Cramer is Bullish on Costco Wholesale Corporation (NASDAQ: COST)
November 13, 2009 10:38 AM
CNBC’s Mad Money Jim Cramer yesterday said that Costco Wholesale Corporation is on a tear. Costco jumped around 20% after Cramer said he liked COST. Costco announced a better than expected results in October and its same store sales increased by 5% for October beating Wall Street’s estimates of 4.8%.
Costco opened its first Manhattan location yesterday. Cramer also had a talk with Jim Sinegal, president and CEO of Costco where they discussed about Costco’s current and future plans.
Costco’s CEO said that the company always tries to offer the lowest price to its customers to increase sales and feels that there is a lot of room for growth and expansion of the company.
Costco Wholesale Corporation (NASDAQ: COST) is currently trading at $60.20, increased by 0.13% in the pre-market trading. The 52 week trading range for COST is $38.17 - 60.69. Yesterday Costco closed at $60.12. So far, this year it has gained over 14%.
