Buy Visa, Jim Cramer said on CNBC's "Stop Trading!" segment Monday.
Cramer made the call in anticipation of
initial public offering, which the company said would be priced at between $37 and $42 a share, raising a total of $15 billion to $17.1 billion. Another possible offering, implemented to meet demand, would boost the total to $18.8 billion. If successful, such an IPO would be the largest in U.S. history.
Cramer compared Visa's decision to sell additional shares to a secondary offering made by
last week. He had strongly urged viewers to get in on that trade.
"You gotta stop selling a lot of the banks that own a lot of Visa," Cramer added. He mentioned
as one example.
Cramer also got behind
. "I think Mastercard's great," he gushed, calling bears on the stock "naked," "polar" and "endangered." He explained that trade is "not an interest rate play. It's a paper-to-plastic play." He emphasized that Mastercard will benefit from an increasing number of transactions worldwide.
About the broader market, Cramer explained, "There are only two stories out here: the monolines and oil." He said that short pressure on
causes the entire market to rise when those two stocks go up.
At the time of publication, Cramer was long XTO Energy.
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