Jim Cramer on Waste Management: “I Like the Stock”

Waste Management, Inc. (NYSE:WM) is one of the stocks Jim Cramer put under the spotlight. A caller inquired about the stock, and here’s what Mad Money’s host had to say in response:

“Oh my god, you know, when I saw Waste Management, when it dropped precipitously, I said to myself, this thing has to be bought right underneath $200. I’m going to go, and talk to Jeff Marks for the Charitable Trust. And wouldn’t you know it, it lasted for about three days under $200, and then it shot right up. I like the stock.”

Waste Management, Inc. (NYSE:WM) provides waste and recycling services, including collection, processing, transfer operations, and renewable energy generation from landfill gas. In addition, the company handles regulated waste, secure document destruction, and several industrial and other cleanup services. During the November 4 episode, a caller asked whether they should add their position in the stock. Cramer replied:

“I think you should. Now, the stock was up three today. Seemed, people seemed to realize, wait a second, this thing’s gotten way out of line. It was down and down and down. So what I want you to do is I don’t want you to buy… all at once, okay? Because it could, it was up three today. It could go back down a little. If you want to buy 15, 20, 20 shares, let’s buy five, okay? Maybe 25, buy five, and then stagger it. Don’t buy it all at once because this is a stock that tends to be very, very volatile. So that’s my advice to you.”

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Disclosure: None. This article is originally published at Insider Monkey.