Cramer's 'Mad Money' Recap: Four Spec Names to Play

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Speculation may sound "irresponsible, reckless and stupid" to some, but protected speculation is something Jim Cramer endorses, the "Mad Money" host told viewers Friday.

The first risky name Cramer wants people to look into is Landec (LNDC - Cramer's Take - Stockpickr), "a small, $12 stock."

It's in one of the hottest sectors right now -- the seed technology business -- he said. Although seed technology might not sound sexy, this speculative stock could make people some mad money, Cramer said.

High corn prices are encouraging farmers to grow more corn and deliver higher yields from the same fields, he explained. And Landec "is a speculative way to play this trend."

The company has come up with Intellicoat, a technology that keeps water from germinating planted seeds until the soil is warm enough for them to grow healthily, Cramer said. It allows farmers to plant seeds four weeks ahead of the ideal planting date.

"If corn is the next oil, then Landec is equivalent to a pressure pumper [that] gets more corn out of the soil," he said.

Landec's main business is to make food packaging that increases the food product's shelf life, Cramer continued. Although Landec's food packaging business is the company's "main revenue generator," what Cramer really likes is its seed technology business.

On a conservative level, he believes Landec has a 27.5% long-term growth rate. But Cramer warned people to use limit orders and not to buy the stock all at once.