The Procter & Gamble Company (NYSE:PG) is one of the stocks Jim Cramer put under the microscope. Cramer highlighted the impact of the dollar’s value on the stock, as he remarked:
Some may fret about a weak dollar, but if you did, that would be kind of like a heads-I-win-tails-you-lose argument. We have many international companies that are located in the US. For years, they’ve been smoked by a strong dollar. Hurts them competitively. Now, the opposite will occur. Procter & Gamble, with almost half of its sales overseas, could be a huge winner when it reports again next quarter. Maybe that’s why it went up gigantically after that not-so-hot quarter last week.
Photo by Yiorgos Ntrahas on Unsplash
The Procter & Gamble Company (NYSE:PG) provides branded consumer goods across beauty, grooming, health care, home care, and family care. The company sells its products through renowned names such as Tide, Pampers, Gillette, Crest, Olay, and Febreze. Cramer mentioned the stock during the January 22 episode and stated:
… I think most importantly, I liked this new Procter management, including the new CEO, Shailesh Jejurikar. And I gotta tell you, I was blown away by some of the things that he said about what happened in this very quarter and his full investment in the business… Look, it really helps that it, I think Procter’s pulling away from its competitors while putting the company in a position to take market share so they can do even better when the industry bounces back… So let me give you the bottom line here: Even though Procter’s quarter was not so hot, this was a stock that most people on Wall Street had given up on. So even mediocre results were enough to send the stock flying today. And look, when a stock rallies on a seemingly disappointing quarter, it’s a textbook tell that it’s got a lot more room to run. I’m glad we bought this one ahead for the Charitable Trust…
We picked the stock of Procter & Gamble for the trust because it has a long history of innovation, improvement, and execution. We knew it had a solid dividend, one of the best dividends in the entire market, serves as a trampoline if the stock goes low enough. Before the quarter’s release, Procter had been adamant that they were going to miss the numbers. It was very well telegraphed. The disappointment occurred beforehand… So when we saw the numbers today, it didn’t matter. Best of all, Procter has a new CEO. This would be his inaugural quarter, so he didn’t own the previous CEO’s mistakes.
While we acknowledge the risk and potential of PG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PG and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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