On CNBC’s “Mad Money Lightning Round,” the famous stock analyst, Jim Cramer, advised investors to hold off on purchasing Walgreens Boots Alliance, Inc. WBA for another quarter. He expressed optimism, noting, “We do think that it’s coming near to where it is bottoming.”
Walgreens is reportedly pondering options for its specialty pharmacy business, Shields Health Solutions, aiming to address financial challenges through a potential sale exceeding $4 billion.
Cramer referred to Marathon Digital Holdings, Inc. MARA as “Bitcoin plays,” advising investors to consider investing directly in Bitcoin instead.
Marathon Digital is expected to release its fourth-quarter results on Feb. 28, 2024, with analysts predicting quarterly earnings at 4 cents per share on revenue of $143.28 million.
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Cramer remarked that he was unfamiliar with First Watch Restaurant Group, Inc. FWRG.
First Watch Restaurant Group recently reported a preliminary fourth-quarter same-restaurant sales growth rate of 5% year-over-year.
When discussing ZoomInfo Technologies Inc. ZI, Cramer expressed ambivalence, stating, “I’m just so torn. I don’t know what gets it going, and it drives me crazy. Sometimes you want the good guys to win, and I can’t think of a thesis.”
ZoomInfo Technologies recently reported better-than-expected fourth-quarter financial results and issued optimistic guidance.
Cramer indicated his positive sentiment towards Anheuser-Busch InBev SA/NV BUD, Molson Coors Beverage Company TAP, and Constellation Brands, Inc. STZ, remarking that “we own Constellation for the Charitable Trust, and that’s the one I would go with.”
Constellation owns beer brands such as Modelo and Pacifico, as well as High West distillery.
Price Action:
- Shares of Marathon Digital gained 14.4% to close at $29.41 on Wednesday.
- Walgreens shares slipped 0.1% to settle at $21.54.
- First Watch Restaurant shares rose 2.1% to $23.79 on Wednesday.
- Zoominfo shares fell 1.2% to settle at $18.11 during Wednesday’s session.
- Shares of Anheuser-Busch InBev fell 2.1% to close at $62.35 on Wednesday.
- Molson Coors Beverage shares rose 0.2% to settle at $61.44 on Wednesday.
- Shares of Constellation Brands fell 0.4% to close at $243.60 during the session.
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Image: Via Constellation Brands
