Cramer Gives His Opinion On Fitbit And Allergan

Jim Cramer said on CNBC's Mad Money that he was wrong on Fitbit Inc FIT, but he still likes it and wants to buy it. The stock is down 50 percent year to date, but people still think that it is expensive. He believes that the selling is overdone.

Related Link: SunTrust Thinks FitBit Q2 Sales Could Pick Up

Cramer explained that Allergan plc Ordinary Shares AGN is not trading higher because some people are speculating that the merger with Pfizer Inc. PFE won't get through. He added that there is also a lot of scrutiny because of the tax aversion issue and that the stock is stagnating because the biotech space is currently out of favor.