Therefore, he said he has a new stock in the sector which he believes could be the next eBay: Gmarket (GMKT Quote).
"This is the new South Korean eBay," Cramer told his viewers. Gmarket, which has established its brand in South Korea, is already "winning" on its home turf despite the company still being very young, he said. And even though Cramer doesn't understand the Web site much, he said it's "viscerally more pleasing than eBay." Plus, Yahoo! (YHOO Quote), which Cramer owns for his charitable trust, Action Alerts PLUS, owns 10% of Gmarket and plans to help it expand beyond Korea, he added. But the first reason Cramer wants people to look at this company is because of its growth. While some people may consider it risky to invest in a small, Korean, eBay-like company, he said that Gmarket's revenue is not only up 125% year over year, but also has zero debt and is inexpensive. "It deserves to sell at a much higher price because it blew the lid off the last quarter," Cramer said. And it's "massively undervalued" compared with its peers, eBay and Amazon.com (AMZN Quote), he added.
As Gmarket is a new publicly traded company, its share lockup expires Wednesday. Cramer advised viewers to do their homework on the stock Monday night and Tuesday, and to buy Gmarket after its lockup ends on Wednesday.
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