Jim Kramer says he’s buying Disney after a stake in Netflix News

Of CNBC Jim Kramer On Friday he said he sees sales Disney As a buying opportunity for investors.

Shares of media and entertainment companies fell 6.94% to hit a new 52-week low during the session. However, the “Crazy money” The host said he would not be ashamed of the stock as it seemed to be related to its steep decline Netflix‘S forecast Reduces subscriber growth.

Netflix’s Outlook – issued when the company reported earnings on Thursday night – frightened investors, and the company’s shares fell 21.8% on Friday.

“I would like to own the shares of longtime, best Americans, because of the charity’s status at Disney on Friday, because he mentioned the role on TV this morning.

Kramer’s hope Bought back at Disney in September, For the first time in 16 years and after about three months of being completely out of its position. Hope added stock At the end of November And then back inside December.

Kramer acknowledged on Friday that Disney was “too early” to sell less than it had bought the trust.

“But it’s time to stop associating speculation with investment quality stories.

He said he was looking at various speculative assets, including shares that went public, through cryptocurrencies and the reverse merger with a special purpose acquisition firm as Wall Street prepares for the Federal Reserve interest rate hike.

“But you can not extend the weakness of Netflix, a company that has performed so well, with a whole host of other companies with excellent brand names that make amazing products like Disney and make good money,” Kramer said.

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“I’m not saying I do not own Netflix. At some price, it will definitely be,” he added. “I mean there are a lot of high quality companies out there today because of Netflix, and they’re the best to buy.”

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