Investors should take Monday’s stock downgrades seriously
Investors should take note of the downgrades analysts made on a collection of stocks, CNBC’s Jim Cramer said Monday.
Analysts made their calls on General Electric, Boeing, and Clorox, among others, which could signal what’s to come, he said. The Dow Jones Industrial Average shed nearly 84 points on the day, while the S&P 500 rose 0.1% to extend a seven-day winning streak and the Nasdaq moved up 0.2%.
Because the market has had an “incredible” run, many of these downgrades seem to be warranted and action oriented, Cramer said.
“You know my mantra: bulls make money, bears make money, but hogs … they get slaughtered,” the “Mad Money” host said. “I don’t want to be too greedy and that rule has never gotten me in trouble, so we need to take these calls seriously. We always should focus on downgrades. They can be very meaningful.”