Cramer Says No To This Stock, Suggests Tesla Instead Since 'They're Also In The Lithium Business'

On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Enbridge Inc. ENB is a “great stock.”

The “Mad Money” host said no to Standard Lithium Ltd. SLI, adding that it is a Canadian company not making any money. “We’ve got to stick with money-making companies. How about Tesla, Inc. TSLA? They’re also in the lithium business.”

When asked about Cleveland-Cliffs Inc. CLF, Cramer said, “If we’re going to do steels, I like Cleveland-Cliffs very cheap,” but he added that Nucor Corporation NUE has “got a much better record and is a cleaner steel producer. That’s what we want right now.”

With HighPeak Energy, Inc. HPK trading at $22, he recommended buying the stock.

When asked about Watsco, Inc. WSO, Cramer said, “I have not looked at Watsco recently enough. I did love it because my friend Matt Horween, writing partner, introduced it to me. Three percent yield, doing incredibly well. But we’re going to double down on the homework on Watsco.”

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Cramer said Nokia Oyj NOK is “just the definition of dead money, and I’m done with that. We’re going to try to make money with our money, not do nothing with our money.” He recommended reinvesting that money in “some of the things we like for the Investing Club.”

Cramer recommended selling Rocket Lab USA, Inc. RKLB as he only likes to invest in companies making money.

Photo: Courtesy of Scott Beale on Flickr

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