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Jim Cramer says he'd buy Disney after its shares slid on negative Netflix news [CNBC]
Last netflix, inc. earnings: 4/21 04:00 pm
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US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
“I want to own stocks that are brought down in a guilt-by-association fiasco and that's exactly what happened to Disney today,” the “Mad Money” host said. Netflix's forecast of slowing subscriber growth caused its stock to plunge and also dented other streaming players like Disney. CNBC's Jim Cramer said Friday he views the sell-off in Disney as a buying opportunity for investors. Shares of the media and entertainment giant fell 6.94%, hitting a fresh 52-week low during the session. However, the “Mad Money” host said he would not shy away from the stock because its steep decline appeared tied to Netflix 's forecast of slowing subscriber growth Netflix's outlook — offered Thursday night when the company reported earnings — spooked investors, and the company's shares plunged 21.8% Friday. “I want to own the stocks of longstanding, great Americans that are brought down in a guilt-by-association fiasco, and that's exactly what happened to the stock of Disney today,” Cramer said,
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