Although Walmart beat Wall Street's expectations on per-share earnings and quarterly revenue, the "Mad Money" host said institutional investors are likely focusing on the company's declining margins, leading to weakness in the stock.
Walmart fell 0.86% during Wednesday's session, closing at $141.94 per share, one day after tumbling 2.55%. The stock is down 4.38% over the past five days and is now lower by 1.5% for the year. "We actually own some Walmart stock for the charitable trust. We sold some at higher levels. We're actually itching to buy some of that stock back because I believe in Walmart's strategy. I think it's a smart way to take market share," Cramer said.
Cramer faces restrictions on the timeline for potentially adding to his Walmart position. Cramer's charitable investment trust cannot trade a stock for three days after he mentions it on a CNBC show, such as "Mad Money" or
As if...
That's the most bearish news you can get if you're a publicly traded company
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Source: CNBC - 🏆 12. / 72 Read more »
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