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CNBC's Jim Cramer on Friday reviewed the stock of luxury home goods retailer RH, saying the company could succeed if the housing market strengthens.

"RH is high-risk, high-reward, but it really comes down to how you feel about housing," Cramer said.

The stock has been a "rollercoaster" over the last several years as CEO Gary Friedman attempted to expand the business in the face of an economic downturn and a tough housing market, Cramer said.

RH started to decline about a year ago after the Federal Reserve stopped cutting rates and the Trump administration's tariffs hit countries where RH does most of its manufacturing, he continued. In the months that followed, Wall Street was too worried about the state of the co

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