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Fed Rate Hike Could Push Disney Shares Lower, Celgene’s Receptos Buy Was Brilliant

June 28, 2023
in Trade Tube
Reading Time: 1 min read
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TheStreet’s Jim Cramer answers Twitter questions from the floor of the New York Stock Exchange. When asked about Disney (DIS), Cramer said he believes shares of Disney could continue moving lower if the Federal Reserve raises interest rates in November. Cramer said, ‘you’re not going to have anything between now and Star Wars.’ He would recommend buying some shares right now at current levels and buying the rest when it hits $100. In answer to a viewer who asked about Celgene (CELG) Cramer said the Celgene (CELG) acquisition of Receptos was ‘a brilliant move’ because it gives Celgene access to new drugs for the treatment of Chron’s disease and Multiple Sclerosis. Another viewer asks about whether they should sell shares of Whole Foods (WFM) given the move to organics that every grocery chain is making. Cramer said he believes Whole Foods could potentially report negative comparable store sales the next time around and that could push the stock down to $20 or $25 a share. Cramer said that at those levels there are bound to be activist investors who will push Whole Foods to make changes that could lead to growth at the grocery chain. If you have a stock question, tweet it to @jimcramer using #CramerQ.

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