Clorox (CLX) Is “Down So Low,” It’s Looking Up To Me, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed Including His Palantir Deep Dive. The Clorox Company (NYSE:CLX) is one of the stocks Jim Cramer recently discussed.

The Clorox Company (NYSE:CLX)’s fiscal first-quarter earnings were anything but stellar as the firm reported a 19% revenue drop to $1.43 billion. The decline, which beat analyst estimates of $1.39 billion, was attributed to an enterprise resource planning (ERP) software change. Ahead of the earnings, Cramer pointed out that The Clorox Company (NYSE:CLX)’s 30% decline for the year was representative of a new trading environment where investors were hesitant to pile into consumer goods stocks during periods of economic worries. In this appearance, he remarked that the dip in The Clorox Company (NYSE:CLX)’s shares appeared to be over:

“David when sometimes stocks are down so low, they look up to me and that’s Clorox. Clorox had. . .a horrendous quarter, absolutely terrible, had this ERP, that just obliterated their earnings. And the stock’s up two because it was just down so much, enough is enough.”

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Here is what Cramer said about The Clorox Company (NYSE:CLX) ahead of its earnings:

“Now, we also hear from Clorox, quite different from Palantir, with a stock that is down more than 30% for the year. Clorox is at the heart of this market’s conundrum. In the old days, when we had worries about the economy, everybody bought the consumer packaged goods stocks. Now, perhaps because of inflation, people just won’t pay up for the name brands. Let’s see what CEO Linda Rendle has to say.”

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Disclosure: None. This article is originally published at Insider Monkey.