The Nasdaq is rising Tuesday as optimism about a recovery in the U.S. is increasing as vaccine distribution reports have been positive.
In the last episode of Mad Money, Jim Cramer celebrated 16 years on the show and told viewers that they should celebrate by spending their stimulus checks wisely.
TheStreet's Katherine Ross and Cramer are talking about Stripe's valuation, Penn National Gaming's addition to the S&P 500 next week and advice for young people investing in the stock market.
Penn National Gaming: Buy Or Sell?
Cramer said he's liked Penn National ever since its tie-up with Barstool because it would be a locus for gambling. "Dave Portnoy would be extremely excited about it. Penn National has been one amazing investment and it wouldn't have been if it weren't for Barstool."
"Penn has periods when it comes down, you'll see moments where it does get hit. And if you pounce in on one of those moments it will be fine. If you buy it when it's running, like right now, that is not a good idea," Cramer added.
Stripe, the online payments processing company, raised $600 million in its latest funding round, pushing its valuation to $95 billion and making it the most valuable U.S. startup.
Cramer said Stripe is one of these companies where a valuation is being set because everyone is excited about the payments sector. "The love affair with this group is extraordinary. Stripe has come up with a payments processing business that is very strong. Investors love payment processing provided it involves Square (SQ) - Get Square, Inc. Class A Report and Paypal."
Cramer's Advice for Young Investors
Cramer said he wants young investors to recognize that if they do their homework and observe things in their daily life they'll be able to make judgments to make it so that they make lots of money. "Invest for the long term. I don't like the short term."