Did you see it? Watch later tonight and see if you see what I saw.
At the end of the lightning round, he took a call just as the buzzer sounded, he finished that call and normally would've gone to a commercial. But he decided to take another call and that call was about MIPS. He said to sell it after mentioning briefly takeover speculation.
I believe that he deliberately took this call just so he could get his sell recommendation out there.
Now why would he do this?
Firstly, I believe that if he did know about any takeover he would have said something so that he could look like the big man. (maybe)
So assuming that he doesn't know one way or the other, why would he deliberately recommend "sell" to the public. I believe it is because he is helping out his friends who probably are the market makers on the options on this stock. The market-making community in this stock in last three days has sold 11,000 July calls. If the stock gaps to 15 they are out a cool 10 million!
It just seemed really, really weird the way he quickly extended the lightning round to take the call to deliberately recommend "sell" when he doesn't know one way or the other about a takeover.
Somehow I happen to agree with Cramer, or at least to understand his reasons for staying away from MIPS. Clearly, with the renewed hope of a buyout, the landscape for shareholders could substantially change, but this is still an open bet and there is no assurance that the rumour will lead to a buyout, much less than the buyout will place a high premium on MIPS shares. The point is that MIPS management in general, and MIPS CEO in particular, have shown a total ineptitude wrt the ability to execute and deliver results. What everyone is really waiting for today, is that thanks to Starboard pressure, some white knight buys the IP and the very valuable engineers, thus putting an end to the pain of seeing such a waste of talent in the hands of worthless management.
90% people knows Cramer is an idiot. However, there are 10% people who are idiots believing this idiot. As such, stock drops 10% at least whenever he bad mouth it. Cramer looks like an idiot, act like an idiot and is really an idiot.