Cramer recommended Genesis Lease on May 23 when it was close to $27 – and it plummeted to a low of $19 over the summer. Its CEO, John McMahon, was on Mad Money last week and the stock had a bit of a bounce in the last few days. To find out if there’s more upside coming, McMahon revisited the show and discussed Wednesday’s announcement of a new acquisition that could give the stock some much-needed stability.

The deal involves an acquisition of eight commercial aircraft from General Electric’s Commercial Aviation division. It will create cash flow for the company in the form of multi-lease revenues, McMahon said. And the stock should benefit from a current yield of over 7%, which the CEO called “nuts.”

Genesis Lease’s lease revenues are 30% higher than they were at the beginning of the year, McMahon said. Because of that, the stock’s dividend just got “a lot safer.”

Cramer said he was wrong to recommend it at $26, but right to call it at $22. At its current level, with this new deal and nice yield, it’s time to back up the truck, he said. “That’s what you want in this environment.”

GE, parent company of CNBC, has an 11% ownership position in GLS.

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