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NEW YORK ( TheStreet) -- On the 10-year anniversary of Google's (GOOGL - Get Report) initial public offering, Jim Cramer told his Mad Money TV show viewers that he's still a strong supporter of the company and its stock.
It's hard to believe that Google came public at a split-adjusted price of just $42.50 a share. But it's even harder to understand why so many analysts and investors have under-estimated Google and what it's truly capable of doing. Cramer called the perpetual pessimism surrounding Google a "failure of imagination" that has persisted for the entire decade the company has been public.
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Whether it was competition from Yahoo! (YHOO) or Microsoft (MSFT) , the inexperience of Google's founders or fears of a second dot-com bubble, Cramer said the skeptics have been wrong about Google at every turn.But Cramer said he's always been a fan of Google, which is why the company is one of the largest positions in his charitable trust, Action Alerts PLUS. With the company's percentage of the advertising market still growing, he continues to be a steadfast supporter, saying Google's stock is still cheap versus the earnings estimates looking forward.