When it comes to watching the Lions vs. Chiefs game on Thursday, Jim Cramer has a lot to say about the Disney (DIS) – Get Free Report vs. Charter Communications (CHTR) – Get Free Report beef playing out at the moment.
“Well, I mean, that’s a huge game. And if I have to watch it on wherever they put it, I’ll watch it.” But he isn’t happy about the debacle. And in light of recent circumstances, Cramer has admitted that his stance on Disney has changed dramatically.
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The carriage dispute between $DIS and $CHTR has become a bare knuckle battle, says @jimcramer.
Jim and @carlquintanilla discuss whether the franchise is “troubled,” and whether the situation in the Mouse House needs a deus ex machina. pic.twitter.com/8i1dBWhFxL
— Squawk on the Street (@SquawkStreet) September 5, 2023
“My travel trust owns Disney (stock). I feel very (bad) about it — I made a big mistake,” he said on Tuesday’s ‘Squawk on the Street’. “I made a big mistake because I believed in the franchise, so I thought that Bob Iger could turn it around very quickly. (But) it’s a troubled franchise.”
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“But this fight is existential,” says Cramer. “And all the things in the Charter document are… about what people talk about behind the scenes, which is “Wow, everybody’s doing badly.”
From Cramer’s perspective, it’s too difficult to suss out a winner in this fight. And when it comes to investing, that’s a red flag. “This is a pox on both houses situation,” he explains, “and you tend to want to avoid one of those situations.”
When asked what price he would start to consider going bearish on Disney, Cramer said that “there’s a bear case (for) $75… which I thought was reasonable for the next level to buy again.”
The ‘Mad Money’ host also loves a metaphor, and he also loves a turn of phrase. His analysis of Disney and Charter Communications gives him an opportunity to use both.
“You know (the saying) someone brought a knife to a gunfight? No, man, (these companies) both bought .45 calibers. There’s just a feeling of like, you know what? Last man standing.”
“But Disney… some people say it’s thermonuclear war to thermonuclear war. I don’t because Disney has a franchise — but it’s become one of those situations where we look at the debt picture of Disney and you look at the ESPN hand — there’s gotta be some deus ex machina there.”
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