Jim Cramer Discusses These 10 Stocks & President Trump’s Tariffs

4. Canadian Pacific Kansas City Limited (NYSE:CP)

Number of Hedge Fund Holders In Q3 2024: 52

Canadian Pacific Kansas City Limited (NYSE:CP) is a Canadian railroad company that was formed after the merger of Kansas City Southern (KSU) and Canadian Pacific. The shares dipped by 6% after President Trump announced tariffs against Canada and Mexico. The drop was unsurprising as Canadian Pacific Kansas City Limited (NYSE:CP) has tens of thousands of miles of railway track through which it ships goods between Canada, Mexico, and the US. Over the year the shares have lost 6% due to weak economic activity. Here is what Cramer said:

“You know Carl not a lot of downgrades today. And I think that there should have been. I think that Loop Capital downgrading a lot of the transports, particularly the railroads,. . . .. Also of course, we had Canadian Pacific, well KSU, that’s another one. So I don’t think those are what you buy. And I just think that we are not being thoughtful. A lot of stocks are being downgraded today. Now I’m as negative as say David Kostin from Goldman who’s talking about a five percent decline. But I do think that there should have been more downgrades and because transport, commerce’s going to slow. And the rails in particular because that’s how we get a lot of stuff. . . .. KSU’s huge. Those made sense. “