In April, Cramer put Avon CEO Andrea Jung on his "Wall of Shame," only to remove her later, and recommended homegamers wait for her departure from the company before buying its stock. Well, Jung is still at the helm of Avon [AVP 21.88  0.56 (+2.63%)  ], but Cramer now thinks the stock is simply too cheap to pass up.
Since putting Jung on the "Wall of Shame" in April, the stock has dropped from $28 to $22 a share, which is a 21 percent decline. So Cramer thinks the price is right, especially considering it pays a 4.2 percent dividend yield.
Cramer isn't recommending buying this stock solely based on the fact it's cheap, though.
OOOPS, and thank goodness he had another reason for his recommendation! Gonna try for a starter position today. It will either go under, which I doubt, or Jung will leave and the stock will pop. Either way, it won't hurt me, and might give me some spending money some day! |
