He said that when no one has faith in a stock, it can make the stock attractive. While Sprint isn't the best in its space, it's up 137% this year so far, making it the
"It's still priced as if it's going to disappear under it's heavy debt load," he said, but he wasn't worried about the company's debt because Sprint generates more than $3 billion in free cash flow.
He called it an incredible opportunity at its Tuesday closing price of $4.35 and especially under $4. The stock closed on Wednesday down 16 cents, or 3.7%, at $4.19.
Cramer was also bullish on
Research In Motion
, which posted an earnings beat on April 2. Cramer liked its cost-cutting efforts and the fact that its subscription numbers are rising.
RIM closed up $1.96, or 3.3%, at $61.91 on Wednesday.
He wasn't as big a fan of the
UltraShort Financial ProShares
ETF, however, labeling it the "ETF of mass destruction" and calling for it to be banned.
Not only doesn't the ETF accomplish what it claims to -- it should be up double the decline of the financial index it tracks but instead hit a new 52-week low recently -- but Cramer wouldn't want to short that group of financials anyway. He said the only way for the strategy to work would be to short individual names, not with an ETF.
The ETF was down $1.33, or 1.5%, to close at $88.52 on Wednesday.
segment, Cramer said he was going to give
new CEO a chance and that the stock's a buy.
On Wednesday, Yahoo! added 11 cents to close at $12.92.
He didn't like
because he's worried about its competition and doesn't like the airlines. "I want to stay away," he said.
Boeing was up 23 cents on Wednesday, closing at $36.87.
is a "good situation" but nothing to rave about. He preferred
Teva closed up 65 cents, or 1.4%, at $45.80 on Wednesday, while Abbott added 75 cents, or 1.8%, to $43.67.
At the time of publication, Cramer was long Abbott.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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