Stocks are falling hard in the Nasdaq Tuesday as technology stocks continue to sell-off due to inflation concerns.
In the last episode of Mad Money, Jim Cramer said ‘Don’t miss the train to Boom Town.’ Cramer shares his best stock picks for a strong, post-COVID reopening. Cramer also discussed all the stocks callers asked him about in his ‘Lightning Round’ segment on Mad Money.
TheStreet’s Katherine Ross and Cramer are talking about when to buy the dip in Tesla, what Wall Street can learn from Roaring Kitty and the latest from Kohl’s.
Tesla: Buy Or Sell?
Shares of Tesla (TSLA) – Get Report closed down 8.55% on Monday, its biggest drop since Sept. 23, CNBC reported.
Cramer said Tesla is a company that, surprisingly, has a stock that gives investors opportunities. “This seems like another opportunity. People are waiting to buy the stock when it starts going down and trades at that level for a few days.”
The CEO of online trading app Robinhood took most of the heat from lawmakers last week as they grilled Vlad Tenev on his company’s role in the recent trading frenzy.
The GameStop hearing exposed vulnerabilities in Robinhood’s business model as the app was criticized for willfully placing trading limits on GameStop (GME) – Get Report shares.
Cramer said Robinhood CEO Vlad Tenev’s testimony at GameStop’s first congressional hearing has not impacted the trading app’s popularity. “They’re still opening a huge number of accounts. Nothing has changed. It was a bad thing that happened but Robinhood can get past it provided they do the compliance and restore trust,” he said.
Kohl’s: Buy Or Sell?
Activist investors at department-store chain Kohl’s (KSS) – Get Report, including Macellum Advisors and Ancora, are reportedly set to take over the board because they say Kohl’s isn’t moving fast enough to address stagnant sales and shrinking operating margins.
Cramer said Kohl’s has seen no growth because it executes poorly. “It’s an undermanaged company.”