Stop Trading!
Cramer's 'Stop Trading!': Sell Circuit City
TheStreet.com Staff
05/09/08 - 03:27 PM EDT
Sell Circuit City CC, Jim Cramer said on CNBC's "Stop Trading!" segment Friday.
"I gotta tell ya," Cramer said, "I think this is a company that is very close to being on life support." He said that Blockbuster BBI, which has offered to buy Circuit City,
"wrecked itself by being involved in this." Circuit City has no "raison d'etre," Cramer said.
Moving on to Citigroup C, Cramer said, "Who cares? It's so bad." He derided the company for continually firing employees and diluting its stock. He said he doesn't know which company he believes in less -- Citigroup or AIG AIG.
Cramer said Citigroup's performance has been subpar. "Were they on the right side of any trade?" he quipped. "Why do I have to own Citigroup when I can own JPMorgan JPM? ... Goldman Sachs GS hasn't issued a lot of stock," Cramer said, pointing out that the company has actually bought back stock.