Jim Cramer Says Buy Newell Stock
Last night on Mad Money, Jim Cramer discussed the outdoor stocks.
"In the "summer of COVID," it's hard to go wrong with the outdoor stocks, Cramer told viewers. Cramer previously recommended stocks like Thor Industries, Winnebago and Polaris but on Monday night, he added four more names to his list of great outdoor stocks," wrote Scott Rutt in his Mad Money recap. "With super-low interest rates and stay-at-home mandates, more homes are adding swimming pools, Cramer said, and that's great news for Pool Corp. The stock is already up 40% for the year. Likewise, Tractor Supply is the go-to destination for all things lawn and garden. Shares of Tractor Supply are up 54%, but Cramer said the stock can still be bought on weakness."
But what stock would Jim Cramer buy right now?
"I am gonna roll the dice and say Newell, I am. I mean, we talked about Newell last night. Newell is an inexpensive stock versus many of the outdoor stocks. And it's stuck here at 16. They have so many businesses that do well outdoors versus say, versus office supplies. So I think I would go with Newell. I think that one works, and I don't know if I go with Polaris. It's not really working, Thor's had a very big move already. But I think that Newell's the one that has not budged," said Cramer.
Watch the video above.