News Formal

Jim Cramer says Temu parent plunge is why he doesn't like China stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 24 min. at publisher
  • 📊 Quality Score:
  • News: 90%
  • Publisher: 72%

China News

Physical Fitness,Sports,Aerospace And Defense Industry

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio.

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. PDD Holdings : Shares of the Chinese online retailer plunged nearly 30% on Monday. PDD reported a revenue miss. PDD is the parent company of Temu, which has blitzed U.S. social media with ads to broaden its shopper base. "China tech stocks, I have such a problem with them," Jim Cramer said on Monday. He pointed out that the spillover from PDD to Alibaba, down 5.5%, is not right.

Kroger , Albertsons : The proposed merger between the two supermarket companies is heading to federal court on Monday. Kroger and Albertsons say they need to merge to compete with the likes of Costco , which is a holding in the CNBC Investing Club portfolio. Regulators who oppose the deal say it would reduce competition. "The FTC is going to fight tooth and nail," Cramer said, because the agency has a tough history of blessing deals like this in the past.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer's top 10 things to watch in the stock market MondayThe S&P 500 enters the new week of trading less than 1% away from its all-time high set in July.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market ThursdayCiti backs Nvidia ahead of earnings, while James Gorman is in charge of Disney's succession planning.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market WednesdayTJX Companies and Target reported strong earnings reports before the opening bell.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayThe market has entered into overbought territory after an eight-day win streak for the S&P 500.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market MondayAMD is buying a company to help it rival leading AI chipmaker Nvidia. Meanwhile, the Fed's Jackson Hole symposium will be all anyone can talk about.
Source: CNBC - 🏆 12. / 72 Read more »