For several weeks, Jim Cramer has been baffled by the mysterious moves reflected in the charts for Joy Global.
"I thought the chart was lying," the "Mad Money" host said.
It turns out the charts were right all along, Komatsu Ltd. agreed to acquire Joy at $28.30 per share, a purchase price that is a 20 percent premium to Joy's closing price on Wednesday.
Joy Global is the 129-year-old company that makes and services mining equipment, predominantly used for coal. The coal mining business has been fading for years. With only a handful of public traded companies related to coal, the biggest ones have filed for bankruptcy.
"Musk manifesto or not, we know there aren't going to be any new coal plants built in this business, and that the sustainable sources of energy that the man behind Tesla pushes relentlessly are the future," Cramer said.