NYX Deserves to Be Down 9 Here

Down 9? NYSE Euronext (NYX - commentary - Cramer's Take) down 9? What's the multiple supposed to be here, 20 times earnings despite the growth? Is that optimistic?

In a totally hideous, disgusting day, this one is really horrible and is reflective of a sense that the business is basically done. Finished. Kaput.

When you have a stock down 9, it means it is going down another 4 or 5 pronto, as that has long been the pattern in this game as big money has just buried everyone alive with this stock and will do so again tomorrow.

Cramer: NYX Has Some Explaining to Do

Is that deserving for an in-line quarter?

You know what? As I told Action Alerts PLUS subscribers earlier, yes. You have to deliver a huge upside if you are in the business of being an exchange and IntercontinentalExchange (ICE - commentary - Cramer's Take), Nymex (NMX - commentary - Cramer's Take) and CME (CME - commentary - Cramer's Take) have all done so. REPEATEDLY.

To me, as I told Duncan Niederauer today on the floor of the exchange, if they would close NYSE you would see the stock be higher because it would have faster growth and an ability to quickly pair overhead now that the French have joined us in capitalism.

In a down day, this one's truly awful.

Not much else to say about it, except when we get the downgrades tomorrow.

At the time of publication, Cramer was long NYSE Euronext.

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