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CNBC’s Jim Cramer said Tuesday that Walmart shares should not be lower — characterizing the move as a Wall Street problem and not an indication of anything wrong with the retail giant’s quarterly results.
Shares of Walmart opened down more than 1% and slid further on the notion that the company didn’t raise prices enough in the third-quarter, resulting in disappointing gross margins.
Cramer rejected that premise on “Squawk Box” and “Squawk on the Street,” as well as in his morning Investing Club newsletter, saying Walmart is an “inflation fighter” and a “share taker.”
He praised the retailer for trying to largely absorb increased costs due to product shortages and delays and not passing…
Source cnbc.com
