TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, attributed the jump in stock price to some recent insider buying.
Gary Friedman, the CEO, bought $2 million worth of stock Monday. That's a big order and it's always good to see insider buying, Cramer reasoned, adding that the stock has a 27% short interest.
The company did not delivery a great earnings report for the previous quarter, but a better one looks to be in the cards, he concluded.
- - Written by Bret Kenwell in Petoskey, Mich.