- CNBC's Jim Cramer said Tuesday investors should put Airbnb, Uber and DoorDash on their "shopping list."
- He cautioned that while he sees opportunity in these stocks, he expects "more pain" for the market overall.
- "At the moment, you should focus on companies that have gone through the Covid mill and come out the other side," the "Mad Money" host said.
"I'm always telling you have a shopping list ready for these moments when the whole market looks like it's going to get hammered. At the moment, you should focus on companies that have gone through the Covid mill and come out the other side," the "Mad Money" host said.
All three of the aforementioned companies fit that bill, according to Cramer, and now stand poised to benefit as the pandemic moves into its later stages. He cautioned that while he sees opportunity in these stocks, he expects "more pain" for the market overall.
In the case of Airbnb, CEO Brian Chesky didn't allow the company to "give up" early in the Covid crisis when travel came to a near halt, Cramer said. Instead, Airbnb was well-positioned to capitalize on the resumption of travel and shifting consumer preferences, he said.
For Uber, Cramer said the company smartly leaned into its Eats platform during the pandemic, and then wisely doubled down on the acquisition of alcohol delivery firm Drizzly.
"It's a two-way street with Uber; that's how they're now able to raise guidance significantly," Cramer said, referring to the company's announcement earlier Tuesday that played a role in the stock closing up 11.5% in the session.
Cramer said DoorDash, similarly, emerged from the acute phase of the pandemic in a strong position and now largely finds itself in a two-man game with Uber Eats in the U.S.
The "Mad Money" host acknowledged regulation is a risk to any company that operates in the so-called gig economy, but he said he doubts state governments or Washington would "regulate them into oblivion" because of their popularity among consumers.
"Here's the bottom line: I like the services that are Airbnb and Uber and DoorDash because these companies didn't just sit there and take a beating. They got up off the floor at their darkest hour and reinvented themselves," Cramer said.