While Jim Cramer said he thinks the market reaction to the full FDA approval of Pfizer (PFE) - Get Pfizer Inc. Report and BioNTech's (BNTX) - Get BioNTech SE Sponsored ADR Report COVID is overdone, he does see opportunity for those who see strong economic growth ahead.
On Real Money, Cramer explained that while the news was far from surprising, the approval will have wide impact from the travel and leisure stocks to oil names.
"I am putting this rally squarely on Comirnaty, that zany named drug from the amazing company that is Pfizer, the potential savior of more than just the market," Cramer wrote.
So where is Cramer putting his attention? In Tuesday's episode of TheStreet Live, Cramer told Action Alerts PLUS senior analyst Jeff Marks that he's closely eyeing the transports, including Union Pacific (UNP) - Get Union Pacific Corporation Report and United Parcel Service (UPS) - Get United Parcel Service, Inc. Class B Report.
Catch his full take in the video above.
TheStreet Live Recap: Everything Jim Cramer Is Watching 8/24/21
Union Pacific and United Parcel Service are holdings in Jim Cramer's Action Alerts PLUS charitable portfolio.