Cramer Says He Cannot Rationalize Selling Intel After a 28% Drop

Jim Cramer said he could not rationalize selling Intel after a 28% Friday plunge, while acknowledging he had overlooked near-term risks as the Nasdaq fell more than 2%. Post-earnings declines in Amazon and Intel weighed on the Nasdaq, which was down 4.7% month to date Friday morning. During the 10:20 a.m. ET (14:20 UTC) Morning Meeting, Cramer said he had focused on Intel's longer-term prospects without weighing short-term concerns enough. He pointed to a recent share offering intended to finance additional spending and CEO Lip Bu Tan's large purchase of the new shares. “Did I get fooled?

Source: TokenPost