Jim Cramer Says "I Want You to Scale Out of Verizon"

Verizon Communications Inc. (NYSE:VZ) is one of the stocks on Jim Cramer’s radar recently. When a caller mentioned that they have had a position in the stock for the past two years, Cramer commented:

“I’m going to liberate you from Verizon. Nope, I don’t want you, I want you to scale out of Verizon. It does yield 6.7%.”

Verizon Communications Inc. (NYSE:VZ) provides wireless, broadband, and wireline services. The company offers mobile connectivity, fixed wireless access, fiber-based products, and related devices for consumers. In addition, it delivers networking, security, voice, IoT, and communication support services. During the October 16 episode, a caller asked about the stock and mentioned Verizon Communications Inc.’s (NYSE:VZ) “big cash flow and a fat dividend”. Cramer responded:

“I think Verizon is kind of like a bond that can move up a little bit. I applaud your decision, with the 7% yield, I think it’s, it’s a really good idea.”

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