NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said General Motors (GM) appears to have bottomed when the stock's dividend yield reached 3.7%. GM is an AAP holding.
He admitted to being "dead wrong" about the stock because he underestimated the liability issues General Motors faced as a result of its ignition switch recall and the resulting investigations.
Cramer added that CNBC colleague David Faber's interview with Kyle Bass, managing partner of Hayman Capital, had investors "buzzing" about "what GM could present when being sued."
He said 20.2% of the share count -- 9.4% from co-founder Evan Williams, 4% from co-founder Jack Dorsey, 5.4% from Benchmark Capital and 1.4% from CEO Richard "Dick" Costello -- won't come to the market during the company's share lockup expiration in early May, as previously announced by Twitter.
Cramer pointed out shares of Twitter have a 40% short interest, meaning that many investors are betting on a big secondary offering to cover their short positions.
If the secondary offering isn't as big as many investors are anticipating and if the company reports better-than-expected earnings, "this stock is going to go dramatically higher," he concluded.
-- Written by Bret Kenwell in Petoskey, Mich.