Cramer’s Crazy People Stock For A Crazy Market (PSYS)
October 25, 2007 by Douglas A. McIntyreOn tonight’s MAD MONEY on CNBC, Jim Cramer said that his crazy people stock for a crazy market is Psychiatric Solutions, Inc. (NASDAQ:PSYS). He doesn’t like that Medicare and Medicaid is more than 25% of its business, but most of that is geared toward children and is likely insulated from a government spending cutback. New legislation is actually in its favor about private healthcare requiring better mental healthcare coverage, and Cramer thinks this one is the best beneficiary if that goes through. He even said this could be worth $60 rather than $40 based on its growth possibilities.
Shares of PSYS closed up 1.8% at $39.57, and shares rose another 3% to $40.81 in after-hours. Its 52-week trading range is $30.19 to $42.93.
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