We are trimming our position in an industrial stock — and pocketing a 50% gain
We are selling 30 shares of Linde at roughly $450. Following the trade, Jim Cramer's Charitable Trust will own 150 shares of LIN, decreasing its weighting to 2.15% from about 2.55%. Linde shares have been resilient throughout the market turmoil and have maintained gains for the year, even as the S & P 500 is down more than 7%. But we are locking in profits Thursday after learning of a delay in a major clean hydrogen project. Dow Inc said Thursday is has delayed construction of a major chemicals project called Path2Zero in Fort Saskatchewan, Canada, until market conditions improve. Linde said last August will invest more than $2 billion to build and operate a integrated clean hydrogen and atmospheric gases facility at the site. This was Linde's largest single investment and its second new world-scale clean hydrogen project. The Path2Zero project wasn't expected to be completed until 2028, so this update should not materially impact Linde's earnings for the next few years. The industrial gas giant reports earnings next Thursday before the opening bell, and it is riding a 24-quarter streak of exceeding consensus expectations. Despite the company's track record of under promising and overdelivering, we are prudently taking some profits just in case we start to see other projects get delayed in this tarrif driven, uncertain microenvironment. From this sale, we will realize a gain of about 50% on stock purchased in September 2021 and February 2022. (Jim Cramer's Charitable Trust is long LIN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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