Jim Cramer: Don't Get Distracted by Activism at General Motors

As activist investors set their sights on GM, TheStreet's Jim Cramer says don't get distracted by the outside noise, stay focused on the core story of the company's turnaround.

Author:: Jim Cramer
Publish date:: Feb 10, 2015 12:53 PM EST

A group of hedge funds is looking to get a seat on GM's board. Harry J. Wilson, who helped restructure the automaker as part of the Obama administration's auto industry task force, will nominate himself as a candidate. TheStreet's Jim Cramer says don't get distracted by the outside noise, stay focused on the core story and that is that Mary Barra is a good CEO working on turning the company around. It's got a really good dividend boost, it's right cars, and it got lucky in terms of the price of gasoline going down, says Cramer, but GM is a big cash flow story. He says it's going to happen over time. Cramer owns the stock in his Action Alerts PLUS portfolio but says he wishes he had bought more at $33. Cramer plans on holding it and letting it run.