CNBC Investing Club with Jim Cramer Releases Homestretch Audio Feature
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. In the latest edition, the market was seen bouncing around as it consolidated its recent gains.
As a response to the very overbought market, the club raised cash and trimmed positions in Meta Platforms (META) and Alphabet (GOOGL). This decision came after Jim Cramer and portfolio director Jeff Marks noticed that the Meta position had swelled to a point where it needed to be adjusted. The club follows the rule of not letting any position in the portfolio exceed 5%. As for Alphabet, the stock has rallied more than 25% since the last trim in May, outperforming the S & P 500’s gain of about 10%.
In addition to these changes, Jim stated that he is also evaluating positions in underperforming companies like Estee Lauder (EL) and Foot Locker (FL), both of which have been impacted by a pressured consumer and questionable management decisions. Foot Locker, in particular, caught another downgrade and is set to report earnings before the opening bell on Wednesday.
Despite the adjustments and evaluations, some stocks in the portfolio, such as Microsoft (MSFT), Palo Alto Networks (PANW), and Costco (COST), were making new highs on Monday. Moreover, there were buyers coming back to Nvidia (NVDA) after a few days of post-earnings weakness.
Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes a trade, with a 45-minute wait time after the alert is sent before buying or selling a stock in the charitable trust’s portfolio. Additionally, if Jim has discussed a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
It’s important to note that the information provided by the investing club is subject to terms and conditions, privacy policy, and disclaimer. No fiduciary obligation or duty exists by virtue of receiving the information, and no specific outcome or profit is guaranteed.
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