Jim Cramer’s charitable trust portfolio, Action Alerts PLUS, owns General Motors (GM), however Cramer calls it ‘one of the worst positions we have in Action Alerts PLUS.’ Even though General Motors may be the worst performing stock in the Action Alerts PLUS portfolio, as Cramer says, ‘miracles do happen’ and the General Motors earnings release before the market open on Thursday, July 23rd was better than previously expected. Shares of General Motors opened $2 higher than their $30 closer on Wednesday. Cramer said that he was previously ‘convinced that Latin America and Europe would never return and that China would even go down because of the crash.’ ‘When they said that Europe could be positive in 2016; that was a major delta,’ Cramer said, referring to the latest earnings release. Cramer added that General Motors looks like it can ‘stem some of the losses in Latin America,’ ‘United States margins were up’ and in ‘China they did quite well’ on top of the optimistic outlook on Europe. Cramer did mention however that the China numbers from General Motors ‘didn’t include the July stock market crash.’ In June, the Chinese stock market, measured by the Shanghai Composite, was up roughly 150% from June of 2014 before it fell by nearly a third, amounting to $3 trillion losses in less than a months’ time. According to General Motors’ 2014 10-K, the company ‘plans to invest approximately $14 billion in China through 2018 and increase vehicle sales volumes by nearly 40% by 2018.’
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
