Cramer said you need to look at Internet companies not for value but you want them for growth. Cramer was discussing the next eBay (EBAY) as a stock called G-Market (GMKT). That is the established e-Bay of its type in South Korea and they are winning on the home turf. GMKT just popped 10% to $22.60 in after-hours trading. Yahoo! owns a stake and they are expanding beyond Korea. The company has no debt and Cramer thinks with Goldman really being a promoter of the company’s 24-times 2007 earnings it is a winner. It has over 100% growth and he can’t find earnings growth and value like this anywhere else. It is a new public company and it has a share lock-up on wednesday, although he doesn’t expect insiders to unload. He said you can buy on Wednesday or Thursday after the lock-up. The stock is thin volume here and mostly trades in Korea.
Jon C. Ogg
December 18, 2006
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