Here’s Why Jim Cramer Sees Opportunity in the Troubled Stock of Spice Maker McCormick
October 3, 2023
Despite a recent 10% drop in McCormick’s stock value, Jim Cramer sees an attractive investment opportunity in the spice maker, citing its return to pre-Covid levels as a sign of potential value. While the company’s third-quarter results showed a 2% decline in volumes, Cramer believes the business is fundamentally strong, with an adjusted full-year earnings outlook that has been revised upwards. He attributes the recent stock weakness to the surge in U.S. government bond yields, a trend affecting the broader market.
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