Dow futures are down over 100 points as bank earnings were announced Friday morning and Biden unveiled his stimulus plan Thursday evening.
In the last episode of Mad Money, Jim Cramer said there are lots of reasons for stocks to climb: Biden's stimulus plan, the Fed's stance, recovery stocks -- plus, short-sellers.
TheStreet's Katherine Ross and Cramer are talking about why Penn National stock has room to run, investors' unwillingness to embrace ESG stocks like Plug Power and the right way to pick EV stocks.
Penn National Gaming: Buy Or Sell?
Loop Capital Markets downgraded Penn National Gaming (PENN) - Get Penn National Gaming Inc. Report stock to sell in a report Thursday, citing “too many red flags.” The stock is up more than 20% this year after a nearly 300% gain over the past year. It was trading around $104 Thursday morning,
Cramer said he thought the stock would go down because of the downgrade to sell by the analyst at Loop Capital. "I would buy the stock because Michigan gambling is about to start next week. It's a $16 billion company which is very little versus the opportunity. I would buy some now and some later betting that maybe another company downgrades it. This downgrade was your chance to buy the stock, and so many people took it before I could get more people in it."
Plug Power: Buy Or Sell?
Plug Power (PLUG) - Get Plug Power Inc. Report stock slipped Thursday after J.P. Morgan analyst Paul Coster gave the fuel cell stock a price target of $60, a 14% discount, and said the stock was fully valued.
Coster said Plug Power is a "first- and fast-mover in the hydrogen fuel cell space with proven technology to pursue a massive market opportunity," and could grow sales to more than $1.2 billion by 2024. "This is our top pick in the hydrogen space, but [the stock is] fully-valued in our view."
Cramer said there is an unwillingness of Wall Street to embrace the concept of ESG [Environmental, Social and Governance] as a reason for people to buy because they are traditional in the way they analyze stocks. "It's great that they continue to do what they do but it's wrong that they don't mention that the reason why Plug Power is bid up is that it is pro-environment and that's what people buy."
Cramer discusses the right time for investors to pick electric vehicle stocks.
Cramer said you just have to look at companies that are commercial so you don't get caught if the winds suddenly change. "And right now Northern Genesis (NGA) is moving up and that's going to be Lion Electric. They are very commercial. And they have a lot of good customers including Amazon (AMZN) - Get Amazon.com Inc. Report. There is a strategic alliance between Lion and Pepsico and Pepsico has ll these delivery trucks and it will be terrific for them to switch to Lion Electric. And since Lion is already making things and has a lot of different models. That's what you buy."
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