Jim Cramer Selects 3 Media Stock Winners As Tight Race Between Trump And Kamala Harris Unfolds: 'About To Be Inundated With Both Viewers And Political Ad Dollars'

In a recent episode of CNBC’s “Mad Money,” host Jim Cramer suggested that three media stocks are likely to perform well in the lead-up to the upcoming presidential election.

What Happened: Cramer, who is known for his stock recommendations, highlighted Fox Corporation FOX FOXA, The New York Times Company NYT, and Nexstar Media Group NXST as potential winners in the media sector, CNBC reported on Wednesday.

He pointed out that the upcoming election could significantly impact these companies, with increased viewership and political ad spending likely to boost their revenues.

"As much as I really do loathe talking politics on the show, I think the suddenly close election gives you an opportunity to try to profit from some of the media stocks that are about to be inundated with both viewers and political ad dollars," he said.

Regarding Fox, Cramer emphasized the potential growth from its live programming, particularly sports and news, due to its extensive deals with the NFL and college football. He also predicted a surge in viewership for Fox News in the months leading up to the November election.

He also recommended The New York Times, suggesting that a close election or a win by former President Donald Trump would further boost the company’s stock. Cramer noted that Trump’s presidency had driven increased news engagement and subscriber growth for the Times.

As for Nexstar, Cramer highlighted the company’s local TV stations, which could generate significant advertising revenue as candidates and super PACs invest in commercials over the next three months, particularly in battleground states.

However, Cramer cautioned that Nexstar is more of a trade than an investment and could face challenges post-election, similar to many traditional TV companies.

"When you look at the polling, suddenly we've got a close race," Cramer said. "Putting aside the polling, what really matters are the expectations, because Wall Street's an expectations machine."

See Also: Dow Jumps Over 650 Points Following Inflation Data: Fear & Greed Index Moves To ‘Neutral’ Zone

Why It Matters: The media landscape is poised for significant changes as the 2024 presidential election approaches. Cramer has previously suggested that a second term for Trump could positively impact the stock market, as Trump's policies might favor market growth.

Cramer pointed out that Trump’s reliance on stock market performance to gauge his success could lead to bullish measures.

Additionally, Cramer has identified stocks that could soar or sink if Trump wins the 2024 election. He noted that the recent assassination attempt on Trump has intensified speculation about his chances of reelection. Cramer remarked, “After this weekend, it sure seems like the Trump stocks are back,” but he also warned that market dynamics can shift rapidly.

The race between Vice President Kamala Harris and Trump is particularly tight, with recent polls showing a narrow lead for Trump, according to a survey.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote