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) has 5% of its sales coming from Venezuela. Avon Products (AVP) 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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV