Finally, there's Yelp, the Internet-listings company with a great deal of mobile momentum. Here's one that came public at $15 in March of 2012 and flew up to $24 on opening day. A few months later, as part of a broader June swoon, it traded below the offering price, sinking to $14. But a series of spectacular revenue-growth quarters have now powered the stock up to $52, as it is clear the company can go profitable any time it wants. The international rollout, though, is so strong that every penny should go to it. Smart, smart company.
All three of these stocks have been gigantic winners, and I think they'll continue to be so, given how well they dovetail into the trinity of social, mobile and cloud. I have to believe that LinkedIn, even as it has more than doubled this year, will be able to find buyers right at these levels for the billion offering. That's how starved managers are for the shares of fast-growing companies. The darned thing's worth $27 billion already, and all I can say is: If Microsoft (MSFT - Get Report) had bought this, instead of Nokia's (NOK - Get Report) handset division, it would have been very well received.
I know it's chic to be jaundiced and jaded. But these three stocks have defied numerous short calls and have continued to triumph. Those who felt burned during the last Internet go-around, and even felt vindicate on the blow-ups of Groupon (GRPN) and Zynga (ZNGA) -- or the Facebook (FB) IPO and its aftermath, for that matter -- have to be smarting this time around. Because this time around, for the most part, they worked. They seem to continue working, too, even at these admittedly exalted levels.
At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long FB.