Jim's Bargain Bin: Why Cramer Just Bought Disney And This Year's Worst-Performing Dow Jones Stock By Benzinga

Jim's Bargain Bin: Why Cramer Just Bought Disney And This Year's Worst-Performing Dow Jones Stock

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Walt Disney Co (NYSE: NYSE:DIS) shares dropped nearly 15% last year, making it the worst-performing Dow Jones stock of 2021. Disney is off to another abysmal start, trading lower by about 25% just this year.

The mouse, however, is being outpaced by Salesforce Inc (NYSE: CRM). Having fallen more than 30% year-to-date, the cloud computing company is currently the worst-performing Dow stock of 2022.

Why It Matters: Jim Cramer just increased his exposure to both stocks.

"Disney is in freefall, but I thought that to buy this iconic franchise here ... made a lot of sense," Cramer said Wednesday on CNBC.

Anything related to entertainment is out of favor, but Disney+ shouldn't be the focus of Disney investors, he said: "Do not get caught up in Disney+. This is a real company doing real things and we can't even get into theme parks because the line is too long and the place is sold out."

See Also: One Analyst Cuts Disney Price Target (NYSE:TGT), Another Reiterates Buy Rating: Who's Right?

Cramer noted he bought an additional 50 shares of Disney for his Charitable Trust. He also added to Salesforce, but acknowledged it may not have bottomed.

"Could it be down another 20 points? Yes, I'll buy it though. This is a great company" Cramer said.

Although the stock is out of favor now, he recommends investors focus on the future.

"I gave away $570,000 last year and that was because I didn't focus on tomorrow," he said.

DIS, CRM Price Action: Disney shares are down 25.01% year-to-date and Salesforce shares are down 31.03% year-to-date.

At press time, Disney was up 0.29% at $116.10 and Salesforce was up 3.06% at $175.28, according to data from Benzinga Pro.

Read at Benzinga

Read the original article on Benzinga

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