On tonight’s MAD MONEY on CNBC, Jim Cramer said he wanted to review a recent IPO which is a great spot that didn’t perform well. Triple-S Management (NYSE: GTS) is the Blue Cross Blue Shield affiliate in Puerto Rico that came public very recently under its proposed IPO range of $16.00 to $18.00.
Cramer likes when health insurers come public from a non-profit to a for-profit entity, and he’s noted how all the Blue Cross players that came public have done incredibly well and ultimately get acquired. Cramer thinks the company will ramp up margins and profitability in the coming years. The market cap is merely $450 million and Cramer thinks the stock will come back down a bit over the next week or so.
Initially, shares are up 15% in after-hours trading on thin volume at $18.00.
Jon C. Ogg
December 10, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.