We're selling 50 s of Abbott Laboratories at roughly $129.66 ing Thursday's trade, Jim Cramer's Charitable Trust will own 250 s of ABT, decreasing its portfolio weighting to 0.89% from 1.07%.
We've been slowly whittling down our position — making a pair of recent trades on Thursday and July 21 —ever since the company reported results and it became that the Chinese government's strategy to control health-care costs would be a drag on results for longer than previously expected.
While eventually expected to be resolved, it was enough for management to negatively revise its outlook for the remainder of the year.
The impact of this gram is being felt most acutely in Abbott's diagnostics . In the aforementioned trades, we sold 100 s each.
On Monday, we're going with a smaller, 50- sale to give ourself a bit more time and room to benefit from what is ly positive price action — the stock is up more than 7% since its earnings sell-off , sitting $2 below where it closed July 16.
With Monday's sale, we will realize a gain of 15% on stock bought in March 2024.
Additionally, if not for our trading restrictions, we would be reallocating the cash from the Abbott sale into our position in Starbucks — in line with our ary last week.
Unfortunately, our restrictions are still in effect Monday because Jim Cramer mentioned Starbucks on CNBC's "Squawk on the Street." Whenever Jim mentions a stock on TV, we must wait 72 hours before trading it.
Nonetheless, we're calling out the buying opportunity in Starbucks again Monday because the stock's post-earnings softness does not adequately reflect the positive momentum we're seeing in the .
thanks to Brian Niccol's turnaround strategy. (Jim Cramer's Charitable Trust is long ABT and SBUX.
See here for a full list of the stocks.) As a r to the CNBC with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
If Jim has talked a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
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