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Tesla Motors: Hot Stock or Hot IPO?

One of the most-hyped initial public offerings in recent memory, Cramer said, is Tesla Motors to go public under symbol TSLA next week.

"I think Tesla will be a fabulous IPO," Cramer said. "But I want to make sure all you homegamers understand the difference between a red-hot initial public offering, and a red hot stock."

The company makes electric vehicles, which Cramer said is "all sizzle with very little steak." He said the deal is a good way to make a quick buck, but doesn't like getting in on it for the long-term. After the initial pop, he would sell. Watch the video for his full thoughts on this soon-to-be-public company.

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