NEW YORK (TheStreet) -- The U.S. stock market is inching lower, but some stocks are faring much worse, like 3D Systems (DDD), down about 11% just after the open. The stock began trading Thursday at $48.45.
On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the investing public loves 3D Systems, but will likely be disappointed today.
Read More: 8 Stocks George Soros Is Buying in 2014
The company missed on top and bottom line expectations. But the stock may move higher, as short-sellers will need to cover their positions, Cramer reasoned.Turning to Micron (MU), shares are down almost 6%. Samsung (SSNLF) plans to up its DRAM production, Cramer said, which will increase market supply and therefore result in lower prices. Lower DRAM pricing hurts Micron, and the stock is likely headed to $29 or $30 relatively soon, he concluded.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell Read More: Has the Auto Industry Peaked?
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts