Jim Cramer Thinks That Jones Apparel (JNY) Owners Are Starting To Cash In
CNBC's Mad Money Jim Cramer believes that investors who bought Jones Apparel (NYSE: JNY) early will now start to cash in. Jones Apparel's (JNY) management said that its inventory is lean which means that they will have a good 4Q, but Jim Cramer thinks that maybe it won't matter because investors don't want to miss a chance to collect the gains.
Jones Apparel (JNY) was trading around $2.7 in March and then moved up to $18. The stock closed last four trading sessions in a row in the negative territory. Today JNY dropped 5.99% and closed at $16.33.
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