Cramer Sees Buying Openings in Consumer Stocks as Meta's Muse Sparks 20% Planet Fitness Drop
Updated
Updated · CNBC · Sep 29
Cramer Sees Buying Openings in Consumer Stocks as Meta's Muse Sparks 20% Planet Fitness Drop
2 articles · Updated · CNBC · Sep 29
Summary
Sept. 8 launch of Meta's Muse has driven a broad "consumer inertia" selloff, with Planet Fitness down 20%, Booking 16%, Airbnb 13%, SiriusXM 11% and Charles Schwab 9%.
Cramer said Wall Street is overreacting by treating whole sectors as AI losers, arguing investors should judge each company's actual exposure instead of assuming agentic AI will erase sticky consumer behavior.
Life Time's smaller 7% decline versus Planet Fitness supports that case, he said, because more engaged upscale gym members may be less likely to cancel subscriptions.
Airbnb and other travel names may also be oversold, Cramer argued, since online agencies still offer rewards and comparison tools, while Expedia has already partnered with Muse.
He said some companies remain vulnerable—citing SiriusXM's long-running decline—but compared the panic to this year's "SaaSpocalypse," when software stocks later recovered as investors accepted AI and incumbents could coexist.