CNBC Stock Guru Interviews Glen Tullman, Recommends MDRX
For the second time in less than three months, Allscripts CEO Glen Tullman appeared Friday night on CNBC’s prime time hit Mad Money. The last time Glen was on the television program, stock guru Jim Cramer, the show’s host, praised Allscripts for having the “best e-prescribing system in the world.”
This time, Cramer went further … recommending the stock as “a pure Barack Obama play” because Allscripts fits into the Democrat’s plans to cut healthcare costs through broader use of information technology.
Referring to last week’s sudden $5.23 drop in stock value following the payment of the special merger-related dividend, Cramer added that “(this) is not a crisis, the stock did not get killed. (Tullman) returned the money to you. He’s got a better company than he did the last time he was on. If you’re looking for a pure Barack Obama play, then Allscripts is for you.”
As CNBC noted in its online coverage of Glen’s appearance, “the newly combined companies have a ‘shared vision,’ and investors shouldn’t be worried about integration problems. So Allscripts, on top of the $70 million already invested in research and development and the one out of three doctors who use the company’s e-prescribing software, now has a better base to sell into and that should accelerate growth over time.”
To watch the video, copy and paste the following URL into your web browser’s address bar: http://www.cnbc.com/id/27240088)
NOTE: You’ll notice that Mad Money managed to misspell and misstate the company’s name a couple of times, got Glen’s spelling and title wrong and used the old Allscripts logo. Thankfully, those are minor quirks compared to the value of Cramer’s endorsement, which has been known to drive double-digit spikes in a stock’s value.