Get ready for a resurgence in biotech, Cramer said during a special Stop Trading! from the campus of the University of Southern California.
There has been a three year bear market in biotech, but it looks like it is ending, Cramer said. From Genzyme to Gilead to Amgen , Cramer thinks the sector has bottomed and it’s now time to own these companies again. “Every one of these [stocks] is in bull market mode because the economy is slowing,” he said.
Cramer also agreed with Peter McCausland, the CEO of Airgas , who said earlier on CNBC that his company is growing and he doesn’t see a recession looming. Cramer likes Airgas for its international exposure and doesn’t believe its leverage to the commercial real estate market will hurt it, as there has been “no evidence” that market has rolled over. Chemical companies, including Airgas, are benefiting from the decline in natural gas by putting through price increases while raw costs are in decline. Cramer said: “That’s nirvana.”
Mad Money will be at the Marshall School of Business at USC on Friday. Be sure to check back here for exclusive photos and a real-time recap of the show.
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