Cramer’s talked a lot about hedge-fund selling lately. Poor performance has clients clambering for their money back, so hedge funds are selling huge chunks of their holdings to raise cash. As a result, some strong companies are taking a beating.
Quanta Services is one such company. It builds transmission lines for energy, cable, natural gas and telco firms, and also does hurricane cleanup. Chairman and CEO John Colson told Cramer today that business is good despite the credit markets. Despite all the talk of cutbacks on major projects, Colson hasn’t seen any slowdown. So Quanta is looking like a classic case of broken stock, rather than broken company. And that situation is usually a buy on Mad Money.
But see what CEO Colson had to say before you make your decision. He and Cramer covered everything from wind tax credits to solar power to the effects on business from an Obama presidency. Watch the video for more.
Jim’s charitable trust owns Quanta Services.
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