Sometimes all it takes to wake up the buyers is some hot news and a slow of a decline. For ages, Jim Cramer has said that he is concerned about the market because of the most important group out there—the transports.
Finally on Thursday, the "Mad Money" host saw some positive signs that the formerly hideous transports have a little bit of life left.
There was also breaking news that Dick Costolo, the CEO of Twitter, will resign, effective July 1. Cramer breathed a sigh of relief with this news, as he considers it to be the best, most poorly run company that he knows. He said this not to be mean, but because any company that is talked about this much and has so many investors leaving it because of mismanagement has to be poorly run.
"It is a hidden diamond that seemed to be on the verge of being seen as a cubic zirconium because of an almost universal acknowledgement by everyone I know that the CEO was in over his head. I used to say the only way this company could get better is to call ABC—anybody but Costolo," the "Mad Money" host said.
Cramer viewed the resignation and statement that Twitter still anticipates earnings to be in line with previous forecasts, as just another boost of the fact that investors should own the stock. Now is the time to own the stock while the company fixes itself up, or prepares to put itself up for sale. He still thinks there is a chance for improvement at Twitter under a new CEO, or under the umbrella of another company.
And while the Twitter news was red-hot after the bell, it is what happened during the day of trading that really makes the difference. Thus, Cramer focused on the importance of the larger theme of how transports will impact investor portfolios.
"I think these good things are happening because FedEx is starting to see business improve overseas. I say that because the U.S. has been on firm footing for some time. It's Europe and Asia that have been real downers," Cramer said.
Thus, the leg up in the stock shows that there could be a possibility of a worldwide recovery coming.
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