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Morning Bell With Jim Cramer: Buy Salesforce

Jim Cramer talks stock-market news, including how to trade Salesforce, Home Depot and meme stocks.

Stock futures declined Wednesday as optimism about the U.S. recovery turned to worries about higher inflation.

In the most recent episode of "Mad Money" TheStreet Founder Jim Cramer said interest has shifted from stay-at-home stocks to travel and leisure.

TheStreet's Katherine Ross and Cramer are talking about how to trade Salesforce, Home Depot and meme stocks.

Salesforce: Buy or Sell?

Salesforce.com  (CRM) - Get Report shares were higher Wednesday after the sales-tracking software giant was upgraded at Morgan Stanley to overweight from neutral.

Cramer said Salesforce is the bellwether for cloud stocks. "It's trying to rally today [Tuesday]; it fails every day. They don't have the [Slack  (WORK) - Get Report] deal done. It's the cheapest stock in the group and I'd buy it. I gave it a soft recommendation last night," he added.

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Home Depot vs. Walmart

Home Depot  (HD) - Get Report on Tuesday posted stronger-than-expected first-quarter earnings amid what the world's biggest home-improvement retailer called "unprecedented" demand for domestic projects. 

Cramer said the stock is getting hammered. "It's down very nicely. I have to see what they're saying, But we're the superior one here because we own Walmart  (WMT) - Get Report. And people have decided that Walmart's quarter was really good and I agree with that," he added.

Meme Stocks

Cramer said AMC Entertainment  (AMC) - Get Report is "very good and retail traders moved it up far more than the fundamentals because the company is not doing well and it has a huge amount of debt. 

"But the ordinary investors don't care," he said. "Their idea is to move stocks up because you can move the stock up. The interesting thing is maybe they only have the firepower to do two stocks -- GameStop  (GME) - Get Report and AMC. Those are the ones they can really move." 

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.