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CNBC’s Jim Cramer holds that there’s merit to sticking with solid companies even if their prices fluctuate. He acknowledged that Amazon is facing some hurdles, but he disagreed with Wells Fargo’s downgrade of the stock. He said Jeffries’ downgrade was “betting against Apple’s entire culture of excellence.”
CNBC’s Jim Cramer told investors not to get caught up in downgrades or general trading on Wall Street, reiterating his stance that there’s merit to sticking with solid companies even if their share prices fluctuate.
“When I look at the history of this incredible bull market—and it has been an incredible bull market—it’s littered with ‘buy-to-hold, hold-to-sell, buy-to-hold, hold-to-sell,’ these downgrades that scare you out of amazing stocks at levels that may temporarily be too high, but will recover later,” he said. “If you listen to the downgrades, though, you’ll never recover with it.”
Cramer said Monday had a “ridiculous plethora of sell-side downgrades,” where the Dow Jones Industrial Average dipped 0.94%,