CNBC's Jim Cramer on Thursday gave young investors a list of stocks he believes should be on their shopping lists.
"If you're a younger investor, you need to take some risk in your portfolio — that's how you have a chance to generate gigantic returns. I recommend betting on long-term stories that can eventually give you big wins as long as you're patient," he said.
Cramer explained that junior growth stocks are smaller, faster-growing companies that could become huge in the future. "Four or five years ago, Tesla was just a wee bit junior growth stock. Well, there's nothing junior anymore about the stock."
He added that these stocks are particularly attractive investments for investors still in their 20s, since they have time to correct potential mistakes and to invest in stocks that could take a while to blow up.
Here are the three junior growth stocks Cramer recommends:
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- While Etsy's stock valuation got a bit "excessive" during the height of the Covid pandemic, its underlying business remains solid, according to Cramer.
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- He said that the continued strong demand for travel will help lift Airbnb's earnings.
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- "I think Dutch Bros. is a fantastic long-term holding as long as you can get it now, less than $40," he said.
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