Cramer Suggests SandRidge Spinoff
Cramer on Monday suggested viewers participate in an upcoming offering from SandRidge Energy, namely SandRidge Mississippian Trust II, which will soon trade on the New York Stock Exchange under the symbol SDR.
The “Mad Money” host likes the deal because it’s going to be backed by the hydrocarbons from both the producing wells and others in development on 53,000 net acres in a proven oil formation in Northern Oklahoma and Kansas. Cramer said another reason to like the deal is because CEO Tom Ward has a strong track record of success.
If the past is any indicator, Cramer thinks this deal will offer good distribution and surge to a premium immediately upon its first trade. He’s a buyer.
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