Alphabet Inc. (NASDAQ:GOOGL) was among the stocks Jim Cramer highlighted on Mad Money as he noted that the market has an appetite for stocks.
Cramer highlighted the company’s stock repurchases, as he said: Something may be going on with the underwriting process that we haven’t seen very often
We just had a phenomenally successful Alphabet secondary priced well by Goldman Sachs to the point that it looked like we had very few flippers and a lot more demand than we expected. It was an outstanding success, just a huge amount of demand… Alphabet bought back $45 billion worth of stock. In the first quarter of this year, it snapped up another 15 billion.
So it’s last year, 45, this year, 15. Now it is selling similar volumes. Can you believe that?