Jim Cramer Says He Does Not Have a Good Case to Short Signet

Signet Jewelers Limited (NYSE:SIG) is one of the stocks Jim Cramer recently expressed his thoughts on. A caller asked whether they should cover their short position in the stock, which they initiated a few months ago based on what they believed was an overvaluation, but has since moved against them. Cramer replied:

“Okay, I typically don’t advise short sellers on this show. I’m, I favor the long side. I admit that because our viewers favor the long side, but Signet, you know, 10 times earnings with a terrific guy, Jim Symancyk, who is doing a terrific job. The numbers are good, so I think you need a better, I think you need a better case to stay short this one. I don’t have one.”

Signet Jewelers Limited (NYSE:SIG) is a diamond jewelry retailer operating brands such as Kay, Zales, Jared, Peoples, Rocksbox, Banter by Piercing Pagoda, Diamonds Direct, James Allen, and Blue Nile. In addition, it runs H.Samuel and Ernest Jones stores internationally and provides diamond sourcing and polishing services.

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Disclosure: None. This article is originally published at Insider Monkey.