Cramer's Stock of The Year - NYX
First a disclaimer. I own this stock. Cramer owns this stock in his charitable trust. Don't buy this stock because I said so. Don't buy the stock after you read this. Do your own homework.
Now the story. Every year, Jim Cramer picks his stock of the year. I didn't buy his stock of the year last year, but it ended up doing something ridiculous like going from $36 to $88. I don't even remember the name of it.
So this year, Cramer picked his stock of 2007. And it is the NYSE Group (NYX). This stock isn't for the weak stomachs though. Cramer says: "If you're comfortable taking a few risks to make more and more mad money, NYX is for you."
Cramer feels that the earnings estimates for this stock are way to low and once the NYSE completes its transition to electronic trading, the cost savings would be incredible. Currently the stock trades at about $105. In the past two weeks it was as low as $93. I had bought in at about $99.
Cramer's price target? $240
We'll see in a year.