MRV Communications (MRVC) has one division worth potentially the whole value of the company. This is a highly speculative name, and Cramer likes the Optium (OPTM) in the same space.  The company is technically the ugly sister because of two ugly units, but the smallest division is Luminent in optical components that is only 1/4 of the revenues and he thinks this is worth the emntire company.  Cramer thinks the unit may get spun-off from MRVC.  That can be worth more than $570 million its own, and the market cap is $453 million.

MRVC popped more than 10% to $4.09 after he noted it in after-hours trading.  This is a very speculative name that he thinks can double.