When Will Citi Bounce Back?

For Wednesday’s Mad Mail, Mike in Florida wanted to know what factors would most likely influence Citigroup’s recovery and when, if ever, that recovery would happen. Cramer was quick to differentiate between the stock and the company itself, saying the government has been selling its massive stake in Citi and that has hurt the share price. The bank, however, is seeing improvement in its book value Cramer said, as its “underwater” assets “get better and better each quarter.” This is why he thinks the stock “goes higher” once the government is done selling “and you catch a move to $5.”

Brandon in Oklahoma wondered if Cramer would recommend any Chinese auto stocks. “No,” the Mad Money host said, “we’re not recommending any Chinese stocks, period, other than Baidu .” For plays on China’s car market, Cramer recommended either Ford’s preferred shares or General Motors’ upcoming IPO.

Paul in North Carolina complimented Cramer on his recent coverage of silver and asked if other metals, such as copper and platinum, were worth an investment. Cramer urged viewers to stay away from platinum but recommended Freeport-McMoRan as a play on copper. “And, yes, I am bullish on copper,” he said, “because I am bullish on the Chinese economy—but not the Chinese stock market.”

And finally, Kyle in Nebraska asked why the Cramer-recommended Cree wasn’t performing as expected. Apparently, there have been a number of research notes claiming that a glut of large-screen televisions has forced Cree to cut its prices for its backlighting technologies, and that has hurt the stock. But Cramer reiterated that he didn’t endorse Cree for its backlighting business. Instead, he thinks this is a play on the switch from old-fashioned incandescent light bulbs to new energy-efficient bulbs. So while he may look wrong right now, he said, “I want to double down” on Cree.

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