What Cramer is watching Friday — Elon saves Tesla, Cathie saves Coinbase, Sam saves Robinhood

Published Fri, May 13 20229:09 AM EDT

What I am looking at May 13, 2022 Sam Bankman-Fried, the CEO of crypto exchange FTX, saves the Western world with a bailout of ailing RobinHood (HOOD). Piper Sandler analyst says he has no idea what Sam, who bought a 7.6% stake in the retail brokerage, is doing. HOOD shares soared more than 22% in the premarket. Elon Musk saves Tesla (TSLA) by icing Twitter (TWTR). Musk tweeted Friday that the Twitter deal is "temporarily" on hold until he receives more information about fake accounts on the social media platform. Shares fell more than 14% in premarket trading. Tesla time to revise: Global EV forecasts down on worries about costs for autos. Ark Invest's Cathie Wood keeps buying Coinbase (COIN) to take bankruptcy off the table. The benchmark S & P 500 index is now down nearly 20% from its record highs in January, and good things have happened in the past: Fed blinks, Treasury calms things, Europe works out a troubled asset relief program (like TARP created in the United States.) This is just a business cycle, but Fed Chair Jerome Powell saying 50-basis-point lifts are still all he needs after red hot CPI numbers this week. The consumer price index accelerated 8.3% in April, more than the 8.1% estimate and near the highest level in more than 40 years. We high-graded out of Boeing (BA) Thursday. We didn't care about the loss. One man in a two-man race should win occasionally, but these guys can't shoot straight. Is Ford (F) really hung up because it doesn't have enough money to fill orders? Or are there enough bankrupt electric vehicle companies out there — and lower prices for copper and aluminum — that things can work. Meta Platforms (FB): I'm going against the grain and saying it's going to work for Facebook. Management is upgrading and will get it right. Time to buy Meta. Wolfe Research takes KB Home (KBH) to sell from hold and says you can't fight a tight Fed. Could this be the beginning of the rollover? Mortgage rates at 5.6%. Affirm Holdings (AFRM) is the winner. The fintech's algorithms are better and it has a AAA tranche of debt that people want as opposed to Upstart (UPST). Shares shot up more than 33% in premarket after management raised full-year guidance Thursday. CEO Max Levchin is just better. Barclays lowers price target for Disney (DIS) to $130 from $168, says macro situation and high benchmarks may keep pushing "valuation floor lower." VF Corp (VFC) price to $55 from $65 at UBS, cites China business for apparel maker hit by lockdowns. Endeavor Group (EDR) — defensive growth media play. The sports and entertainment company reported first-quarter EPS of $1.16, compared to the Street consensus of 42 cents. Jefferies gives up on Carvana (CVNA), downgrades to hold from buy. Liquidity concerns. I say: Where have you been? Macro headwinds are too strong. AbbVie (ABBV)—says market share for rheumatoid arthritis drug Rinvoq could more than double to 7% in six months. Dermatologists like it over Dupixent, rival drug from Regeneron (REGN). Differentiated. This JAK inhibitor is fine. Safety is good … Krispy Kreme (DNUT) upgraded to buy at HSBC. Organic revenues at a 15%. Shares trading at 25.8 times earnings. (Jim Cramer's Charitable Trust is long ABBV, BA, DIS, F, FB. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Elon Musk has a history of expressing strong opinions about hydrogen and hydrogen fuel cells. A few years ago, when the subject came up during a discussion with reporters at the Automotive News World Congress, the electric vehicle magnate described hydrogen fuel cells as "extremely silly."

Jim Watson | AFP | Getty Images

What I am looking at May 13, 2022

Sam Bankman-Fried, the CEO of crypto exchange FTX, saves the Western world with a bailout of ailing RobinHood (HOOD). Piper Sandler analyst says he has no idea what Sam, who bought a 7.6% stake in the retail brokerage, is doing. HOOD shares soared more than 22% in the premarket.
Elon Musk saves Tesla (TSLA) by icing Twitter (TWTR). Musk tweeted Friday that the Twitter deal is "temporarily" on hold until he receives more information about fake accounts on the social media platform. Shares fell more than 14% in premarket trading.