DIS - Jim Cramer Raises Disney Stock Red Flag After Nelson Peltz's Board Seat Loss | Benzinga
CNBC host Jim Cramer says activist investor Nelson Peltz‘s recent defeat in his bid for a seat on the Walt Disney Co (NYSE:DIS) board has raised concerns about the company’s stock.
What Happened: Cramer expressed his apprehension about Disney’s stock following Peltz’s failed attempt to secure two board seats at the company. The news of Peltz’s defeat was confirmed shortly after 1 p.m. ET on Wednesday, causing a $1.30 drop in Disney’s stock, reported CNBC.
“A Peltz loss is worrisome to me because I think the stock has moved up a great deal, too fast for me,” Cramer said. “We have sold some and I would like to sell more, but we are restricted.”
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Why It Matters: Despite the recent turbulence, Disney’s stock has been on an upward ...