Jim Cramer Advises Against AMC Stock, Suggests These Two Stocks Instead: 'The Consumer's Not Going To The Movies Like They Used To'
Portfolio Pulse from Benzinga Neuro
On CNBC's 'Mad Money,' Jim Cramer advised against investing in AMC Entertainment Holdings Inc. (NYSE:AMC), citing a decline in moviegoers and the stock's poor performance. Instead, he recommended Northrop Grumman Corporation (NYSE:NOC) and John Bean Technologies Corporation (NYSE:JBT), praising NOC's current price and JBT's position in the industrial food sector. AMC's short percent of float has increased, indicating bearish sentiment, despite a revenue increase in Q3.
January 30, 2024 | 7:03 am
News sentiment analysis
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POSITIVE IMPACT
Jim Cramer expressed his fondness for John Bean Technologies, a player in the global industrial food sector, calling it 'quirky, but good.'
Cramer's positive remarks about JBT's uniqueness in the industrial food sector could attract investor interest, potentially leading to a short-term uptick in its stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Jim Cramer recommended Northrop Grumman Corporation, highlighting its current price as an attractive entry point.
Cramer's recommendation and readiness to 'pull the trigger' on NOC could generate positive investor sentiment, potentially driving up the stock price in the short term.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Jim Cramer advised against investing in AMC due to a decline in moviegoers and poor stock performance, alongside an increase in short interest.
Cramer's negative outlook on AMC, combined with increased short interest, suggests a bearish sentiment that could lead to a short-term decline in stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100