"Ruckus now trades around $21, that's up 45% from where the IPO priced, and up 77.5% from the low where it went out on its first day of trading. The stock is so hot I wish I'd brought it to your attention earlier," said Cramer.
But it's not just the momentum that Cramer likes. The Mad Money host believes the fundamentals support the price action.
"This company has managed to go a long way towards solving one of the biggest and longest standing problems when it comes to providing Wi-Fi access," he said.
That big problem is Wi-Fi's vulnerability to interference.
Because Wi-Fi uses unlicensed parts of the radio frequency spectrum other devices such as cordless phones, microwaves etc. that use those same parts of the spectrum can mess up your connection.
Ruckus, however, has a solution to fix it.
This company has developed Wi-Fi systems that can adapt to the environment in real time in order to avoid interference and get you the strongest, most reliable signal possible.
Confused? Essentially, the company has built a better mousetrap. And it's selling that mousetrap in a sector that's about to explode.
The overall Wi-Fi equipment market is expected to grow from $3.4 billion in 2011 to $8.4 billion in 2016, a 20% compound annual growth rate.
To make the stock that much more attractive, Cramer said Ruckus is winning share aggressively within that market. "I believe they will do much better than the average Wi-Fi player," said Cramer.
If so, it's important to note that Cramer isn't saying load the boat here. Instead Cramer thinks the stock belongs on your radar.
Since the IPO, which was only months ago, the stock has had an enormous run.
"Ruckus is now selling for six times sales and 126 times this year's earnings estimates, which is sky-high even considering the company's 28% long-term growth rate. I think the technology here is incredible, but my view is that you have to wait for a pullback before it's safe to buy the stock," said Cramer
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