- Etsy and Block are Covid-era winners that will continue to thrive even after the pandemic, CNBC's Jim Cramer predicted on Friday.
- "You need to understand just how special these stocks are," the "Mad Money" host said.
- "While they can have some huge swings, once the volatility's over, I bet they won't easily give back their gains," he said.
"You need to understand just how special these stocks are," the "Mad Money" host said. "While they can have some huge swings, once the volatility's over, I bet they won't easily give back their gains."
Etsy shares soared 16% Friday after the e-commerce marketplace provider reported better-than-expected earnings and revenue Thursday. Even with Friday's big move, the stock is down nearly 50% over the past three months. The steep decline came as Wall Street rotated into more defensive parts of the stock market and as investors questioned the staying power of pandemic success stories.
Shares of Block, formerly known as Square, skyrocketed 26% Friday after beating Wall Street expectations on earnings and revenue for its fourth quarter. The company also released a rosy outlook for the current quarter and full-year based on the growth of its mobile payment service, Cash App.
Like Etsy's, Block's stock has been crushed in recent months. It's still down more than 40% over the past three months, despite Friday's gains.
Cramer, who previously warned that many companies aren't ready for a post-pandemic world, said that the payment giant is "firing on all cylinders" and praised Cash App as "brilliant."
As for Etsy, Cramer said the e-commerce shopping platform's growth internationally, evidenced by its recent increase in transaction fees from 5% to 6.5%, signals a path to success even after the pandemic. "Because of Etsy's unique nature as the No. 1 marketplace for handcrafted goods, I doubt there will be any resistance," he added.
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