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Market Recap With Jim Cramer: Buy Tesla, Gap, Nvidia, Roblox and Wynn

TheStreet recaps the 10 best stories with Jim Cramer from the past week including Cramer's approach to cryptocurrency, updates on meme stocks, his view of Virgin Galactic and more.

In the most recent "Mad Money" program, TheStreet's Jim Cramer said Wall Street's first reactions are almost always wrong. Investors who rush to judgment lose out.

Over on Real Money, Cramer took a closer look at the real numbers behind those "at first-blush" impressions, and talked with the top executives at  (CRM) - Get Salesforce Inc. Report, Gap Inc.  (GPS) - Get Gap Inc. (The) Report, Williams-Sonoma,  (WSM) - Get Williams-Sonoma Inc. (DE) Report and HP Inc.  (HPQ) - Get HP Inc. Report. To get investing insights directly from Cramer's Real Money columns, take a look at this special offer.

Snowflake  (SNOW) - Get Snowflake Inc. Class A Report in its latest quarter again posted a doubling of revenue, but losses also widened faster than expected. Cramer tweeted Wednesday that, "SNOW--is growing faster, not slower, and is growing like mad in Asia and Europe."

Cramer said there was too much enthusiasm when Snowflake started and first-time investors paid too much for it.

"But [CEO] Frank Slootman is tremendous, and if you wait long enough that price will be realized. You should be buying it here; they are the fastest-growing publicly-traded company in America," he added.

Here are the top 10 Cramer videos this past week:

How Cramer Approaches Cryptocurrency

Elon Musk tweeted that he sat down with Bitcoin miners in North America and "they committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising." So, what does im Cramer think about Musk's tweet and the environmental impact of Bitcoin?

"I think it’s overrated as something that they care about, I think this is really a case where they care about money and speculation," Cramer said. 

"I’ve cared about it and mentioned that I think there should be carbon capture to try to do it, and the Chinese have coal plants where they’re spending a fortune to mine. But what I really care about is which is the one that’s the hottest, where do you store it, how much money do you get when you buy it for interest and the overall susceptibility for younger people to lose any interest in common stocks and really focus on which of the cryptos are hot today. The fact is that Coinbase  (COIN) - Get Coinbase Global Inc Report is up 7%, which tells you that maybe it got recommended, but that stock has been a real dog," he added.

Cramer's Meme Stock Update: AMC, Beyond Meat

Cramer breaks down where he sees an opportunity for both the stocks and companies currently capturing the attention of the Reddit investor.

Cramer thinks that AMC  (AMC) - Get AMC Entertainment Holdings Inc. Class A Report should have another offering. “I had said that they should do a $2 billion convertible bond. It’s important that the company cuts it debt down because it’s not feasible that the company could make it with that much debt,” he said.

Cramer tweeted earlier this week that Beyond Meat  (BYND) - Get Beyond Meat Inc. Report has such great prospects. “They are going to be moving pretty aggressively in China, they have a good partnership with McDonald’s  (MCD) - Get McDonald's Corporation Report, they managed to cut the price of the burger at the supermarket, and Whole Foods has told me that it’s the cleanest meatless meat. If investors catch it right, it will be 30 times the earnings and you will wish that you were covered,” he added.

Cramer Says Roblox Stock Will Blow Through $100

In the "Off The Charts" segment, Cramer checked in with Real Money contributor Bob Lang to see if the video game stocks can keep roaring now that the economy is reopening, wrote TheStreet's Scott Rutt in his Mad Money recap

Lang first looked at a daily chart of Roblox  (RBLX) - Get Roblox Corporation Class A Report, which reported blowout earnings. He noted the steady pattern of higher highs and higher lows, denoting a healthy uptrend. He was also positive on the stock's relative strength indicator, or RSI, which confirmed there's more room to run.

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“Roblox is blowing right through $100. This is just an iconic company after a very short period of time. It’s a safe place for kids to learn and have fun. It’s a buy until I tell you otherwise,” Cramer said. 

Gap: Buy or Sell?

Jim Cramer likes Gap  (GPS) - Get Gap Inc. (The) Report ahead of its earnings report later this week. In fact, he thinks that this is a stock that investors could buy today if they're looking to add a retail name to their portfolio.

“I think Gap is going to be strong. I think Kimberly is underestimating the strength of Gap. I think Gap is going to be very good and I look forward to what I regard as a continuation of a remarkable move. The stock is up gigantically at 64%. It’s not done. I think there’s more to it, and I’m not betting against Gap. Buy it right here,” Cramer said. 

Check out more of Cramer's insights and the investment ideas from our other Real Money contributors.

Why Cramer Is Closely Watching Wynn

Cramer is closely eyeing Wynn  (WYNN) - Get Wynn Resorts Limited Report for his Action Alerts PLUS portfolio. 

"For his second "Executive Decision" segment, Cramer spoke with Matt Maddox, CEO of Wynn Resorts, and Bill Foley, founder of Austerlitz Acquisition Corp I, to learn more about the company's plan to spin off their online sport betting business into a separate entity.

“I think it’s very highly valued, but it’s not getting any value in the marketplace. I think Wynn is a plain-out buy. And I think that’s not only because of the new SPAC that’s involving them but also because business is just so good. It’s got a lot of mojo,” Cramer said. 

Curious about what else Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live. 

Cramer: Buy Tesla Stock Before Memorial Day

Stocks traded higher in intraday trading on Wednesday as Federal Reserve officials maintained their belief that price increases from the recovering economy will be transitory and will ease toward the latter half of 2021. Fed officials have been playing down the risk of rising prices. 

So, why--with the Fed driving the larger market story--is Cramer focused on Tesla  (TSLA) - Get Tesla Inc. Report?

“I think that Tesla should be bought. Why? This is the day, and tomorrow, that you must buy Tesla because 11 out of 11 times Tesla stock has been up after Memorial Day. So you have to be in there right now!” Cramer said.

Why Cramer Compares Virgin Galactic to an NFT

Virgin Galactic  (SPCE) - Get Virgin Galactic Holdings, Inc. Report successfully completed its first space flight in more than two years, taking it a step closer to offering regular commercial trips into outer space. The mission not only provided revenue-generating scientific research experiments for NASA, but it also collected key data for the Federal Aviation Administration - something Virgin Galactic needs to gain a federal commercial reusable spacecraft operator’s license, TheStreet's M. Corey Goldman reported. 

“This is one of those stocks where it’s a pretty revenue stock and trades when it’s going to launch a rocket, which is so out of what people like. I find myself thinking: What’s wrong with this market is there’s still a considerable cohort that wants to buy something like this. It’s like a non-fungible token airplane as far as I’m concerned,” Cramer said. 

Cramer: Why Nvidia Is Down Despite 'On Fire' Business

Analysts were expecting Nvidia  (NVDA) - Get NVIDIA Corporation Report to report earnings of $3.29 per share on revenue of $5.4 billion. The company reported quarterly earnings of $3.66 per share on revenue of $5.66 billion.

“I think that Nvidia is the number one gaming chip, soon to be the number one auto chip, the number one high-performance computing chip, it’s number one in forensics, number one in machine learning, and those are all of the largest categories of any tech area. Nvidia had a remarkable quarter. What they did with Mercedes Benz is incredible, what they do with VMWare  (VMW) - Get VMware, Inc. Report is amazing, and they have a great relationship with pretty much everybody. They are the arms dealer for everybody,” Cramer said. 

“The stock is only down because it’s been up so much, but the business is on fire,” he added. 

Medtronic: Buy or Sell?

Cramer weighs in on Medtronic  (MDT) - Get Medtronic plc. Report. He explains why he's not saying that this stock is a buy here, but he does have a couple of other stocks that investors should look at instead.

“We own Abbot Laboratories  (ABT) - Get Abbott Laboratories Report, which is a great device company, I like Thermo Fisher Scientific  (TMO) - Get Thermo Fisher Scientific Inc Report better than Medtronic, I like Aluminum  (ACH) - Get Aluminum Corporation of China Limited American Depositary Shares Report better than Medtronic, I like Danaher  (DHR) - Get Danaher Corporation Report better than Medtronic, and I like Abbot better than all of those. Medtronic does not have the momentum and growth that I’d like to see, so no it’s not ready yet,” Cramer said. 

Cramer's Thoughts on Exxon, Oil

A key shareholder vote on board seats took place at Exxon  (XOM) - Get Exxon Mobil Corporation Report on Wednesday, which could mark the most significant change in decades for the country's biggest oil company as well as the future of CEO Darren Woods.

Exxon is facing pressure from Engine No. 1, an activist investor who is looking to oust four directors which, if successful, could change Exxon’s strategy. 

Exxon isn’t one of Cramer’s top oil picks but he thinks it’s amazing that the company’s making a lot of changes that are pro-ESG and that they aren’t able to fend off the activists. "And the fact that they have BlackRock  (BACPX) - Get BlackRock 20/80 Target Allocation Fund Investor A Report is very good,” he said. 

Wells Fargo and Microsoft are key holdings in Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Cramer buys or sells any stock? Learn more from Cramer and his membership team now.