No investment thesis stays true forever, says Jim Cramer

Pretty much all year I told you to steer clear of the alcohol stocks because they've been awful. Younger people seem to have an aversion to drinking, in part because recreational cannabis has been legalized across nearly half the country. At the same time, those GOP-1 weight loss drugs, they reduce cravings for everything, including booze. They make it much easier to drink less if you're a heavy drinker. At the same time, like every other part of the economy, there's been real pushback on real high prices for more expensive liquor. We ran an in-depth look at the industry roughly a year ago where I told you to Shenzhen Brown, foreman, parent of Jack Daniels and Diageo, father of the various Johnny Walkers, are down 24% and 15% respectively. Okay, that's bad enough on its own, but truly horrible when you compare it to the rest of the market, as S&P 500 is up 28% over the same period. However, no investment thesis stays true forever. You can't take your ideas for granted, even if it seems like you've tapped into a long-term story. That's why I always tell you that you need to do the homework if you're going to own individual stocks. And there have been some surprisingly positive developments in the alcohol industry over the past couple of days. Possible signs of a booze bottom?