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Jim Cramer Points to 23 Quality Stocks Down 30% or More That Could Be Good Buys

NEW YORK (TheStreet) -- More than 240 stocks in the S&P 500 reached bear market territory as of last Tuesday, according to Jim Cramer.

As a result of last week's market volatility, 11 stocks plummeted more 50%; 24 more than 40%, 23 more than 30%, 78 more than 20% and 104 more than 10%, Cramer counts in a RealMoney post on Monday.

"The numbers understate the trashing," Cramer wrote. "Many of these stocks have had incredible plummets from their 52-week highs, making these percentages seem benign. You could easily add another 100 to the down 10% if we look at Tuesday's close, and bump many more into the higher percentage brackets."

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While some sectors didn't get hit as hard, such as health care, some biotech stocks and a small handful of retailers, "after last week's lows, believe me, you don't find more than a couple of dozen stocks that are up more than 10%," he said. "That's stunning to me."

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"Plus, the stocks that are down 20% or more are true household names, companies: the big rails, the big truckers, a huge number of high quality industrials, utilities, media stocks, the works," Cramer wrote.

Here's Cramer's list of stocks down at least 30% from their highs, with ratings from TheStreet Ratings for added perspective. And when you're done check out the list of stocks down 50% or...