Jim Cramer’s Influence on Walgreens Stocks and the Downward Spiral
Jim Cramer’s Stock Commentary
Jim Cramer, a prominent financial commentator, recently labeled Walgreens stocks as 'amazing' in a post dated January 8, 2024. However, this promotion coincided with a severe 59.81% drop in stock prices, painting a grim picture for Walgreens (NASDAQ: WBA).
Walgreens in Crisis
Despite Cramer’s enthusiasm, Walgreens has dealt with numerous challenges, including:
- Store Closures: Plans to shut down a large number of its 8,600 U.S. locations.
- Earnings Report Failure: Q3 results missed EPS estimates by a notable margin.
- Debt Refinancing: Selling off stakes and issuing junk bonds in a struggling attempt to stabilize finances.
Walgreens shares are now trading around $10.30, a stark contrast to their January 2 closing price of $26.65, indicating substantial losses in the YTD price chart.
Cramer’s Role in Stock Performance
While Jim Cramer has often been linked with stock woes, experts argue that Walgreens' struggles run much deeper than his commentary. The plunge in WBA shares pertains to operational deficiencies that have plagued the company.
Despite associating with Cramer's influence, the ongoing decline of Walgreens stocks stems from market circumstances and internal decisions rather than his commentary.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.