Bullish on Citigroup
In his "Eureka Moment" segment, Cramer said the sellers of
(C) are in the wrong.
Cramer acknowledged that Citigroup has issues with mortgage and credit card risk, along with every other bank, and that the government's 34% stake in the company, along with FDIC chairman Sheila Bair's relentless attacks on the company, are indeed worrisome.
But Cramer believes the government will be selling its stake as quickly as possible after Sept/ 10, the first day its allowed to sell. He said once the government exits, things will be looking up for Citi, and that's why he remains bullish on the stock.
Cramer was bullish on
Johnson & Johnson
(JNJ - Get Report)
(BMY - Get Report)
(BG - Get Report)
(TWX - Get Report)
Bank of America
(BAC - Get Report)
He was bearish on
(TEN - Get Report)
(ADM - Get Report)
(NWS - Get Report)
(ATI - Get Report)
(HAR - Get Report)
-- Written by Scott Rutt in Washington
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