Shares of DowDuPont (DWDP) are down 1.6% in midday trading Thursday, but selling this stock is a mistake by investors, according to TheStreet's Jim Cramer.
Speaking on CNBC's "Stop Trading" segment, he said "the stock is wrong," as it falls lower. It's not the first time nor will it be the last time that a stock reacts incorrectly to the news, Cramer explained.
Even though shares were up more than 6% in the month of January, the move lower might surprise some. The company beat on earnings per share and revenue estimates and even boosted its cost synergy guidance by 10%.
Analysts were only looking for earnings per share of 67 cents, with the actual print of 83 cents per share coming in almost 24% ahead of expectations, Cramer pointed out.
The number was sharply better-than-expected, while revenue of $20.07 billion came in ahead of analysts' expectations by more than $500 million.
Its crop protection unit should deliver strong results next quarter while the breakup appears ahead of schedule. Management is doing a great job, concluded Cramer, who also manages the Action Alerts PLUS charitable trust portfolio.
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