Is Globe Specialty Metals Poised to Rebound?
Is Globe Specialty Metals poised to rebound within a point or two from current levels?
That was the question atop Jim Cramer’s mind on Tuesday’s “Mad Money.” After all, Globe Specialty Metals’ stock is down 47 percent from a year ago and barely above its 52-week low.
Globe Specialty Metals produces silicon metal and silicon-based alloys. In certain key alloys, it enjoys a massive market share in excess of 50 percent. The problem is that the silicon-dependent solar and semiconductor industries are a much smaller percentage of sales than you’d think, Cramer said. It also sells into the troubled aluminum and steel industries, he noted. To Cramer, many of these industries could get worse before they get better. Then again, much of the weakness is already baked into Globe’s stock.
To see whether it makes sense to speculate on a rebound within a point or so from here, Cramer chatted with CEO Jeff Bradley. Watch the video to see the full interview.
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