Jim Cramer's Mad Dash: PLUG BIDU

NEW YORK (TheStreet) -- Plug Power (PLUG) is in the "very speculative" part of the stock market, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Mad Dash" segment Friday. 

The company issued a 22.6 million share secondary offering, which is weighing on the stock price. Cramer said investors could be in for a rough ride if shares begin to break below $5.50, the pricing of the secondary. 

Turning to Baidu (BIDU), Deutsche Bank upgraded the stock to buy from hold and raised its price target to $229 from $178. 

The company reported a "terrific" earnings report, Cramer said, adding that investors are rewarding Chinese stocks that still have strong growth. 

Alibaba, the Chinese e-commerce giant, is expected to go public sometime in late summer or early fall, according to David Faber, the CNBC show's co-host.

Cramer added the Alibaba IPO should "reignite" shares of Yahoo! (YHOO), which owns a 24% stake of Alibaba.  He concluded that he likes Yahoo!, even after the Alibaba IPO and because of CEO Marissa Mayer. 

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

More from Opinion

Why Google's Search Momentum Won't Be Badly Hurt by New EU Rules

Why Google's Search Momentum Won't Be Badly Hurt by New EU Rules

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Time to Talk Tesla: What Happened This Week, Elon?

Time to Talk Tesla: What Happened This Week, Elon?

Apple Needs to Figure Out Its Self-Driving Vehicle Strategy

Apple Needs to Figure Out Its Self-Driving Vehicle Strategy

Throwback Thursday: Tesla, Chip Stocks, TheStreet's Picks

Throwback Thursday: Tesla, Chip Stocks, TheStreet's Picks