Cramer's 'Mad Money' Recap: Beat a Path to Crocs - thestreet.com
Excerpt:
"When sentiment turns negative the market yields bargains, and one such deal is footwear-maker Crocs (CROX:Nasdaq - commentary - research - Cramer's Take), Jim Cramer said Wednesday on CNBC's "Mad Money" show.
"Sometimes the market just gives you a great deal. You gotta take it," Cramer said. Crocs, a maker of light-weight, odor-resistant shoes, came public last week at $15 and traded to $30 on its first day. Since then, the stock has been caught in the market's downdraft; it closed Wednesday at $28.
"There was no way Crocs was gonna catch fire when the market was getting beat up," Cramer said. If not for the general malaise, "Crocs would be trading at $35, and that's where I think it's going to go." Cramer highlighted the shoe-maker's 57% gross margins, solid unit growth, and profitability.
"They have a stylish product that's in demand and doesn't have a lot of competition." Cramer said, adding that he sees "seven points of upside and maybe just a couple of downside.""
Read the entire article, Cramer's 'Mad Money' Recap: Beat a Path to Crocs, written by thestreet.com staff for thestreet.com at (http://www.thestreet.com/_googlen/funds/madmoneywrap/10268690.html?cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA)