Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. Wall Street is trying to rally Thursday after the S & P 500 and Nasdaq Composite posted their worst single-session declines since 2022 in Wednesday's session. The indexes were lower during the Morning Meeting, but turned into positive territory after its conclusion.
A reemergence of elevated warranty costs in the quarter let us down, but another key factor behind the stock's 17% plunge Thursday is management's continued resistance to repurchasing shares. It's "outrageous that they won't buy back stock" given it's trading at such a low price-to-earnings multiple, Jim said. "I want people out of this stock," he added.
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