NEW YORK (TheStreet) -- The U.S. stock market is inching lower, but some stocks are faring much worse, like 3D Systems (DDD) - Get Free Report, 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.
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) - Get Free Report, 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.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.