Buy these 4 ‘bargain basement’ stocks to take full advantage of the omicron selloff — wait too long and you’ll kick yourself

Jim Cramer: Buy these 4 ‘bargain basement’ stocks to take full advantage of the omicron selloff — wait too long and you’ll kick yourself

With valuations still sky-high by historical standards, some investors might be hesitant to buy into the stock market. And understandably so.

But according to CNBC’s Jim Cramer, there are still opportunities for those seeking value, especially after the COVID omicron variant rattled markets.

“For days I’ve told you we were waiting for the other shoe to drop and it just hit today,” he said this past Wednesday when the Dow Jones Industrial Average dropped 461 points.

Within that context, the Mad Money host offered viewers four value stock recommendations. He even warned that if you wait too long to buy them, you’ll probably kick yourself.

Here’s a quick look at Cramer’s group of “obvious” bargain-basement buying opportunities. One — or all — of them might be worth buying with some of your extra cash.

Disney (DIS)

AFM Visuals/Shutterstock

It’s easy to understand why Disney made Cramer’s list of beaten down values.

While the S&P 500 has climbed a solid 22% year to date, Disney shares have tumbled 19% over the same time period and are off nearly 30% from their 52-week highs.

Theme parks and cruise lines still make up about 17% of Disney’s business, so it’s no surprise that new COVID variants significantly hurt the stock’s investor appeal.

Meanwhile, streaming service Disney+ added just 2.1 million subscribers in the most recent quarter, its slowest pace since launching two years ago.

“Right now, Disney’s being held down by the omicron variant and disappointing subscriber numbers for Disney+,” Cramer acknowledged.

But he also said that the stock won’t stay down forever because Disney is an “iconic company” with the best franchises. Prior to the pandemic, Disney consistently posted returns on equity around 20%.