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Media

Allegheny Tech (ATI) Can Still Run According to Jim Cramer

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By Douglas A. McIntyre Published
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On tonight’s MAD MONEY on CNBC, Jim Cramer discussed his stock of the year that is up and still going higher.

Cramer on Friday didn’t want to just pick the stock for next week, but for the month.  Back on January 3 he picked he said that Allegheny Tech (ATI) was his pick then back $36.05 and now it is up at $88.00+.  He picked this because of the titanium operations from aircraft expansions and other areas.  He said if you have held this a long time it is at least time to take half off the table, but you can still buy this stock if you haven’t bought it yet.

You don’t have to sell this or avoid it just because it has more than doubled.  He thinks this is still worth owning because of stainless steel and titanium because they service industries that are still strong.

Boeing locked in $2.5 Billion of the company’s supply just last week.  It is still cheap on forward multiples to any fund manager in the world.

Jon C. Ogg
December 1, 2006

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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