Shares of consumer-products giant NewellBrands (NWL) have struggled since peaking at $54.89 in August following last year's merger with Jarden, but Jim Cramer says the firm is partly a victim of Donald Trump's election.
"I think there would have been much more aggressive layoffs after the merger between Newell and Jarden if Trump had not been elected," Cramer said during his latest conference call with members of his Action Alerts PLUS investment club. "There would have been a lot more offshoring, too -- they would have taken [manufacturing] to Mexico. That was what Jarden was doing."
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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