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Never take your cues from the weakest player in the industry, Jim Cramer said Thursday on CNBC’s “Mad Money.” It doesn’t matter if the business in question is food, retail, machinery … or even robots.
Cramer turned the spotlight to Mako Surgical and Intuitive Surgical — two very different hi-tech medical equipment companies that build advanced robotic surgery systems. And while Mako shares have been hit hard lately because of lowered guidance and mismanaged expectations, the stock has taken Intuitive down with it. But this move just doesn’t make any sense, Cramer said. Bad news for Mako isn’t necessarily bad news for Intuitive.”
Mako stock fell Monday night after the company came out and cut its full-year guidance. Shares of the hi-tech firm fell 10 points — marking a 43 percent loss in value — and in the past four months alone, the stock has slumped from $45 to less than $15 per share. And while Mako once enjoyed “turbo-charged growth,” that growth has substantially slowed.
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