Old cars are out, new cars are in. At least on Wall Street.
While the stocks of auto-parts makers for new cars have ramped, those that service the aftermarket have not. People seem to think that the jump in car builds means consumers are trading in their jalopies for a new Beemer. As a result, companies like Cramer fave Monro Muffler Brake have taken a real hit—MNRO’s down $4 from its 52-week high in just two weeks.
Larger-than-expected build or not, Cramer isn’t about to give up on a stock that’s made so much money for his viewers. (Monro’s up 135 percent between his August 2008 recommendation and Friday’s close.) There are still plenty of old cars out there, he said. Not to mention, this company, the largest pure play under-car service chain in the U.S., has captured a lot of business from car dealerships that either closed or charge too much for their services.
But before he doubled down, Cramer wanted to do the requisite research before he recommended MNRO again. And what better way to get an insider’s look a company than to talk to its CEO? That’s why “Mad Money” Monro’s Robert Gross to stop by the show. So, is this pullback in share price buyable or not? Watch the video to find out.
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