Cramer doesn't like it--
As for Whitman's play on Florida real estate developer St. Joe (JOE - Cramer's Take - Stockpickr - Rating), Cramer said, "There was supposed to be a major pullback. They admitted housing wasn't selling there."
"Now you got a book-value play," Cramer said. "I question this one. ... It seems cheap [but] I'm looking for a catalyst."
Not that I'm a fan of Cramer, but there are always those that love a stock and those that hate a stock. But, the bottom line is, the company is doing very, very poorly. If you like buying the stock of a company that is dying on the vine (revenues down by 67% on an annualized basis versus 2005), then buy Joe.
As for Whitman's play on Florida real estate developer St. Joe (JOE - Cramer's Take - Stockpickr - Rating), Cramer said, "There was supposed to be a major pullback. They admitted housing wasn't selling there."
"Now you got a book-value play," Cramer said. "I question this one. ... It seems cheap [but] I'm looking for a catalyst."
Not that I'm a fan of Cramer, but there are always those that love a stock and those that hate a stock. But, the bottom line is, the company is doing very, very poorly. If you like buying the stock of a company that is dying on the vine (revenues down by 67% on an annualized basis versus 2005), then buy Joe.