Agriculture & Fertilizer Stocks
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Thursday, November 19, 2009
What’s Up With Bunge? The Cramer Bounce ?
$8.4 billlion (market cap) Bunge (BG) of White Plains, NY, one of the nation’s smaller agribusiness outfits, rose $3.73, or 6%, to $62.62, along with very heavy volume in its December call options, as Forbes notes this afternoon, including the December 65 calls, which have traded about 5,500 today, as of 1pm, according to Forbes. Is it the Cramer “bounce”? Jim Cramer went down a list of his favorite ag names on last night’s Mad Money, but he mentioned specifically Monsanto (MON) and Potash (POT), which are both up over 3%, which is nice but not the same as Bunge’s 6% rise. Is it acquisition speculation? Perhaps Archer Daniels (ADM) will buy Bunge? Or is it something esle…?
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