Jim Cramer on Bristol-Myers: "I'm Backing off on It"

Bristol-Myers Squibb Company (NYSE:BMY) is one of the stocks Jim Cramer offered insights on. Answering a caller’s query about the stock, Cramer stated:

“I’m backing off on it because I gotta tell you, I’m trying to see some good news in this Cobenfy that I was really all in on and I’m not getting that news yet. And the stock is telling me I’m wrong. I don’t like a stock telling me I’m wrong and not listening because you know what? Even though I got a problem with hearing, I can hear the footsteps of the people leaving Bristol-Myers. So that’s what I feel about it. It is in the Charitable Trust big meeting on Thursday. We’ll have to suss it out a little.”

Bristol-Myers Squibb Company (NYSE:BMY) develops and markets biopharmaceutical products across oncology, hematology, immunology, cardiovascular, and neuroscience. During the November 5 episode, Cramer mentioned the company and said:

“Look, I, my Charitable Trust owns Bristol, looks like a mistake because I, I believed in Cobenfy, which is a, a pretty good product, but it’s not selling well at all.”

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