Time Warner Inc (NYSE:TWX) stock declined on Wednesday by 12.74% to $74.34 in pre-market trading, after Rupert Murdoch’s Twenty-First Century Fox Inc (NASDAQ:FOXA) dropped its $80 billion offer to buy the company yesterday. Discussing the reason of Time Warner’s decline in a program on CNBC, Jim Cramer said that Time Warner stock went down because of the news of Twenty First Century dropping its offer to buy the company. He thinks that Time Warner Inc (NYSE:TWX) is still a winner and those who are selling this stock must hold it for a few days because Time Warner Inc (NYSE:TWX) will catch up in the coming days. Jim Cramer also mentioned Tesla Motors Inc (NASDAQ:TSLA) and Netflix, Inc. (NASDAQ:NFLX) and said that these two stocks are showing great progress and can be a hot option in the coming days.
“I just think Time Warner Inc (NYSE:TWX) is a winner here not a loser, they do have a very big buy back in place, you have to understand that people who own Time Warner stock are not who you want, they are not your friends […],” said Cramer.
Cramer also said that Time Warner Inc (NYSE:TWX) needs a little bit of time in order to get its stock back in business because the stock base is a bit shaken now. He said that most of the investors who sold Time Warner Inc (NYSE:TWX) are panicked and this is the reason behind the depletion of Time Warner Inc (NYSE:TWX) stock. The investors should wait and see the market trends in the coming days.
Since Rupert Murdoch made the offer of $80 billion, Time Warner Inc (NYSE:TWX) stock got a rise of about 20%. Although Twenty-First Century Fox Inc (NASDAQ:FOXA)’s offer gave boosted the stock, Time Warner Inc (NYSE:TWX) had no plans to accept the offer.
Answering a question about Tesla Motors Inc (NASDAQ:TSLA) and its targets, Cramer said that this is the most over-appreciated growth trajectory he has ever seen. He said that apart from Tesla Motors Inc (NASDAQ:TSLA), Netflix, Inc. (NASDAQ:NFLX) is also on the rise and doing fairly well even after some restrictions. Cramer added that Tesla Motors Inc (NASDAQ:TSLA) is going to meet its targets in the future. Pac Crest has recently initiated coverage on Tesla, setting the “Outperform” rating, with a target price of $316.
Disclosure: None
Suggested Articles:
Highest Paid Actors For A Movie
Most Haunted Cities In America
