Jim Cramer Says "Marriott Was Crushed" But it "Makes No Sense at All"

Marriott International, Inc. (NASDAQ:MAR) is one of the one of the stocks Jim Cramer commented on, along with the recent Fed meeting. Highlighting that the stock was hit, Cramer said:

“The market turned on the travel leisure stocks again. Oh God, they keep doing that, even as I continue to tell you that COVID changed the industry permanently. Marriott was crushed today, which makes no sense at all, especially when American Express was up 3% to hit an all-time high.”

Marriott International, Inc. (NASDAQ:MAR) operates and franchises hotels, residences, timeshares, and yachts worldwide under several well-known brands. Artisan Partners stated the following regarding Marriott International, Inc. (NASDAQ:MAR) in its Q1 2025 investor letter:

“We exited Marriott International, Inc. (NASDAQ:MAR), a multinational hospitality company, after a successful multiyear investment campaign. Marriott is a prime example of how we aim to use volatility to our advantage by investing in quality businesses at lower prices. When we initiated our position in March 2020during the COVID crash, its P/E multiple had collapsed from the mid-20s to the high teens, which offered a sufficient margin of safety, in our estimation, to take on the position in an iconic, long lived global franchise with competitive advantages to peers, value conscious management, a flexible financial structure and cash producing capabilities. At the time it was tough to see travel picking up again, though we believed it was only a matter of time. Since that time, travel has been one of the strongest areas of the economy, and Marriott’s stock price is up more than three-fold from its March 2020 lows.”

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Disclosure: None. This article is originally published at Insider Monkey.