We recently published 8 Stocks Jim Cramer Talked About. Starbucks Corporation is one of the stocks Jim Cramer recently discussed.
Coffee chain Starbucks Corporation made a big announcement earlier this week after it announced that it would sell 60% of its China business through a $4 billion deal. Despite the firm’s recent struggles, Cramer is a believer in the firm’s CEO Brian Niccol and his turnaround efforts. However, even though he’s a believer, the CNBC TV host commented later during the day that he didn’t want to “touch” Starbucks Corporation until the shares hit $75. In this appearance, he discussed the China sale:
“Now Starbucks I’ll point out, very big confusion about how much they really got out of China. All I care about is they don’t have to worry about China anymore. That’s what I was excited about. But people felt that they would get more when we had Brian Niccol on last week and he didn’t deliver. I don’t know, it’s splitting hairs. I really don’t think the valuation they got was anything bad. What I care about is I just didn’t want to worry about China anymore.”
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This article is originally published at Insider Monkey.
