Cramer: Google's Recent Drop is Just a 'Bad News Bottom'
China's Foreign Ministry said on Tuesday that it did not accept accusations from Google that the Chinese government was making it difficult for Gmail users to use the service in the country.
And on Thursday, it was reported that Ohio and Wisconsin could be launching an antitrust investigation. The EU already is looking into allegations that Google blocked a smaller search engine, and Italian antitrust officials recently closed an investigation of the company.
All of this and Google's stock is up over the last several days.
"This is what I call 'bad news bottom,'" Cramer said on Thursday's Stop Trading!.
"We had one of these recently in Netflix, we're having one also in Amazon where there's been a lot of bad news," he said. "Once people in the analyst bunker see good news, see stocks go higher, they come out and re-recommend and that's how you get the spiral."
Cramer also talked about the recent lawsuit against MedcoHealth by the California Public Employees Retirement System, which seeks to force Medco to pay restitution for what the lawsuit calls "bribes" and "clandestine meetings" that forced state workers to pay higher prescription charges.
The stock was down since the suit was filed, as was competitor Express Scripts.
"It doesn't make sense that both should go down, because what Medco can lose Express Scripts can gain," Cramer said.
When this story was published, Cramer's charitable trust owned Express Scripts.
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