He said there is an $87.00 stock that is going to $250.00 in the next two years: New York Stock Exchange. He said it is still noted by Wall Street as fully valued, but they are wrong. He said it doesn't even matter that it was up $5.00 today and you would wonder why it isn't up even more. He said there are no sellers of the stock. The specialists aren't selling, the old Archipelago holders aren't sellers. Cramer thinks a NYSE & Euronext combination could be huge.
Cramer said he was shocked at how quiet the floor was yesterday because it is thinning out. Cramer thinks the floorless trading is coming soon rather than later. he said the 500 worker cut this week was 17% of its workforce and they recently closed one of the five trading rooms.
Cramer enumerated the reasons he thinks the stock can get to $250:
- hybrid systems rollout is speeding up trades
- the exchange won't have to get into a bidding war over Euronext
- while it was archaic and poorly run, it is now well-run, with massive improvements
- Euronext savings will be $600 million
- working deals in India and Japan, and
- he hybrid system will help trim that $350 million in floor operation expenses.
Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in teh companies he covers.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
Reader Comments (Page 1 of 1)
1-25-2007 @ 12:25PM
Nick Davich said...
tHE nyx will offer a friendly bid for the LSE which will end up being accepted. The NASDQ bid for the LSE will fail miserably seeing how NASDQ is so so being hostile in its current offering. NASDQ will sell its 29% ownership in LSE, the stok in LSE will drop and the NYX under John Thain, being very very smart, will step in and be friendly to LSE and its shareholders. Another very good reason to own NYX. the NYX LSE combination will also be huge to NYX!!!!!!!!!!!