“If I’m looking for a foreign play, which I am,” Cramer said during Stop Trading!, “Citi’s number one.”
California’s bond sale has met with strong demand, but Cramer thinks it’s too early to buy the state’s debt. He sees the potential for a tremendous amount of “headline risk,” or negative press, once California’s fiscal year ends on June 30. He said there could be a chance the state is unable to meet its budget deadline, and that would hurt the price of the bonds. Therefore, investors then might be better off buying later in the secondary market.
“That’s your chance,” Cramer said, “not now.”
Lastly, Cramer called out Goldman Sachs for putting Hershey on its conviction-sell list. They did so when the stock traded in the $30s, and on Thursday HSY was fetching about $41 a share. The problem? Goldman “did not give management its due,” Cramer said.
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