Jim Cramer Considers Best Buy a “Well-Run” Company

Best Buy Co., Inc. (NYSE:BBY) is one of the stocks Jim Cramer was recently focused on. During the episode, Cramer shared his insights on the company stock, as he commented:

“Now, I wrote How to Make Money in Any Market over a period of two years. In the chapter on dividend stocks, I initially included Stanley Black & Decker and Best Buy as interesting prospects. Now, I think both of these are well-run companies, and they yield 4.5 and 5%, respectively. I took them out, though in the next pass, because unlike the food stocks, which really don’t even need a strong economy to make big money, Best Buy and Stanley Black & Decker actually need strong consumer growth and tariff relief.

That’s just too much of a lift for me. Now, I wouldn’t be surprised if one of these stocks I just mentioned ends up making me look bad and becomes a good stock. I know this because you see, we bought both Stanley and Best Buy for my Charitable Trust, and we were shocked to see them shoot higher immediately on word of rate cuts. We sold a big chunk of those positions up higher, but then subsequently got rid of the rest at just okay prices because we were worried. In retrospect, we got lucky, I think, on the higher prices because I believe that those rallies were simply short squeezes. We definitely aren’t going back into either of those two anytime soon.”

Photo by Joshua Mayo on Unsplash

Best Buy Co., Inc. (NYSE:BBY) sells a wide range of consumer electronics, appliances, entertainment, and lifestyle products, along with services such as delivery, installation, repair, and technical support.

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