Cramer: Buy Art Tech's Offering
Art Technology Group’s secondary offering will be “the first good deal of 2010,” Cramer said during Monday’s Stop Trading!. “People should get in on it.”
Stocks that sell off prior to a secondary offering have played out to investors’ benefit, Cramer said, and that’s just what Art Tech has done.
“They’ve knocked the stock down so well,” Cramer said, referring to Wall Street traders, “that I really like it.”
Art Tech makes a number of e-commerce products that allow consumers to shop online and counts J.C. Penney, Best Buy and Verizon Communications among its 900 clients. Cramer called the company a “good commerce story,” adding that ARTG had “good earnings.”
In earnings news, Exxon Mobil beat Wall Street’s expectations today. Investors often sell XOM ahead of its report because the company has tended to underperform, Cramer said, but “this time they didn’t do badly.” The Mad Money host said he was disappointed that Exxon made no mention of its XTO Energy acquisition.
“We were all looking for information about that,” Cramer said.
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