NEW YORK (TheStreet) -- Plug Power (PLUG - Get Report) is in the "very speculative" part of the stock market, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Mad Dash" segment Friday.
The company issued a 22.6 million share secondary offering, which is weighing on the stock price. Cramer said investors could be in for a rough ride if shares begin to break below $5.50, the pricing of the secondary.
The company reported a "terrific" earnings report, Cramer said, adding that investors are rewarding Chinese stocks that still have strong growth.
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Alibaba, the Chinese e-commerce giant, is expected to go public sometime in late summer or early fall, according to David Faber, the CNBC show's co-host.
Cramer added the Alibaba IPO should "reignite" shares of Yahoo! (YHOO), which owns a 24% stake of Alibaba. He concluded that he likes Yahoo!, even after the Alibaba IPO and because of CEO Marissa Mayer.
-- Written by Bret Kenwell in Petoskey, Mich.