Jim Cramer on Apollo Global: “This is the Toughest One for Me to Swallow”

Apollo Global Management, Inc. (NYSE:APO) is one of the stocks Jim Cramer was recently focused on. Cramer noted that the stock has been hit “much harder than the others,” as he remarked:

“Finally, there’s Apollo Global Management. This is the toughest one for me to swallow. It’s been hit much harder than the others. It’s been a much worse performer year to date. Apollo’s now trading below its 50 and below its 200-day moving averages at 133. Lang says it faces stiff resistance in the mid-140s and again at 155.

Meanwhile, it’s sitting right on top of the floor support at 130. I don’t want to see it go through that. Lang points out that the on-balance volume down at the bottom started heading in the right direction again a few weeks ago. Well, that would be good. Apollo can get some momentum here, he thinks the stock could perform much better, possibly rallying back to its February highs around 175. With interest rates coming down, he expects this one to improve, maybe dramatically.”

A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels

Apollo Global Management, Inc. (NYSE:APO) is an alternative investment firm that invests across private equity, credit, real estate, infrastructure, and secondaries, managing portfolios for institutional and individual clients.

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