Jim Cramer: Be Careful About Chasing Apache
Apache is still surging a day after the company announced a big oil find in the Permian Basin, but investors should be careful about chasing it, said TheStreet's Jim Cramer
Shares of Apache (APA) - Get Report are still surging a day after the company announced a big oil find in the Permian Basin, but investors should be careful about chasing it, says TheStreet's (TST) - Get Report Jim Cramer. Cramer said the stock has already seen some huge gains and the profits may not arrive as quickly as some may expect. Cramer pointed out yesterday that Apache didn't buy this acreage, it discovered the more 300,000 net acres of oil on land it already owned, and the property is expected to be worth billions.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
