Analyst Downgrades TJX Stock
- An analyst downgraded the hot retail stock of TJX Companies.
- The Investing Club discusses the impact during their 'Morning Meeting'.
- Investors are evaluating the implications of the stock downgrade.
On August 22, 2024, the CNBC Investing Club with Jim Cramer hosted its daily "Morning Meeting" livestream, where Cramer discussed the current state of the market and portfolio strategies. The S&P Short Range Oscillator has reached overbought levels at 7.29%, prompting a review of potential stock sales. Cramer noted that the market has rebounded significantly since a recent sell-off linked to the Japanese yen carry trade. Cramer highlighted a notable stock performance, with an unnamed off-price retailer's shares rising 6.1% to a record high of $120.23 following a strong earnings report for the fiscal 2025 second quarter. Despite this positive momentum, Cramer expressed concerns about the sustainability of such gains, indicating that the market may have peaked for the time being. In discussing corporate leadership, Cramer addressed Disney's current CEO Bob Iger, whose contract extends through 2026. He suggested that this could hinder the company's ability to find a suitable successor who can effectively manage its diverse challenges. Cramer advocated for a younger CEO to lead Disney into the future. As a member of the CNBC Investing Club, subscribers receive timely trade alerts before Cramer executes any transactions in his charitable trust's portfolio, allowing them to stay informed and potentially capitalize on market movements. The club emphasizes that no fiduciary duty is created by the information shared during these sessions.