Classic Cramer: Flash Crash Buy Procter Gamble

Feb 4, 2011
J. Webster
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In the video below, Jim Cramer of Mad Money fame, makes this call on Procter & Gamble Company (NYSE)‎ PG during the flash crash of May 2010.

The flash happened on May 6, 2010, the market was down already close to 300 points due to the Greece debt crisis fears. But then the market just tanked, going doing close to 600 points in a few minutes. However, 20 minutes later the market regained the 600 or so points that it had lost. If anything, I think this shows you just how much the market is controlled by computer generated models, where they just sell when the market or a stock hits a certain point.

Procter & Gamble dropped nearly 37% before surging back up to its 61 price within in minutes, and precisely when Jim Cramer started to say buy PG.

“It can’t be there. That is not a real price. Just go buy it.”

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