With the rotation moves of the past few months, this company's has seen a rise in their usually boring, stable stock. Now up over 18% YTD, Cramer is taking profits with the thought by end of year it could swing lower after rate cuts. After rate cuts, tech and riskier options will be back in vogue, leading to some selling this company. Cramer wants to get ahead of that and take profits today!
Keep in mind, this company's P/E pre-covid was always below 20. Since Covid, it's spiked well over 20 and that's just not sustainable. It's a great company, no doubt, and he's not selling all of his stake. But now is the time to take some profits and have that capital to use post rate cuts.
This company is a legend and based out of the great city of Cincinnati! Of course we're talking about Proctor and Gamble!
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