Investors should start a small position in amusement park operator Cedar Fair and buy more on a pullback, the 'Mad Money' host says.
"If you already own Cedar Fair, I'd stick with it," thehost said. "If you don't own it yet, hey, I recommend putting a small position on here, maybe waiting for a pullback ... and, who knows, maybe one day a takeover bid."
Six Flags' stock, however, is down nearly 15% since Cramer recommended Cedar Fair's equity in August. "Cedar Fair is a master limited partnership rather than an ordinary C-corp., which means they ... pay out the bulk of their earnings as dividends or distributions without getting hit with any corporate income tax. That's why it's so advantageous," he said. "If Six Flags really wants to buy Cedar Fair, they need to offer a much larger premium, and I don't think they can afford it.
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