Stocks declined Monday following the S&P 500’s fourth straight week of gains as investors turned their attention to a busy week of earnings reports.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Harley-Davidson, GameStop and why he is watching Tesla in the markets Monday.
Harley-Davidson: Buy Or Sell?
Motorcycle maker Harley Davidson posted a much stronger-than-expected first-quarter earnings Monday and lifted its full-year sales guidance.
Harley-Davidson said it expects revenue from its motorcycles segment to rise between 30% and 35% from 2020 levels.
Overall revenue rose 10% to $1.42 billion which topped analysts’ estimates of $1.25 billion.
Video: Jim Cramer’s Advice for Spotting a Healthcare Winner (TheStreet)
Cramer said Jochen Zeitz [President, CEO and Chairman of the Board] has cracked the code of how to get younger people in while Harley Davidson has traditionally been an older person’s game. “I think he is doing something very right. The stock could go much higher,” Cramer added.
GameStop: Buy Or Sell?
On Monday, Keith Gill – aka “Roaring Kitty” – who heavily promoted GameStop on Reddit’s WallStreetBets forum – said he was scooping up even more shares by exercising call options.
GameStop also announced that Chief Executive George Sherman will be stepping down effective July 31, or potentially sooner.
Cramer said Keith Gill aka “Roaring Kitty” is the opposite of him. “God love him. Maybe he makes a fortune. I think that’s somewhat reckless… He’s just out there,” he said.
Markets on Monday
Cramer said he is was watching Tesla in the markets on Monday. “Tesla in many ways has been the bellwether. Right now we’ve got Tesla under assault which means the EV play and the clean energy play that has been captivating people will seem too dangerous if the stock does not come back up,” he added.
None of the stocks mentioned in this article are key holdings 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.
This article was originally published by TheStreet.