Morning Bell With Jim Cramer: Elon Musk and Antigen Tests

Jim Cramer shares insights about keeping an eye on DoorDash, Palantir's quarterly earnings, and Elon Musk’s thoughts on rapid antigen tests.

Dow futures surge as stocks extend gains, with Wall Street ready to test all-time highs this week, amid near-term vaccine hopes and stronger-than-expected economic data from Asia.

In the last episode of Mad Money, Jim Cramer told investors to look no further than the earnings if they want to know how the stock market can keep soaring while COVID cases continue to rise. There are a lot of companies making a lot of money, he said, and many of them will be on display next week.

TheStreet's Katherine Ross and Cramer are talking about keeping an eye on DoorDash, Palantir's quarterly earnings, and Elon Musk’s thoughts on rapid antigen tests.

DoorDash Stock: Buy or Sell?

On Friday, DoorDash Inc. said that it plans to list its common shares on the New York Stock Exchange as the SoftBank-backed group continues to lead rivals such as Uber Technologies and GrubHub in the surging food delivery market.

DoorDash said in an S-1 filing Securities and Exchange Commission that its Class A shares, which entitle investors to one vote each, will be listed on the board with the ticker symbol DASH. The placeholder amount for the listing was set at $100 million, but its last valuation was estimated at around $16 billion.

Cramer said that this is a stock to keep an eye on. Its DoorDash versus Uber  (UBER) - Get Report and the consolidation industry is “incredible,” he said.

Palantir Stock: Buy or Sell?

Palantir Technologies  (PLTR) - Get Report, the data-analytics-software provider, posted a wider-than-expected third-quarter loss but higher-than-expected revenue in its first report as a public company, which was issued after the close on Thursday.

The Denver-based company recorded a net loss of 94 cents a share vs. a loss of 24 cents in the year-earlier quarter, on revenues of $289.4 million, up from $190.5 million a year ago. Shares outstanding rose 56% to 905.5 million from 580.1 million.

Cramer said that he liked “nothing” about Palantir’s quarterly earnings, adding that “they should go make money after 17 years,” of operations since the company launched in 2003.

What To Learn From Elon Musk’s Testing Tweet

Elon Musk took to Twitter on Friday to discuss the test results from four rapid antigen tests that he took.

"Something extremely bogus is going on. Was tested for covid four times today. Two tests came back negative, two came back positive. Same machine, same test, same nurse. Rapid antigen test from BD," Elon Musk tweeted early Friday morning.

Cramer said that if you trust an antigen then “you’re being a fool and that Musk is willing, to tell the truth about this.” He added that a PCR test is “right” than an antigen test.

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