On tonight’s MAD MONEY on CNBC, Jim Cramer says he has a stock that can offer some insulation and even some profits from the blow-up in subprime. He said you will make money on this as subprime lenders blow-up in Annaly Mortgage Management, Inc. (NLY-NYSE), but keep in mind this is a very recent re-visit and second round he has visited it. The CEO Mike Farrell predicted this and the CEO stuck his neck out and repositioned his company to profit. Cramer said it is a liquid stock, and Cramer said he hasn’t always been right about it because he has doubted it when he shouldn’t have. Cramer thinks it may double now that they raised cash and if the fed blinks and cuts rates NLY will be the first to benefit because of their management.
NLY has a 52-week trading range of $11.83 to $15.90 and shares are up 3.5% at $16.11 after-hours. Cramer just interviewed the company on a video on the evening of April 10 when the stock closed at $15.64. It closed at $15.55 the next day and closed unchanged at $15.55 today.
Jon C. Ogg
April 12, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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