Weekend Edition: Cramer Keeps Backing MasterCard (MA)
Cramer said there are some other stocks that can make you 50% gains while the rest of your stocks languish. Cramer believes that mastrerCard (MA) is another potential situation like that. It came public around $40 in MAY and has doubled. Cramer said he didn't care and he thinks it is still a sustainable moving stock.
Cramer thinks MA has a lot of upside and the IPO was priced way too low because it came right after Vonage (VG) IPO and Wall Street was desperate not to burn investors with a poor IPO pricing. Cramer said it should have come public at $60 or maybe even $70. He thinks this is an irreplaceable franchise because of its global payment network. He also like demutualizations because they have a history of being inefficient but after the come public they have to start cleaning up and trying to grow.
MA already has a $12 Billion market cap, which I compared to American Express (AXP) $71 Billion market cap. MA closed up 1.1% at $89.20 in normal trading and then traded up another 2.5% to $91.50 in after-hours prints immediately after the Cramer pump.
Cramer thinks MA has a lot of upside and the IPO was priced way too low because it came right after Vonage (VG) IPO and Wall Street was desperate not to burn investors with a poor IPO pricing. Cramer said it should have come public at $60 or maybe even $70. He thinks this is an irreplaceable franchise because of its global payment network. He also like demutualizations because they have a history of being inefficient but after the come public they have to start cleaning up and trying to grow.
MA already has a $12 Billion market cap, which I compared to American Express (AXP) $71 Billion market cap. MA closed up 1.1% at $89.20 in normal trading and then traded up another 2.5% to $91.50 in after-hours prints immediately after the Cramer pump.
posted by douglas mcintyre at 6:27 PM
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