Zillow had some major seesaw action occur with its stock on Tuesday, and Jim Cramer thinks this could have actually been a good thing for the market.
As the nation's largest online repository for home values and listings, Zillow cut its full-year revenue guidance on Tuesday, stating that 2015 would now be considered a transition year due to the slower than expected pace it took to get FTC approval to acquire competitor Trulia.
The stock plummeted on this news, falling $12 at one point before recovering to end the day down only $1.29. Cramer suspected investors were able to shrug off the news because the stock had already fallen dramatically this year and expectations were already low. Basically, no one was looking for a blowout quarter anyway.
"Last night I said some publicly held companies would be worth twice what they are selling for if they were private. Zillow is one of them," the "Mad Money" host added.
At this point, could the stock be too cheap to ignore? Cramer spoke with Zillow CEO Spencer Rascoff to find out.