Skip to main content

Jim Cramer on Boeing, Tesla, Roaring Kitty, Stock Market Monday

In Monday's stock market breakdown, Jim Cramer talks Boeing, GameStop, Lucid Motors, Tesla and more.

It's Monday.

And Jim Cramer is back!

While Cramer was taking some much needed rest following a recent surgery, his focus on the markets and helping you make money didn't go anywhere. 

Cramer said his Action Alerts PLUS portfolio has been doing some buying into early trading Monday. 

So let's cover some of the biggest headlines driving the market Monday. 

Jim Cramer talks Boeing, GameStop, Lucid Motors, Tesla, DoorDash  (DASH) - Get DoorDash Inc. Class A Report, Kohl's  (KSS) - Get Kohl's Corporation Report and more in the video below: 

First up: Boeing  (BA) - Get The Boeing Company Report

The Federal Aviation Administration issued an emergency airworthiness directive that is requiring "immediate or stepped-up inspections" of Boeing 777 airplanes that are equipped with Pratt & Whitney PW4000 engines following the engine failure of a 777 operated by United Airlines over the weekend.

"This will likely mean that some airplanes will be removed from service," said FAA Administrator Steve Dickson in a statement. "Based on the initial information, we concluded that the inspection interval should be stepped up for the hollow fan blades that are unique to this model of engine, used solely on Boeing 777 airplanes." 

United said that it's voluntarily halting the operations of 24 of its planes to allow the FAA to inspect the engines.

In a statement, Boeing said it "recommended suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 engines until the FAA identifies the appropriate inspection protocol."

Scroll to Continue

TheStreet Recommends

Cramer said the fact that a Boeing plane could safely land on one engine is a reason to buy Boeing stock at current levels

And then there's Tesla  (TSLA) - Get Tesla Inc. Report

The company has reportedly stopped taking orders for the cheapest version of its Model Y electric SUV, and--according to Electrek--removed it from its online configurator just a month into launching the vehicle.

Electrek noted that it was unclear whether the Model Y Standard Range was now canceled altogether or if Tesla was just pausing taking orders for the base version of the electric SUV.

Continuing his bullish thesis on Tesla, Cramer said that once the stock stabilizes after a selloff driven by the Model Y news, investors should seek opportunities to buy. 

Finally, let's cover Lucid Motors. 

Lucid Motors, which is an electric vehicle startup, is close to a deal to go public via a special purpose acquisition company started by investment banker Michael Klein, Bloomberg reported, citing people familiar with the matter.

The report said that two people familiar believe that the deal could be announced on Tuesday. But, since nothing has been finalized--the talks could fall through.

The SPAC, Klein's Churchill Capital Corp IV--his largest--would be used to take Lucid public. And the combined entity could be valued at as much as $25 billion per Bloomberg's reporting.

"I do believe it's [Lurid's story] is real, but the valuation may be too high," Cramer warned. 

Curious about what Jim 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.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.