13 Stock Predictions That Jim Cramer Got Completely Wrong

4. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 92

Cramer addressed Pfizer Inc. (NYSE:PFE) in that older episode after a caller asked whether the pharmaceutical giant still had upside. At the time, he pointed to the Seagen acquisition and migraine treatments as potential growth areas. Here’s what he said back then:

“ I think Pfizer is bottoming. I think that Seagen [acquisition] is starting to kick in. I think they’re doing a lot of stuff by the way with migraine, which makes me very happy being the spokesperson for the American Migraine Foundation. I think it’s- I don’t want to call a new Pfizer I want to call it an energized Pfizer, and I think you’re going to see some good things. In the meantime, you got a 5.9% yield so I like it.”

However, the pharma stock did not bottom and fell by another 18.75% since that episode.

Cramer expressed his frustration about Pfizer Inc. (NYSE:PFE) earlier in April, saying:

“You know, this is a quandary. And I’ll tell you what, Dr. Bourla, terrific guy, he bought Seagen, I think it’s going to be great. Right now, it’s caught in a vortex where they can’t seem to be able to produce things to offset things that are coming off patent. I want to stick with it, but that 7.7% yield is not a sign of strength. It’s now a sign of weakness.”