Was Jim Cramer’s Call Right on These 10 Stocks?

6. Paramount Global (NASDAQ:PARA)

Number of Hedge Fund Holders: 54

Paramount Global (NASDAQ:PARA), the media firm behind CBS and Paramount+, was described by Cramer as a troubled company with weak operations but takeover chatter that gave the stock some support at the time:

“Paramount is also an enigma. On the one hand it’s not doing well operationally and it’s the second worst balance sheet in the industry; a close second actually. On the other hand Paramount is considered to be in play, meaning somebody might buy the whole shooting match. I think that’s the only reason why this stock has held up so much better than Warner Brothers over the past 5 months. But man for a company that’s supposed to be in play Paramount shares act terribly. These takeover rumors pushed the stock up from $11 in early November to 17 in mid-December. Since then it’s giving back almost all of those gains because even if there is a deal we realized it’s going to be very messy and probably not too rewarding for shareholders, at least the common shareholders like you and I. […]

Long story short, even if Paramount gets to take over a bit it probably won’t be a huge windfall for shareholders as nobody’s crazy enough to pay up for this thing. Right now people don’t like this linear TV. […]

Then at the bottom of the rankings I’m going to swap Paramount and Warner Brothers Discovery to Paramount third. Warner Brothers got to go dead last. They’re both in not great shape but at least Paramount has takeover chatter; Warner Brothers doesn’t seem to have anything”

Paramount Global (NASDAQ:PARA) has declined by 4.12%, consistent with Cramer’s concerns about its messy fundamentals.

When asked about the stock again on the 17^th of March this year, Cramer did not hesitate to give his bearish view on Paramount, replying:

“Take the money and run. It’s kind of a done deal. We move on to the next, we find the next big one. I suggest that you actually take a look at Disney, which is really cheap.”