Lately it feels to Jim Cramer that the biotech group has been getting mauled by bears over and over again. But periodically those declines provide investors with an opportunity to gobble up a high quality stock at a discount, such as Eli Lilly.
Just as oil and industrial stocks have recently been running with the bulls, many other stocks ranging from Valeant to Workday, and anything biotech has been subject to a major sell-off. The value stocks within these groups have tried to make a comeback, but Cramer has only seen one stock actually make traction—Eli Lilly.
That traction ended on Monday when Eli Lilly
"Lilly shareholders are frantically dumping the stock, at one point selling the stock down an outrageous and uninformed 10 points, showing you just how fearful people are of this entire segment," the "Mad Money" host said.
Why does Cramer think dumping Eli Lilly was a huge mistake?