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Insider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey

Insider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey

Business

Business & Economics

Phillips 66 (PSX) Suffered From An Overreaction After Elliot Victory, Says Jim Cramer

Insider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey
Summary
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Phillips 66 ( NYSE : PSX ) is a diversified American oil and gas company.

The firm operates in the chemicals, oil refining, storage, and transportation industries.

It made its way to Cramer ’s morning appearance as activist investor Elliott won two board seats.

Cramer attributed the fall to an overreaction: “I think there are people who felt that there could be an immediate transaction or something which was never the case”.