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Morning Bell With Jim Cramer: Has Tesla Hit the Bottom?

Jim Cramer shares stock-market news including Tanger's short squeeze, the dip in Tesla and GameStop's makeover.

Dow futures are rising Friday as the U.S. economy added a much bigger-than-expected 379,000 new jobs in February.

In the last episode of Mad Money, Jim Cramer said there are different ways to spot a market bottom but he doesn't think we're there yet.

TheStreet's Katherine Ross and Cramer are talking about Tanger's short squeeze, the dip in Tesla and GameStop's makeover.

Tanger: Buy Or Sell?

Shares of Tanger Factory Outlet Centers  (SKT)  surged Thursday as the real estate investment trust that operates factory outlet centers garnered attention on Reddit messaging board r/WallStreetBets, the forum that came to light with the short squeeze in GameStop  (GME)  shares.

Cramer said Tanger should not be shorted. "I like Federal Realty  (FRT)  and Simon Properties  (SPG) . Those are better. Fed Realty is the largest shopping center company and it did not cut its dividend. You can go buy a lot of that and get a nice yield. Simon Properties is the largest mall company but the stock has gone up a lot so I want to be cautious there. But those are the stock you buy."

"They [Tanger] did better than we thought, they've gotten better with payments, but they are at 90% occupancy and you need to be higher. But you can't short it on that."

Tesla: Buy Or Sell?

Ron Baron of Baron Capital Management told CNBC that he sold 1.8 million shares of Tesla  (TSLA)  over the past six months. Baron, who is chairman, CEO and portfolio manager at the New York firm, sold the stock as it became too large a percentage of certain client portfolios.

Baron said he expected the stock to reach $2,000 in the next decade. He said he sold the shares to mitigate risk for clients, CNBC reported.

Cramer said he would buy Tesla at $643 a share, the level at which the tech stock has been trading recently. "I know Tesla is rolling over. Ron Baron was doing portfolio management. That's a concept lost on a lot of people because they are not portfolio managers. He could feel the pressure of having too much Tesla. I look at what he is doing and I think it's very smart. But people will not see it that way. He [Baron] is doing the right thing...The stock is down...It's time for Cathie Wood to put a bottom in Tesla."

GameStop: Buy Or Sell?

Cramer runs through some of the top stocks on,  a database of stocks that have a short interest of over 20%. Top stocks include GameStop, Tanger and Rocket.

Cramer said we need Ryan Cohen to use the 5000 [GameStop] stores to become the best place to buy GPU cards, like the ones Nvidia is coming out with, to crypto mine. "They should just turn into a crypto mining store. And then do a tie-in with Square, to buy a little bit and make it so that they are the place to learn about crypto."

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