The stock of Walt Disney Co (NYSE:DIS) has reached a 52-week high, but Jim Cramer has advised investors to be cautious.
What Happened: On Tuesday, Cramer, the host of CNBC’s “Mad Money,” suggested that it might be time to trim Disney’s stock, reported CNBC. The stock has surged by 25% this year but Cramer believes that the reasons behind this rally are questionable.
Disney is currently embroiled in a proxy battle with activist investor Nelson Peltz, who has been critical of the company’s management. Despite the stock’s recent gains, Cramer is skeptical about the sustainability of this growth.
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“I don’t want talk. I want action,” Cramer said.
“Trimming on strength makes a lot of sense.”
Why It ...