Cramer's 'Mad Money' Recap: Cash In on CEO Withdrawals

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"Some CEOs can be so idiotic that their stocks will leap the moment they get canned," as evidenced by what happened with Bristol-Myers (BMY Quote) today, Jim Cramer said on his "Mad Money" TV show Tuesday.

Cramer predicted three weeks ago on his Aug. 17 show, CEOs Who Should Go, that Bristol-Myers CEO Peter Dolan would get fired. He also told viewers the stock, which he owns for his Action Alerts PLUS charitable trust, would go much higher, which it did. Bristol-Myers closed up 93 cents, or 4%, at $24.32 Tuesday.

In the CEO Hall of Shame show, Cramer also named four other CEOs who "could instantly add value to their companies by getting sacked." These four CEOs included Avon's (AVP Quote) Andrea Jung, Marsh & McLennan's (MMC Quote) Michael Cherkasky, Bausch & Lomb's (BOL Quote) Ronald Zarrella and Home Depot's (HD Quote) Bob Nardelli.

But at the top of Cramer's list was Bristol-Myers' Peter Dolan. Even before Dolan's departure was official on Tuesday, the stock started to move, he said. Compared to Aug. 17, when the stock was around $21, Bristol-Myers is now at $24, and Cramer predicts it will go to $26, if not higher.

He said he is not selling Bristol-Myers yet, and the other four companies with CEOs on the CEO Hall of Shame list can be bought with the expectation that the CEOs will depart.