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Media

Cramer Busts the Short Sellers in Waste Services (WSII)

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By Douglas A. McIntyre Published
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Cramer tonight wanted to review a couple stocks that the Short Sellers have wrong; he calls it SHORT BUSTING.  This is where there are too many short sellers in the wrong stock under the wrong logic. Cramer said when he used to short he was worried the stock he shorted was actually of value.  When the short sellers have to cover in a short squeeze it can really make it move.  He looks at the average volume per day and the insider buying. 

Cramer thinks Waste Services (WSII-NASDAQ) is one of his plays and the shorts are wrong.  He loves waste removal companies.  It has the lowest margins and its expenses are higher.  It trades at 39-times earnings and others are under 20-times.  While it looks bad, 1.5 million shares are short at 5% of the float; but that is 14 to 15 days to cover.  So this is a thin stock with too many shorts for him.  The CEO and 2 hedge funds bought $66 million worth of stock last year.

WSII just popped 11% in after-hours to $11.65; 52-week trading range is $7.98 to $11.00, so this was already close to yearly highs.

Jon C. Ogg
January 30, 2007

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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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