Nathan also noted that shares of GM tend to be closely correlated to the yield on the 10-year U.S. Treasury bond. Rates below 3% have been bad for the stock but with yields over 3%, things will likely be very positive.
Cramer agreed with Nathan's analysis, saying sales are picking up for GM. Now that the U.S. government has sold its stake, there's a lot more gain to be had for the company. If shares are able to extend above $39 a share, then the stock could easier rise to its highs near $42.
Keep on Trucking
The bull market in heavy-duty trucks continues to motor on, Cramer told viewers. Thanks to new fuel efficiency standards from the Obama administration, these stocks should keep on trucking for years to come.
Lightning RoundIn the Lightning Round, Cramer was bullish on Exact Sciences (EXAS), AT&T (T) and Verizon (VZ). Cramer was bearish on Invesco Mortgage Capital (IVR), Synovus Financial (SNV) and Arcos Dorados (ARCO).
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts