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Morning Bell With Jim Cramer: Buy Snowflake

Jim Cramer talks stock-market news, including Snowflake, oil stocks and Nvidia.

Stock futures were higher Friday as the S&P 500 looked to close out May with a fourth month of gains.

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

TheStreet's Katherine Ross and Cramer are talking about Snowflake, oil stocks and Nvidia.

Snowflake: Buy or Sell?

Snowflake  (SNOW)  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.

Exxon Mobil and Chevron

Cramer said oil companies are moving very quickly to get control of their methane carbon capture. "They want to be known as investible companies. Can they do it? I don't know," he said.

Nvidia: Buy or Sell?

Nvidia shares slipped Thursday after the chipmaker posted stronger-than-expected first-quarter earnings but noted a degree of uncertainty in predicting the impact of cryptocurrency mining on near-term sales.

Cramer said Nvidia is No. 1 in gaming chips -- and is soon to be No. 1 in auto chips. "It is the No. 1 in high-performance computing, it's No. 1 in inference, it's No. 1 in machine learning ... and those are the largest categories of any tech area," he added. "Nvidia had a remarkable quarter." 

Nvidia is a key holding 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.