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Jim Cramer: El Pollo Loco Shares Still Have Room to Move Higher


TheStreet's Jim Cramer says the crazy chicken, El Pollo Loco’s shares have not hit a high yet. Cramer says El Pollo Loco has some very good numbers. Investors are seeing a new pattern in which a company goes public, moves higher, and then goes even higher on day two, similar to what happened with GoPro and JD.com. But Loco has some comparable sales stores to Chipotle and an average unit volume that's better than Chipotle's when they went public. People are saying this could take Chipotle's 50 mulitple and earn $1 making it a $50 stock. But Cramer says that what is really happening is that institutions are trying to get their full positions on the sliver of shares that were offered. Cramer says the market does poorly when we have overwhelming supply, earnings are bad, and interest rates go sky-high, which is not the case right now.