The Street.com Soars; Cramer Makes Some Dough
Well, you can bet that Jim Cramer is going to be in a good mood on Mad Money this afternoon.
Cramer, you might remember, is chairman of TheStreet.com (TSCM), and among the company’s largest holders, with a 12 percent stake as of the company’s last proxy filing. After the close yesterday, TSCM got caught up on its financial filings; the online business news site had fallen behind due to some accounting issues. TheStreet, in effect, came back to the land of the living.
One thing that was clear from the filing is that the stock may have become artificially cheap, and as of yesterday’s close was trading below the level of its balance sheet cash. But faster than you can yell Boo-yah! the market has taken care of the problem.
