Jim Cramer Got These 10 Stocks All Wrong

4. Signet Jewelers Ltd. (NYSE:SIG)

Number of Hedge Fund Holders: 28

Signet Jewelers Ltd. (NYSE:SIG), the parent company of Kay, Zales, and Jared, was touted by Cramer last year as a turnaround story under CEO Gina Drosos. He admired the low valuation and improving fundamentals at the time.

“Under the leadership of CEO Gina Drosos, Signet has become a phenomenal turnaround story […] the stock trades at less than 10 times this year’s earnings estimate. […] Signet looks real good right here right now.”

But Signet has cratered 47.6% since that endorsement, with weakening jewelry demand and consumer caution slamming the stock.

Although Jim Cramer remains a fan of the company’s CEO, he admitted that the company has been failing, saying this on the 14th of January:

“[on Signet dropping after holiday guidance]Yeah, look, I don’t know, they lost Gina Drosos [laughs]. I think she was a remarkable CEO. And I think this is a very CEO-led company. This is not a given when it comes to jewellery.”