Jim Cramer Doesn't Care That Nelson Peltz Is Out Of Disney, Says Traders Should Avoid This Real Estate Stock
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended staying away from Crown Castle Inc. (NYSE:CCI). “It has no growth, and the company has been incredibly poorly-managed,” he added.
On May 22, the Houston-based real estate investment trust said its board declared a quarterly cash dividend of $1.565 per share.
When asked about The Walt Disney Company (NYSE:DIS), Cramer said, “I don't care that Nelson's out. Because I think that at these prices, Nelson would probably join me in wanting to be in the situation.”
Activist investor Nelson Peltz reportedly sold his entire stake in Disney.
The “Mad Money” host said AppLovin Corporation (NASDAQ:APP) reported a great quarter.
“People are AppLovin Lovin, and I'm not going to fight you on it,” Cramer said. “It was great, and I don't like enterprise software.”
On May 8, Applovin reported better-than-expected first-quarter financial results. The company posted revenue of $1.058 billion, versus estimates of $974.361 million. Its earnings came in at 67 cents per share, versus expectations of 55 cents per share, according to data from Benzinga Pro.
“I keep thinking it's going to move up. And, you know what, I've decided just better play it with Dick's (NYSE:DKS). Dick's has got golf, Dick's is better run,” Cramer said when asked about Topgolf Callaway Brands Corp. (NYSE:MODG).
On May 22, Topgolf named Maryam Morse as Chief People Officer.
When asked about Oklo Inc. (NASDAQ:OKLO), he said, “I'm doing GE, the Vernova. That's the way to play these things, that's the best one.”
Oklo, last Thursday, announced a partnership with Wyoming Hyperscale. Oklo agreed to supply clean power to a state-of-the-art data center campus owned by Wyoming Hyperscale.
Price Action:
- Disney shares fell 1.5% to settle at $100.88 on Wednesday.
- Topgolf Callaway Brands shares gained 0.5% to close at $15.03.
- Crown Castle shares rose 0.2% to settle at $97.87.
- Oklo shares gained 2.2% to close at $11.03 on Wednesday.
- AppLovin shares gained 0.8% to settle at $83.89.
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