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Cramer: Left for dead, these 3 stocks surging

(Click for video linked to searchable transcript of this Mad Money segment)

"On Monday I saw none other than three left for dead stocks come roaring back to life," Cramer said.

The price action, he added, should not be ignored. The specifics follow:

Citigroup

With shares surging about 15% in 3 months, Cramer said Citigroup earnings confirm his belief that the stock was under-loved by Wall Street for far too long.

"This stock gives you 11% revenue growth, year over year," Cramer explained. "It's hard to get double digit revenue growth in the banking business these days. And you have a terrific decline in loan loss allowances, $21.6 billion at the end of the quarter. Finally, the capital levels are in excellent shape so new requirements shouldn't pose any issue."

All told, Cramer believes these metrics may be enough to trigger additional buying. "I think Citigroup's not done. It's a cheap stock. And the big bets against it may no longer hold water. As far as I'm concerned, It's a buy," Cramer said.

Kutay Tanir | Photodisc | Getty Images

Hewlett Packard

Shares of Hewlett Packard have climbed about 30% in 3 months and Cramer believes more upside may lie ahead due to a recent strategic shift for the better.

"I like what we heard today from the company; the addition of three unbelievably good board members," Cramer said.

On Monday HP announced that Robert R. "Dob" Bennett, former president and chief executive officer of Liberty Media Corporation had joined the board as had Raymond E. Ozzie, former chief software architect of Microsoft and James A. Skinner, former vice chairman and CEO of McDonald's.

"Why does this matter? Quite simply Hewlett Packard is known for having the single worst, most fractious, least helpful, most subversive board of directors out there. These additions allow Meg Whitman, the CEO, to fix that that gigantic problem."

Cramer often will buy a stock as a vote of confidence in the company's leadership. In this case he said, "I like this move very much and I think the stock goes higher."

Leap Wireless

Shareholders of Leap Wireless sure have something to jump up and down about. Leap surged after AT&T agreed to buy prepaid-wireless company for $15 per share in cash, or just under $1.2 billion.

The offer represents an 88 percent premium to Leap's closing price.

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"Turns out that this left-for-dead company wasn't dead at all," Cramer said. Although it may be too late to profit in this circumstance, the Mad Money host thinks the deal combined with results from Citigroup and the addition of new HP board members may be sending investors an important message.

"The left for dead trade might be the single best one for 2013," Cramer said. "I suspect we ain't seen nothing yet."

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