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Jim Cramer’s Mad Dash: Janet Yellen Was Wrong about Biotechs

Jim Cramer 640x360

On CNBC’s Mad Dash, Cramer discussed the powerful performance of biotech stock Intercept (ICPT) which saw a 16.59% increase on Tuesday after strong data for its liver disease treatment. Cramer said that Fed Chair Janet Yellen made the wrong call when she said biotechs and tech stocks were “overextended, ” and while it is a bit like playing “FDA roulette, ” there are plenty of opportunities in these areas; “This is the kind of stock you should own.”

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HomeAway (AWAY) received an endorsement from a USB analyst, and is like a “Priceline for rentals.” Regarding Priceline (PCLN), Cramer thinks it will be a “consolidator of everyone, ” and may buy HomeAway and Yelp. Cramer would not bet against high-multiple stocks, because they have a tendency to go higher.

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