Cramer Effect On Movado
On Friday Cramer recommended traders get long, “the next Tiffanys” in anticipation of earnings on Thursday. His fans jumped the gun on his suggestion to buy Wednesday and pushed the stock up nearly 10% on high volume.
Maybe he’ll be right and the stock will jump on Wednesday, but likely it will give back most of what its already gained. The stock is rising on Cramer’s word only, the rest of the sector looks weak. The P/E of Movado which was slightly below the rest of the group is now right in line due to the recent gains.
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Posted: March 27th, 2007 under Americas, Equities, General.
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