"The SEC is playing with fire," says Cramer on the floor of NYSE, referring to the proposed $5.1 billion merger plan of Rite Aid (RAD) with Cerberus Capital Management LP-backed Albertsons Cos., a grocery store chain, which they just pulled the plug on.
Rite Aid had scheduled a shareholders meeting to vote on the agreement Thursday, Aug. 9, which has been cancelled.
"I think they should have deal through," says Cramer.
Watch the video above for more of his thoughts on this now defunk merger.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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