CNBC’s Jim Cramer’s scratching his head trying to figure out why Macy’s stocks lost value in the second quarter.
“I see a microcosm of pretty much everything I don’t like about traditional bricks-and-mortar retail, even as I think the stock’s dirt cheap and trying to stabilize,” the “Mad Money” host said.
Macy’s reported its second-quarter earnings on Wednesday, and the stock plummeted more than 5 percent in a single session as an aftershock to its major miss from analyst expectations.
Cramer offers lots of reasons, but doesn’t mention the political war the retail outlet initiated with presidential candidate Donald Trump.
Looks like Trump had the last laugh.
Moral of the story: Don’t mess with Trump.
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