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Thursday, October 12, 2006

Cramer Sticking by Sonic (SONC)

On MAD MONEY tonight Today's market results are perfect for some companies. Cramer said one that is right for the market is Sonic (SONC) as a fabulous restaurant chain according to Cramer. They did a Dutch tender for part of their stock, and this is great for holders at$23.00 per share for 19% of their company. He says 2 great things going for it are that 1) is a regional to national story because they are only in 29 states and are light in California and not even in New York, and 2) great fundamentals and good food and good management.

The stock closed up 1.2% at $22.49 and is now in after-hours up another 2.2% at $23.02; 52-week trading range is $17.85 to $23.65.
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