NEW YORK (TheStreet) -- "No one's picking up on this and it's surprising to me," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said in regards to Venezuela's plan to relax its foreign exchange system.
On CNBC's "Cramer's Stop Trading" segment, he pointed out how many retailers operate in the country. Colgate-Palmolive (CL - Get Report) has 5% of its sales coming from Venezuela. Avon Products (AVP - Get Report) has 5%, Clorox (CLX) has 3%, Procter & Gamble (PG) has 2% and Kimberly Clark (KMB) also has 2%.
And as these companies -- as well as many others -- have continued to warn investors of the negative effects that Venezuelan currency swings are having on their business, this reform will actually be good for them.
This is "very significant" for these companies, Cramer said, as investors have grown tired of hearing the negative news.He concluded that each one of the stocks he listed are ones that investors can continue to own, with the exception of Avon, which he did not like for other reasons.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell Fusion-io Soars Following SanDisk Buyout 5 Worst Strategies for Paying Off Your Student Loans Analyst Goes to Sweden, Returns Home Predicting Vertex CF Drug Failure Adobe's Creative Solutions Will Catapult Shares to the Clouds
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