In a surprising development, Jim Cramer’s charitable investment portfolio has left Disney. This unexpected development comes after Cramer held on to the stock for sixteen years.
Appearing on CNBC’s Squawk Box on Tuesday Cramer said that he felt that Disney was a pandemic work and not a post pandemic one because of the way the company positioned it. He said that he knew that they did not agree with his assessment, but he said that he didn’t “need a company that’s a pandemic work because they don’t.”
He said that companies whose stocks soared during the pandemic are now “toxic” even if they still have great sales. He mentioned that Disney was a company but still was a pandemic one. During the pandemic, the stock of the parent company soared because of Disney+. However, the company now had theme parks, cruises, and movies “to look forward to.”
Jim Cramer is an American TV personality who is also the host of Mad Money on CNBC He has written and sold several books about money and investing. The former hedge fund manager has also co-founded the website The Street.
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| Author | Tulane Public Relations |
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