Dow futures resume its surge ahead of election day as stocks rally. Markets appear to anticipate a clear win for former Vice President Joe Biden in today's long-awaited Presidential election.
In the last episode of Mad Money, Jim Cramer said that when it comes to stocks, there's growth, there's value and then there's no value. And with just hours to go until the election, all three categories were on display in Monday's trading session.
TheStreet's Katherine Ross and Cramer are on Street Lightning talking about buying Plug Power stock, Dunkin takeover agreement, and post-election stimulus.
Plug Power Stock: Buy or Sell?
Plug Power (PLUG) - Get Report said earlier this month that it is joining transportation executives to promote the launch of the McKinsey study “Road Map to a US Hydrogen Economy.” The study examines how hydrogen can impact the economy, including transportation, power generation, grid balancing, fuel for industry, feedstock and fuel for residential and commercial buildings.
Cramer said that Robinhood investors should “absolutely” consider buying Plug Power stock and think of it as a carbon-neutral stock. He said everyone should be watching green hydrogen.
Dunkin Stock: Buy or Sell?
Dunkin Brands Group (DNKN) - Get Report shares surged higher Monday after the coffee and donut chain agreed to an $11.3 billion takeover from private equity group Inspire Brands in the biggest restaurant deal since 2014.
Inspire Brands, which runs a portfolio of around 11,000 restaurants around the world, including Arby's, Sonic and Buffalo Wild Wings, said late Friday that it will pay $106.50 per share for Dunkin' Brands, which owns both the coffee and donut chain as well as Baskin Robbins ice cream stores.
Stimulus Will Come But Jobs Will disappear
A stimulus package deal has not been confirmed yet, despite negotiations in Washington last month when House Speaker Nancy Pelosi expressed some optimism that a relief package could be reached.
Cramer thinks that a stimulus deal will come through whether Joe Biden or Donald Trump wins the presidential election, and this will compensate the hospitality sector. However, jobs will disappear, according to Cramer who said that bars are the worst place to get COVID-19 followed by restaurants.
He thinks that a couple of restaurants that had great quarterly earnings such as Cheesecake factory (CAKE) - Get Report and Texas Roadhouse (TXRH) - Get Report can still do well but he said investors shouldn’t buy those stocks because if Biden wins then restaurants may have to reduce capacity again based on scientists’ remarks.
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