On the Line: Riverbed Technology CEO Jeffrey Kennelly
Cramer has been focusing on tech as a way to steer Home Gamers away from the mortgage crisis. Particularly, he’s been on the lookout for high-growth tech companies because those are what did well in 1990 during our last big credit crunch. Riverbed Technology is just what he’s looking for – and while the stock has been performing relatively well, not everyone understands the company’s actual business. To clear things up, Cramer got Riverbed CEO Jerry Kennelly on the line.
Riverbed’s aim is essentially to make it faster and easier for people to work in the office and at home. The company produces what is known as WDS (wide-area data services) for companies all over the world and is currently developing a product called Steelhead Mobile, which is a wireless version of that technology. Kennelly said Steelhead Mobile will give people an “incredibly robust way” to get work done from a laptop anywhere in the world. The goal of the Steelhead Mobile technology is to make working on a remotely as easy and fast as it is in the office, he said.
Cramer thinks Riverbed is an expensive stock, although it has come down recently. He believes the company has “tremendous growth” ahead of it and, under $40, RVBD is a buy, he said.
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