Cramer Quick Take: Facebook Hasn't Bottomed
NEW YORK (TheStreet) -- Is now the time to start picking at the carcass of Facebook(FB) ? Jim Cramer told Lindsey Bell at TheStreet that he still doesn't like Facebook at all and is worried about the insider lockups that expire on Aug. 15 and beyond.
Cramer said that a trading rally is always possible with a stock that's down as much as Facebook, but for the stock to create a meaningful bottom, it needs an analyst downgrade, not an upgrade like it saw today. He said that only with a downgrade will the earnings estimates get cut enough to where the company can start surprising, instead of disappointing, Wall Street.
Watch the full Cramer interview here.
-- Written by Scott Rutt in Washington, D.C.
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