Jim Cramer Says “I’m Proud That We Held on to Our FedEx Freight”

FedEx Freight Holding Company, Inc. (NYSE:FDXF) was among the stocks Jim Cramer discussed on Mad Money, along with the recent sell-off in the market. Cramer believes it can become one of the “best operators in the world,” as he said:

Today’s the day when I’m proud that we held on to our FedEx Freight, the new spin-off that could go from a decent less-than-truckload play into one of the best operators in the world. And remember, we don’t care what kind of company makes the money. Doesn’t have to be a data center money maker.

Stock market data. Photo by Photo by Alesia Kozik

FedEx Freight Holding Company, Inc. (NYSE:FDXF) provides less-than-truckload freight transportation services. Cramer mentioned the spin-off during the June 1 episode, as he commented:

Today, the long awaited break up of FedEx finally arrived as FedEx Freight, their former, less-than-truckload business, began regular way trading on the New York Stock Exchange. That’s under the ticker… FDXF. I’ve said repeatedly that I like this move for FedEx, one of the newest positions in my Charitable Trust… Now, we’ve spent years marred in a prolonged freight recession, but in recent months, the whole group’s been making a nice move higher…

We think it’s a great opportunity. We think that there’s so many ways to rationalize… We want to have some leverage to a better economy, and I think that this can, that would be the cherry on top, so to speak… We think this is a keeper for those of you who bought FedEx with us. We like it.

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