On CNBC’s Mad Dash segment, Jim Cramer discussed “one of my favorite stocks, ” Zoetis, an animal health drug company spun off by Pfizer. Cramer says he likes the stock, because animal health medications do not need to jump as many hurdles to get approved as regular drugs. Management announced a $500 million share repurchase, and Cramer wonders if Zoetis is trying to fend off Bill Ackman, who needs a new crusade after Allergan, a company he wanted Valeant to take over, is being sold to Actavis.
The trend nowadays seems to be that activist investors get involved with stocks of companies that are doing well, when in the old days, the idea was the revamp a challenged company. Cramer commented there was once some “immunity” for CEOs who were performing well to avoid activists butting in.
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GoPro announced a secondary offering, and Cramer sees a potential short squeeze. Although he was not so bullish when the stock is higher, he thinks it could be a buy into the holiday season.
