Jim Cramer will ‘stay on the sidelines' for now when it comes to alcohol stocks

While CNBC's Jim Cramer said he's willing to consider that investors may have been too pessimistic about alcohol stocks, he's not ready to lend his full support to many of these companies.

"I'm too concerned about the long-term challenges to pound the table on any of these names, especially Brown-Forman or Diageo," he said."But I'm also open to the idea that we've simply gotten too negative on the group."on Friday revisited alcohol stocks, a sector he's been largely negative on throughout the year.

According to Cramer, alcohol companies face a number secular challenges, such as changing trends in consumer behavior. Popular weight loss medications couldrecently posted a better-than-expected report after missing estimates over several consecutive quarters, with pockets of strength in some of its bourbon and rum brands.

Nigeria Nigeria Latest News, Nigeria Nigeria 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 FridayRobert F. Kennedy Jr.'s nomination to lead HHS has vast implications for drug companies.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market MondayE-commerce sales on Black Friday were strong, and Club holding BlackRock is eyeing a move into a hot part of finance.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market ThursdayWall Street is looking to reclaim its post-election momentum after two subdued sessions.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayWall Street was taking a breather early Tuesday after the S&P 500 extended its record-breaking post-election rally.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market ThursdayShares of companies holding cryptocurrency and enabling trading surged as bitcoin topped $100,000 for the first time ever.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market WednesdayInflation and the Fed are key to markets. But what about Donald Trump's new regime?
Source: CNBC - 🏆 12. / 72 Read more »