Has Jim Cramer Found a Mighty Amazon Rival in Zulily?
There aren’t many companies that analysts believe can usurp the e-commerce behemoth that is Amazon.com (NASDAQ:AMZN), but CNBC’s Jim Cramer thinks he just found one. On Tuesday, Cramer called out the online retail store, Zulily (NASDAQ:ZU), on ”Squawk on the Street,” making the bold claim that the Seattle, Washington-based company can beat another similar, albeit bigger online retailer at its own game. Zulily is an online shopping portal that offers daily deals for moms and children, and the company has continued to post impressive sales, leading to significant shares surges.
Cramer said Tuesday, via CNBC, “This is the first company that has said ‘we can beat Amazon,’ and I believe them. I think they can beat Amazon. Why? Because they are a technology company in the woman’s apparel business. It’s a revolutionary company. I urge everyone to take a look at ZU.”
Zulily is a relatively new public company, only taking the official leap in November, but since then, its shares have shown a consistent ascent, especially this week after the company reported fourth-quarter profits that beat analysts’ expectations. Zulily released the earnings on Monday, leading to a shares surge in after-hours trading — and then, according to CNBC, when markets opened Tuesday, the stock took off and nearly reached a 40-percent increase during the first thirty minutes of trading. Shares sat up 4.36 percent at $60.99 as of 10:40 a.m. Wednesday.