NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said General Motors (GM - Get Report) appears to have bottomed when the stock's dividend yield reached 3.7%. GM is an AAP holding.
He admitted to being "dead wrong" about the stock because he underestimated the liability issues General Motors faced as a result of its ignition switch recall and the resulting investigations.
Cramer added that CNBC colleague David Faber's interview with Kyle Bass, managing partner of Hayman Capital, had investors "buzzing" about "what GM could present when being sued."
If the secondary offering isn't as big as many investors are anticipating and if the company reports better-than-expected earnings, "this stock is going to go dramatically higher," he concluded. -- Written by Bret Kenwell in Petoskey, Mich.