Cramer: It’s not too late to buy Walmart [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
show chapters After Walmart shares surged almost 10 percent last Thursday thanks to the company's strong second-quarter earnings numbers, investors might be wondering if the stock has reached its peak. CNBC's Jim Cramer doesn't think so. Don't think it is too late to buy some, the Mad Money host said. Cramer traces the stock's rise back to CEO Doug McMillon's turnaround plan for the company, which began three years ago. In McMillon's eyes, Walmart needed to spend a lot more money to build out its web presence and better compensate its workers, Cramer said. Although the stock initially dropped on the news, McMillon insisted that the plan would pay off in the long run. After a strong 2017, the stock took a hit this February when Walmart reported fourth-quarter earnings that missed expectations. While McMillon pointed out that the growth would pick up again, by that point investors weren't in the mood for any nuance, said Cramer. The slowly es
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