The Procter & Gamble Company (NYSE:PG) is one of the stocks Jim Cramer shared his thoughts on. Cramer explained why the stock went up, and he commented:
“So let’s talk about Procter & Gamble and then let’s talk about a pharma company, J&J. Now, here are two companies that have products that you buy, no matter what. You need toothpaste and medicine regardless of how the economy’s doing… Procter’s a different kettle of fish. They have already told us that business isn’t that hot, and they have lots of problems, so be prepared for, it’s the worst because they’ve told you the worst is coming. It might exceed that. Yet its stock went up big today. That’s because even if it’s bad, Procter & Gamble’s still going to do fine versus the cyclical stocks, which are going to get crushed. When you see this one rally on bad numbers, it’s a real tell that things could go south. We bought Procter for the Charitable Trust, totally just as a hedge, hoping that we don’t get a weaker economy. On a day like today, it’s coming in very handy. Maybe you should have a hedge too.”
Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels
The Procter & Gamble Company (NYSE:PG) provides branded consumer goods across beauty, grooming, health care, home care, and family care. The company sells its products through renowned names such as Tide, Pampers, Gillette, Crest, Olay, and Febreze.
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Disclosure: None. This article is originally published at Insider Monkey.
