Jim Cramer Says "It's Too Early To Buy" lululemon athletica (LULU)

We recently published 15 Stocks Jim Cramer Mentioned As He Said Quantum Computing Worried Him. lululemon athletica inc. (NASDAQ:LULU) is one of the stocks Jim Cramer recently discussed.

lululemon athletica inc. (NASDAQ:LULU) made the news earlier this month after its shares closed 18.6% lower on September 5th. Media reports attributed the dip to the firm’s latest earnings release. As for Cramer, he has frequently discussed lululemon athletica inc. (NASDAQ:LULU)’s legal troubles with Costco. The firm has sued the retailer for copyright infringement, and in this appearance, Cramer discussed Needham downgrading the stock to Hold from Buy:

“Carl just when you thought that Lulu couldn’t go any lower and there was nobody left to downgrade. Needham comes on, Buy to Hold, didn’t know anyone was left. It’s a competitive environment. And the top of Lulu I’ve always felt was when Costco came against them. So, what can I say, I mean. This company now sells at eleven times earnings. Calvin McDonald, we’re still waiting for him to come up with something that makes you feel like you should own the stock. And I happen to think Calvin McDonald’s very good. But it’s too early to buy Lulu. Which is remarkable.”

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