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Cramer: This Defensive Stock Has Room to Run

“If you want to know what’s working in this environment, then take a look at the new high list — the market’s ultimate winner’s circle,” said Jim Cramer on CNBC’s “Mad Money.” “I like to keep track of the new highs and then wait for a pullback, but every so often you’ll a stock that still’s a great value despite being at its 52-week high.”

Take Cedar Fair, for example. The amusement park operator recently announced year-to-date revenues through the July 4 weekend were up by 5 percent from the year prior, Cramer noted. Since then, its stock has skyrocketed and also pays a juicy 5 percent dividend yield. (RELATED: Cramer's Top Dividend Stocks)

Cedar Fair has posted a 99 percent return, including reinvested dividends, since Cramer first recommended it in August 2011. Even so, he still thinks it has more room to run. After all, he likes that Cedar Fair boasts “domestic security,” meaning the underlying company has no exposure to Europe’s ongoing debt crisis.

To learn more about its prospects, he welcomed CEO Matt Ouimet onto the program. Check out the video to see the full interview.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

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