With shares up 52% over the past year, Jim Cramer spoke with Ravi Saligram, president and CEO of Newell Brands on a recent segment of his Mad Money show. Shares are up almost 4% over the past week, and are up 21.6% so far this year.
Will the company that sells everything from Sharpie markers to Rubbermaid be able to continue performing as it did during the heart of the pandemic?
Newell has been hit with cost inflation, especially in shipping, Saligram noted, however, much of that inflation he expects to be transitory as the economy reopens and rebalances for changing consumer needs.
Saligram assured Cramer that items like Ball jars will be easier to find going forward as they ramp up production to meet the growing demands for canning and home storage.
Over on Real Money, TheStreet's in-house technical analyst, Bruce Kamich, writes that Newell shares pulled back in late February and early March to briefly touch the $24 area, and very nimble traders may have been buyers. While the charts were bullish, they may be a bit bearish now. The stock has traded in the $17-$29 range over the past year, he noted.