Jim Cramer on Delta: There’s a difference between the stock and the company
Jim Cramer shared his assessment of Delta Air Lines stock, noting that despite the company reporting a revenue miss on Thursday, investors should understand the difference between Delta as a stock and Delta as a company.
"Delta the company is terrific. Delta the airline stock is only as good as the weakest competitors," he said. Delta reported record revenue for the second quarter at $15.41 billion versus the $15.45 billion consensus estimate. Despite robust summer travel demand, Delta has more seats than it can fill, affecting yield performance.
By Thursday’s close, Delta shares were down nearly 4%. Cramer emphasized considering a stock’s entire sector before buying shares, saying, “You can take one look at the jampacked plane and want to buy Delta Air Lines stock, or you can take one look at the pathetic chart, and know for sure that the stock’s, sadly, simply not worth owning.”
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