Jim Cramer below with an interview with OpenTable's (OPEN) CEO Jeff Jordan. In markets like this investing like Cramer is the best way to maximize profits: the first 30-45 seconds of spiel explain how balls to the walls investing works. Essentially don't worry about anything, just buy - and win. Not my style, but I definitely under perform in markets that only go up for essentially 6 months in a row.
It's time for you to stop worrying, Cramer said Thursday. Learn to love high-flying, turbo-charged growth stocks. Take OpenTable for example. The San Francisco-based company provides online restuarant reservations. Its stock is up roughly 350 percent since it went public in 2009 and up 28 percent since Cramer highlighted it on Dec. 23, 2010 at $69.85. Some investors, he said, may think they missed the move. On Tuesday, however, OpenTable reported postive earnings results and the stock continued to climb.
Cramer likes OpenTable's incredible growth, but also how it makes its money. It charges restaurants an installation fee and then a monthly subscription fee, as well as a fee for every person who books a reservation through their products. Last quarter, its system was installed in more than 23,000 restuarants in the U.S., which is a 62 percent increase from the year prior and a 31 percent increase from the previous quarter. Its reservation revenue, which is driven by the number of diners, increased by 52 percent. With more than 6,200 restaurants around the world, its international business is also doing well. OpenTable is only in 37 percent of restaurants, though, so Cramer thinks its story is just beginning. Being as only 9 percent of reservations are made online, Cramer thinks the number could increase to 70 percent for an additional $1 billion in revenue.