Cramer's Stop Trading! Owens Corning

Jim Cramer says on his Stop Trading! segment on CNBC Wednesday that Owens Corning had a good quarter and that it is'ridiculous' that the stock is being 'punished.'

Author:: Andrea Tse
Publish date:: Aug 4, 2010 4:19 PM EDT

NEW YORK (TheStreet) -- Jim Cramer said on his Stop Trading! segment on CNBC Wednesday that Owens Corning (OC) - Get Report had a good quarter; Cramer declared that it was "ridiculous" that the stock was being "punished."

Cramer added that investors will look back in a few weeks and regret selling this stock. Although he concedes that the company's stock chart looks bad, he also feels that Owens Corning deserves credit for doing well in "the worst housing market ever."

Cramer asked his viewers to consider what Owens Corning can achieve in a fully-recovered economy.

Cramer also recommended buying

American Tower

(AMT) - Get Report

, a company that he said he thinks has enormous potential given the need for more wireless and broadcast towers worldwide.

Cramer noted that this is a stock that "I've recommended consistently on the show and I am re-recommending it again."

On Wednesday, Cramer also suggested watching

Market Vectors Vietnam ETF

(VNM) - Get Report

. Cramer believes that Vietnam will be the solution to higher cotton prices and higher wages in China for major apparel makers.

Apparel makers that Cramer continues to like include

VF Corp.