Cramer: Wait on Monsanto (MON)
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Price: $10.07 --0%
Rating Summary:
11 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 15 | New: 42
Rating Summary:
11 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 15 | New: 42
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During the 'Lightning Round' of last night's Mad Money, Cramer recommended waiting for shares of Monsanto (NYSE: MON) to pullback before pulling the trigger.
When a viewer called in asking about the popular ag play, Cramer gave a stern "I'm concerned..." pointing out the stock's recent run-up: Monsanto is up about 23% since the beginning of May, when shares were trading around $110. Now trading at around $138, the President of Cramerica said current levels are too high and notes that investors could get hurt if oil sinks. Cramer said that if crude goes under $130 a barrel, investors will be able to buy Monsanto "in the $120's".
Despite the bearish near-term tone, Cramer couldn't keep traders away from the stock this morning as shares of Monsanto are moving in pre-market trading. After closing at $136.34 yesterday, Monsanto has moved up nearly $2, or about 1%, about an hour before the market opens.
Monsanto is not the only ag name that has been on the rise lately: shares of Potash (NYSE: POT) and Mosaic (NYSE: MOS) have also seen 20% rises since the beginning of May amid record breaking intraday spikes in crude oil prices.
When a viewer called in asking about the popular ag play, Cramer gave a stern "I'm concerned..." pointing out the stock's recent run-up: Monsanto is up about 23% since the beginning of May, when shares were trading around $110. Now trading at around $138, the President of Cramerica said current levels are too high and notes that investors could get hurt if oil sinks. Cramer said that if crude goes under $130 a barrel, investors will be able to buy Monsanto "in the $120's".
Despite the bearish near-term tone, Cramer couldn't keep traders away from the stock this morning as shares of Monsanto are moving in pre-market trading. After closing at $136.34 yesterday, Monsanto has moved up nearly $2, or about 1%, about an hour before the market opens.
Monsanto is not the only ag name that has been on the rise lately: shares of Potash (NYSE: POT) and Mosaic (NYSE: MOS) have also seen 20% rises since the beginning of May amid record breaking intraday spikes in crude oil prices.
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