Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Cramer says he plans to own Costco for the long term. Here’s why

by
December 4, 2021
in Trading News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

SEC charges Tron founder Justin Sun, celebrities Lindsay Lohan, Jake Paul with crypto violations

Fed hikes rates by a quarter percentage point, indicates increases are near an end

CNBC’s Jim Cramer said Friday he intends to own Costco for the long term because the wholesale retailer has the most valuable quality he looks for in stocks: pricing power.

“Costco has the No. 1 most important quality in a great stock: This is a company with the ability to raise price at will,” the “Mad Money” host said.

“They could snap their fingers and become more profitable practically overnight. That makes Costco a member of a very small club,” along with the likes of Chipotle, Apple, Netflix and Amazon, Cramer said.

Cramer singled out Netflix and Amazon Prime as his favorites, saying the services could raise prices and most consumers would stick with them. “I think Costco’s no different,” he said.

Cramer’s comments Friday followed reported remarks from Charlie Munger, Berkshire Hathaway‘s vice chairman and the longtime business partner of Warren Buffett. According to The Australian Financial Review, Munger praised Costco’s purchasing power and said he believes its digital presence will grow to the point it potentially rivals Amazon.

Cramer said he “couldn’t agree more” with Munger’s outlook on Costco’s internet business.

Cramer also said Costco demonstrates the importance of maintaining a long-term view. To demonstrate his point, he noted that earlier this week Costco reported its November comparable sales rose 14.1% when Wall Street analysts had expected 15%.

Cramer said he initially thought it was time to trim his charitable trust’s position in Costco, but further consideration changed his mind.

“There are periods where even great retailers miss the numbers ever so slightly, and I figured this was just Costco’s turn. The toughest thing about owning this stock long term is simply having the fortitude to stick with it.”

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market. Disclosure: Cramer’s charitable trust owns shares of Amazon, Costco and Apple.

Disclaimer

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram

Questions, comments, suggestions for the “Mad Money” website? madcap@cnbc.com

ShareTweetPin

Related Posts

SEC charges Tron founder Justin Sun, celebrities Lindsay Lohan, Jake Paul with crypto violations

by
March 23, 2023
0

Lindsay Lohan attends/performs during a photocall for "Speed The Plow" at Playhouse Theatre on September 30, 2014 in London, England....

Fed hikes rates by a quarter percentage point, indicates increases are near an end

by
March 23, 2023
0

WASHINGTON -- The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent...

Cruise robotaxis blocked a road in San Francisco after a storm downed trees and wires

by
March 23, 2023
0

In this article GM Follow your favorite stocksCREATE FREE ACCOUNT General Motors' self-driving vehicle unit Cruise acknowledged that some of...

Coinbase warned by SEC of potential securities charges

by
March 23, 2023
0

In this article COIN Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, the Coinbase logo is displayed on...

Relativity’s first 3D-printed rocket launches successfully but fails to reach orbit

by
March 23, 2023
0

The company's Terran 1 rocket lifts off from LC-16 at Cape Canaveral, Florida. Relativity Space Relativity Space, a 3D-printing specialist,...

Next Post

Singapore's Grab soars 18.6 per cent on Nasdaq debut following SPAC merger

Dow Jones Falls As Nasdaq Dives; Elon Musk Does This, Tesla Plunges; DocuSign Stock Collapses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com