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Morning Bell With Jim Cramer: Beyond Meat Could Be Next Meme Stock

Jim Cramer talks stock-market news, including Beyond Meat and this week's earnings to watch, including Nvidia, Williams-Sonoma and Salesforce.

Stock futures traded higher Tuesday as concern about rising inflation and its impact on the recovering U.S. economy eased.

TheStreet's Katherine Ross and Cramer are talking about Beyond Meat and this week's earnings to watch, including Nvidia, Williams-Sonoma and Salesforce.

Beyond Meat: Buy or Sell?

Shares of Beyond Meat  (BYND) - Get Report jumped Monday after analysts at Bernstein lifted their rating on the plant-based-food maker to outperform. The move preceded what the investment expects to be a significant increase in restaurant sales as states around the U.S. reopen.

Cramer suggested Beyond Meat could be the next meme stock. He said it should be adopted by the retail investors and the Reddit crowd who like GameStop  (GME) - Get Report  and AMC Entertainment  (AMC) - Get Report. “It’s got 20% short flow. A lot of people feel it’s very crowded," he said.

Cramer added that once the food-service component reopens, the stock "will go way up." 

"I continue to think this is the best of the faux burgers," he said.

Earnings to Watch

Shares of graphics-chip specialist Nvidia  (NVDA) - Get Report were higher early Tuesday. The company reports earnings on Wednesday. 

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Home-goods retailer Williams-Sonoma  (WSM) - Get Report will also report earnings on Wednesday.

Cramer said he would be watching Nvidia’s earnings. “Ever since they announced the 4-to-1 split, the stock has been on fire. That is not why I want people to buy a stock. But it’s within striking distance of its all-time high and it could get there,” he said

"I am also watching Williams-Sonoma because I believe that the retail cohort has legs. Notice that Target  (TGT) - Get Report keeps going higher. Target turned out to be the best one from the earnings season. Costco  (COST) - Get Report and Walmart  (WMT) - Get Report are holding in there,” he added.

Cramer also wished he had bought Target for the Action Alerts PLUS investing-club portfolio.

Salesforce: Buy or Sell?

Customer-relations-management-software superstar Salesforce  (CRM) - Get Report received plaudits from Wedbush analyst Daniel Ives ahead of its earnings report, set for Thursday.

Cramer said he was "exhausted" by Salesforce. "The quarter will be good and the stock will be slammed anyway. The Slack  (WORK) - Get Report deal has to close. That’s been the overhang. As long as there is an overhang from the Slack deal, Salesforce won’t go up,” he said.

Nvidia, Salesforce and Walmart are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer adds or removes stocks from his portfolio? Learn more now.