Today, Wednesday (actually during yesterday’s after-hours trading) we saw one of the largest Cramer Crackles (the difference between the closing price and the opening price after a Cramer mention) since the first Mad Money episode aired. Did you get some? Cramer pumped Rediff.com as the Yahoo, nay the Google, of India. He mentioned it at 6:13:11 PM ET on Mad Money. Then at 6:14:20 you started seeing it on the bottom of the screen $15.70 up .68, $16.80 up 1.78, $17.31 up 2.29, $17.80 up 2.78. All this by 6:15:37.
Can’t you just see these guys sitting at their computers with their stock order entry form open and filled out with everything except the ticker symbol? By the time Cramer gets the letter F out of R-E-D-F, they’re already hitting the Submit button on their market order for the stock.
The strategy of buying in the afterhours doesn’t always work for the Cramer Crackle play. But this time it did. Whoever got some at $17.80 was able to sell it on Wednesday for between $18.81 and $21.40, that’s up between 5.7% and 20.2% respectively.
The stock’s 90 day average number of shares traded is 393,952. On Tuesday evening between 6:00 and 7:00 it traded 543,250 shares. And the total volume on Wednesday was 12,935,244.
By contrast, Danone (DA) the other featured stock on the same show, had only a 1.3% Cramer Crackle.
Wow, folks sure miss the .com days don’t they?