TheStreet's Action Alerts Plus charitable portfolio manager Jim Cramer says he wonders why people are so reluctant to buy that Nordstrom (JWN) is in close talks to go private. "Maybe they don't know the Nordstrom brothers; honest as the day is long," Cramer said. Cramer said that unless the story is refuted, the stock is likely to go higher.
In addition, Cramer refuted the theory that to survive in retail in the age of Amazon (AMZN) as many retailers continue to shutter stores, a company has to go private. Instead Cramer argued that a retailer simply has to be a visionary, utilizing all the resources offered by VMware (VMW) , New Relic (NEWR) , Red Hat (RHT) , Google Web Services (GOOGL) , Salesforce (CRM) and Microsoft (MSFT) Azure to "get the basics."
Cramer noted that Nordstrom has started the process, but there's still a long road to go. "Nordstrom is pretty far along, but not far enough," Cramer said.
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