Jim Cramer says investors should stay away from Kraft Heinz because the company doesn't have a sustainable path to growth.
Kraft Heinz has a $39.1 billion market cap. The stock is down more than 25% this year and more than 46% in the past 12 months.The Facebook logo is displayed during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California.The federal government is the one wild card on Wall Street that is wreaking havoc on stocks, Cramer said.
President Donald Trump campaigned on business-friendly promises to cut red tape, but federal agencies led by his appointees have "declared war" on big tech and it's a "rude awakening," the host said. "After today, this White House is clearly not as friendly to big business as I know I thought. The days of corporations getting a free pass is over, unless they happen to be in Republican-friendly industries like coal and oil," he said. "That is a major shift, it's not getting enough attention."Cyclical companies that are too attached to the business cycle tend to be doomed when the broader economy slows.
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