Cramer says the fast food giant has lost momentum in areas where he thought they had some, such as Europe. U.S. sales were also poor. Cramer believes McDonald's no longer has what people want. He contrasts it with Chipotle (CMG - Get Report), which is all natural and organic.
Cramer thinks McDonald's and Coca-Cola (KO - Get Report) are "riding a trend into the sunset." He just does not see their offerings appealing to anyone. He notes they used to appeal overseas despite stagnant U.S. numbers, but now it looks the entire world is stagnant.
Cramer says McDonald's has a good balance sheet and has options to bring out some value, but "they don't have it" in terms of sales and earnings.MCD data by YCharts