The Dow closed this past week at record highs as a slowing jobs recovery showed that Congress needs to pass an economic stimulus package.
While many stocks are hitting new highs and rising as we get toward the end of the year, other stocks have not fared too well this past week. Could now be the time to "buy the dip" in stocks that fell this past week?
Here are several stocks that fell and could present an opportunity to "buy the dip".
1. Splunk | -21.06% 5 day | -22.19 1 Month
TheStreet looked at the key levels to trade Splunk (SPLK) - Get Report after its disappointing quarterly report. Jim Cramer talked about why you should look at other stocks before thinking about buying shares of Splunk.
TheStreet Quant Ratings rates Splunk as a Hold with a rating score of C-.
2. Zoom Video Communications | -13.06% 5 day | -15.23 1 Month
TheStreet Quant Ratings rates Zoom as a Sell with a rating score of D.
3. Salesforce.com | -8.79% 5 day | -9.92% 1 Month
Salesforce reported strong earnings and beat analysts' expectations. Salesforce also reported its acquisition of Slack as well on Dec. 1. Cramer believes Salesforce will rise again. It may take some time but he believes Salesforce will go up.
TheStreet Quant Ratings rates Salesforce as a Buy with a rating score of B.
4. DraftKings | -6.64% 5 day | +24.81% 1 Month
DraftKings and other gambling companies climbed after votes in three states approved legal-sports-betting measures. DraftKings jumped again in mid-Nov. when its price target high was initiated by Loop.
5. Best Buy | -6.27% 5 day | -11.92% 1 Month
Best Buy (BBY) - Get Report blasted its earnings expectations at the end of Nov. but held back its guidance. Best Buy fell after it closed all of its 41 stores in Mexico. TheStreet provided a guide on how to trade Best Buy after its report and prior to Black Friday.
TheStreet Quant Ratings rates Best Buy as a Buy with a rating score of B+.
6. Kroger | -5.70% 5 day | -4.71% 1 Month
TheStreet Quant Ratings rates Kroger as a Buy with a rating score of B+.
7. Plug Power | -5.30% 5 day | +49.61% 1 Month
TheStreet Quant Ratings rates Plug Power as a Hold with a rating score of C-.
NOTE: Recently, Quantitative Analysis by TheStreet Quant Ratings objectively rated these stocks according to its risk-adjusted total return prospect over a 12-month investment horizon. Not based on the news on any given day, the rating may differ from Jim Cramer's view or that of this articles' author.
Salesforce is a key holding in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.