CNBC’s Jim Cramer on Thursday told a caller that he likes Caterpillar, but the stock is letting him down.
“If I could hit myself over the head with a hammer because of this Caterpillar I would,” the “Mad Money” host said.
The large machinery manufacturer, holding a $64.8 billion market cap, has watched its share price drop nearly 10% this year, and the year-over-year comparison is nearly 13% under. Cramer thinks the company is undervalued, but it has yet to bounce as he expected.
“The stock, I think, is cheap, but I think it’s going even lower,” he said.
People walk on Wall St. outside the New York Stock Exchange, August 7, 2019.
Brendan McDermid | Reuters
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