pullback, as growth seems to be decelerating for the company.

Ulta Beauty is the largest cosmetics retailer in the U.S. with 928 stores and salon services that help to defend it from online competition. It is the hottest retail stock out there right now, as the last time it reported it delivered 14.4 percent same-store sales growth. Cramer is a huge fan of this stock, and would like it even more if it went lower.

"With the rise of the selfie, people have never been under more pressure to look their best, which is why it is worth investing in the companies that help with your appearance," Cramer said.

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