The stock mustered a rally after the company reported mixed-quarterly results late last month. On the conference call, management told shareholders that the global economic slowdown has weighed on business and that it saw 2020 would be a transition year — one thing that investors do not like to hear. The whole transports sector has traded less than ideal on the market.
However, the stock rallied 2.5% the day after the June 25 earnings report, gained 2% the following day and has since climbed 4.2% as of Thursday’s close.
“This is a big deal. When a stock rallies on bad news, it’s often a sign that shares have finally bottomed,” the “Mad Money” host said. “At the very least, it usually means that most of the weak hands have been washed out.”
Cramer said investors who were looking for a bullish outlook had already cut the stock from…