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) - Get Report 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) - Get Report shares.
Cramer said Tanger should not be shorted. "I like Federal Realty (FRT) - Get Report and Simon Properties (SPG) - Get Report. 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) - Get Report 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 highshortinterest.com, 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."