It seems some people knew that it was going to go higher, while others where left in the dark, he said.
"I'm ashamed by the system sometimes," Cramer said. "I want answers."
Citigroup closed up $1.14, or 2.25%, at $51.85 Friday.
A Vote for China
Cramer said that although he ordinarily never likes to recommend Chinese companies or "Communist stocks" on his show, he's giving in and advising people to buy Global Sources (GSOL). "China is a country that can legally seize any assets it wants," he said. But after doing his homework, Cramer said he would be a buyer of Global Sources. The stock is at $14, and he believes that it is about to take "a not-so-long march" to $20. However, as the stock is "thinly traded," Cramer urged his viewers to use limit orders. Global Sources, which makes its money by selling ads on its Web sites and in its magazines, is the second-largest business-to-business company in China and is in the process of acquiring the No. 3 company. Moreover, Cramer said he wasn't able to hold out on recommending a China-based stock any longer because of Global Sources' numbers. The company should earn 50 cents a share this year and is on track to earn 70 cents a share next year.- Loading Comments...
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