Jim Cramer came back on CNBC’s MAD MONEY with a “Part 2” of his basket of 5 speculative technology stocks for investors. The second pick named Tuesday was Brocade Communications Systems, Inc. (NASDAQ: BRCD), what he called a $5.00 “tech has-been.”
Cramer said he thinks it could come back strong. Its Foundry deal hurt the stock, but it just expanded its pact with IBM (NYSE: IBM) With $1.2 billion in debt, Cramer said it has a bad balance sheet and that is why it is so speculative.
He also noted that it is about to step into the blade-switch arena that is dominated by Cisco Systems and it only needs a tiny bit of market share to be a huge winner there. He would rather see you buy it the day after Cisco’s earnings to avoid that fall-out there.
Keep in mind that this one has traded in a range of $2.05 to $9.09 over the last year and it closed down 2.3% at $5.88 today. Its after-hours post-Cramer tout price looks to be up about 8% at $6.37.
His first speculative tech stock from Monday was Tekelec (NASDAQ: TKLC), and here are the full details of that pick.
JON C. OGG
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