It was just last Friday that the Dow plunged over 350 points, prompting Jim Cramer to decide that this market is pure crazy town. But within the craze of the averages, there was one company that reported such an impressive quarter that it managed to skyrocket despite the gravitational pull.
Darden is the parent company of largely known restaurants such as Olive Garden, Longhorn Steakhouse and Capital Grille. The stock roared up to $64 on Wednesday, after closing at $58 just last Thursday.
Can it keep running?
"For years we have known that among the restaurant companies, Darden is one of the most sensitive to the price of gasoline … you would better believe that they are benefiting from that $2 a gallon price," the "Mad Money" host said.
And while Cramer likes Darden very much, he is not willing to pull the trigger at these prices. He would like it even more on a pullback, especially since it currently trades at 19 times earnings which is a large premium to competitors such as Cheesecake Factory or Cracker Barrel.
"Darden is one of the few companies that seems to be doing everything right at the moment, and I think the stock is headed higher long-term, but ideally you should wait for the next big marketwide pullback," Cramer said.