It's very tempting to buy a $2 stock, especially if it's in the tech sector, Jim Cramer said on his
"RealMoney" radio show Tuesday.
Although he likes speculation, he said a $2 stock that is not currently a bargain is
One after another, the company's CFO, COO and CEO have resigned and, in addition, the company has no financials, Cramer said.
Tuesday morning, Nortel put out a press release that stated it had been awarded a $3 million contract. Although a lot of people are under the notion that a takeover will occur and that the company is right for picking, Cramer does not believe that this will happen.
is up for the first time Cramer can recall, his sentiment behind the company remains the same, he said.
"It is one of the worst IPOs I have ever seen, and it keeps getting worse," he said. "They should cancel all the trades and give the money back to investors."
The company should not have become public, he said, but it is never too late to change a wrong and make it right.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
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
Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click
here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click
here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.