Jim Cramer Gives His Opinion On Shake Shack Inc, Alder Biopharmaceuticals Inc And CIGNA Corporation

On CNBC's Mad Money, Jim Cramer said that Shake Shack Inc SHAK is overvalued. He added that the stock should have never traded as high as it did and it happened because of a short squeeze. Alder Biopharmaceuticals Inc ALDR rallied a lot and now it is reversing, said Cramer. He thinks that the best strategy would be to wait for the stock to trade back to $44.5, the price of its secondary offering, and then buy some. Cramer explained that CIGNA Corporation CI is trading lower because traders are concerned that it is going to trade like Humana Inc HUM, which didn't move higher after the takeover announcement. He would be cautious with CIGNA Corporation.