Banking, finance, and taxes
Cramer Sticks With Mastercard (MA)
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On the video section for TheStreet.com, Jim Cramer noted Mastercard (MA-NYSE) about the second day rally phenome’s since shares are up 5% today after a 10% drive yesterday. He is saying that fund managers cannot buy all the shares that they want to at once. He thinks it’s going to $200.00. He notes how the trading desks will short sell shares to them $2.00 higher to give them supply and then they have a hard time covering. Even at $135.00 there aren’t sellers. Cramer thinks sellers won’t come in until $150.00 and this is basically the exact opposite of price fixing. The influx of buyers cannot find enough sellers.
Back on April 10, Jim Cramer was out saying the problems were behind (and shares were at $110-ish then).
Jon C. Ogg
May 3, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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