Jim Cramer on Bristol-Myers' Recent Stock Gain: "Unbelievable"

Bristol-Myers Squibb Company (NYSE:BMY) is one of the stocks Jim Cramer commented on along with the recent macro rally. Cramer mentioned the stock during the episode, as he commented:

“Then it might be a comeback to the drug stocks. Why? Well, remember, lots of people think the economy is stalled or in a tailspin. They’re wrong, but they’ll want to participate. When money managers are worried about the economy, they reach for Johnson & Johnson, Merck, Eli Lilly, Vertex… and Amgen, and even lowly worm Bristol-Myers now that it’s got a readout on some drug for agitated Alzheimer’s patients. No, it wasn’t an approval. It wasn’t even a well-run trial. It’s just that they didn’t have to cancel it or say that it doesn’t work. And on that really incredible news, the stock pole vaulted 5.6%. Unbelievable.”

Bristol-Myers Squibb Company (NYSE:BMY) develops and sells medicines for cancer, heart, immune, and brain conditions. Its products include well-known drugs like Eliquis, Opdivo, Revlimid, and Orencia.

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