While the major averages made today's trading look rather benign, Jim Cramer told his Mad Money viewers Friday that under the covers, it was a tumultuous session with wild cross-currents. Speculation was the theme of Cramer's game plan for next week's action, but only if you do it wisely.
Beginning on Monday, the markets will be reacting to any news of an economic stimulus package as well as the expected emergency approval of Pfizer's (PFE) - Get Pfizer Inc. Report and BioNTech's (BNTX) - Get BioNTech SE Report COVID vaccine. Both of these event will be in control of the stock market. Abbvie (ABBV) - Get AbbVie, Inc. Report will be holding an analyst meeting on Monday, which made Cramer bullish on the stock for the short-term.
Next, on Tuesday we will hear from animal health laggard Elanco (ELAN) - Get Elanco Animal Health, Inc. Report, a stock which Cramer said is a buy after Chewy (CHWY) - Get Chewy, Inc. Class A Report rallied 9% to new all-time highs today.
Wednesday will see earnings from home-builder Lennar (LEN) - Get Lennar Corporation Class A Report and furniture-maker Herman Miller (MLHR) - Get Herman Miller, Inc. Report. Cramer said he's bullish on housing, but with Federal Reserve chair Jay Powell speaking about the economy later in the day, things could get dicey. Herman Miller shares have run into earnings, making them risky as well.
Thursday brings a glut of earnings from companies like Accenture (ACN) - Get Accenture Plc Class A Report, General Mills (GIS) - Get General Mills, Inc. Report, Rite Aid (RAD) - Get Rite Aid Corporation Report, FedEx (FDX) - Get FedEx Corporation Report and electronic manufacturer Jabil (JBL) - Get Jabil Inc. Report. However, all eyes will be on the FDA panel reviewing the Moderna (MRNA) - Get Moderna, Inc. Report vaccine. Cramer said Accenture and General Mills remain strong and Jabil will pop off of strong sales of Apple's (AAPL) - Get Apple Inc. Report iPhone.
Rounding out the week will be Darden Restaurants (DRI) - Get Darden Restaurants, Inc. Report on Friday, along with Nike (NKE) - Get NIKE, Inc. Class B Report. Cramer said while Darden will likely disappoint this quarter, its outlook for the future is strong. He said Nike will be the best news of the week.
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Executive Decision: Trulieve
In his first "Executive Decision" segment, Cramer spoke with Kim Rivers, chairman and CEO of Trulieve (TCNNF) - Get Trulieve Cannabis Corp. Report, the medical cannabis provider with 73 stores in Florida, California, Connecticut and Pennsylvania.
Rivers said that it's always a celebration when Trulieve opens a new store and they're profitable right from the beginning. The company last reported 19% same-store sales growth and now has 52% marketshare in Florida.
Rivers added that cannabis continues to be on a strong growth trajectory. There were cannabis initiatives on the ballot in five states this election cycle and every one of them passed, she noted.
While Trulieve continually invests their profits back into their business, it's not all smooth sailing. Until cannabis is fully legalized, the company must endure a 50% tax rate and it does not have access to business loans and other financial services.
A Remodeling Play
Investors looking to play the boom in home building and remodeling should look at stock of Azek Company (AZEK) , Cramer told viewers. He said this composite deck maker has been overlooked by Wall Street and shares are poised to rally.
There's a lot to like at Azek, Cramer said. The company is in a growing market, taking market share, improving its gross margins and has a COVID tailwind and homeowners across the country consider the outdoor deck as one of the safest place for small gatherings.
When compared to traditional wood deck materials, there's simply no comparison. Composites last longer, have lower maintenance and look great. That's why Azek saw sales surge 22% in its last quarter and is adding additional capacity for the 2021 season.
Azek came public as a private equity backed IPO, which meant it was saddled with more than its fair share of debt. But Cramer said the company has been aggressively cleaning up its balance sheet and could be debt-free in as little as a year.
Composite decking also has a sustainability angle, Cramer noted, as the company recycles 400 million pounds of scrap plastic from landfills for use in its decking products.
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Executive Decision II: Inseego
For his second "Executive Decision" segment, Cramer also spoke with Dan Mondoor, chairman and CEO of Inseego (INSG) - Get Inseego Corp. Report, makers of mobile hotspots for remote working. Shares of Inseego are up 87% for the year, including 12.2% Friday after the company announced a partnership with T-Mobile (TMUS) - Get T-Mobile US, Inc. Report for its first 5G hotspot.
Mondoor said that Inseego is still in the early stages of the 5G revolution and they're seeing incredible demand for their products and services around the globe. He said that 5G will be a decade-long upgrade cycle and we're still in the very early innings.
In addition to the benefits for consumers, Mondoor was excited for the possibilities of enterprise use cases. He said Inseego sells a lot more than just hotspot hardware, they also have a full suite of software, including cybersecurity products, to help keep remote workers and applications safe. In addition to T-Mobile, Inssego also has partnerships with AT&T (T) - Get AT&T Inc. Report and Verizon (VZ) - Get Verizon Communications Inc. Report in the U.S.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer said he lived through the dot-com bubble once, and he doesn't want to do it again.
If there's one word to describe the dot-com euphoria, it's "mania," Cramer said. The dot-com crash wiped out an entire generation of investors and it could happen again if the IPO process isn't reformed.
Cramer explained that market makers aren't allowed to offer more shares when IPO demand spikes, sending prices into the stratosphere. But that's exactly what should happen to prevent sky-high prices that only hurt investors months later as lock-up periods expire and the needed shares are finally released.
Without these reforms, Cramer said, the euphoria will continue and new investors and shareholders risk getting hurt.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
In the Lightning Round, Cramer was bullish on Tortoise Energy Infrastructure TYG, HP (HPQ) - Get HP Inc. Report, United Continental (UAL) - Get United Airlines Holdings, Inc. Report, NVIDIA (NVDA) - Get NVIDIA Corporation Report, JD.com (JD) - Get JD.com Inc. Report, Alibaba (BABA) - Get Alibaba Group Holding Ltd. Reportand Bristol-Myers Squibb (BMY) - Get Bristol-Myers Squibb Company Report.
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At the time of publication, Cramer's Action Alerts PLUS had no position in the stocks mentioned.