Jones Apparel (JNY) Spikes on Cramer Recommendation
Cramer highlighted shares of retailer Jones Apparel (NYSE: JNY) on last night's Mad Money. That's right... a retailer.
Cramer noted Jones Apparel's $2.40 per share in cash, which was only slightly below yesterday's closing price of $3.81. He also called Jones' debt "manageable" and said he would consider buying the stock on a pullback.
This morning, it appears Cramer fan's tuned out the "on a pullback" part and began pulling the trigger right away. Shares of Jones Apparel are absolutely surging today, currently up more than a dollar, or 27.5%, to $4.86. With the retail sector only slightly higher this morning, Jones Apparel is leading the space higher on the Cramer tout.
Jones Apparel Group, Inc. engages in the design, marketing, and wholesale of apparel, footwear, and accessories primarily in the United States and Canada.
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