Lightning Round: Ring the register on Opendoor, don't be in a meme stock, says Jim Cramer

Lightning Round Summary

Key Concepts:

• Speculative Stocks
• Meme Stocks
• High-Quality Stocks
• Buy, Hold, or Sell Recommendations
• Selling Half a Position
• Moving On From Bad Investments
• Insider Buying

1. Open Door (Speculative Stock):

• A caller from Texas, Jim, discusses a speculative stock he found.
• He observed the stock decline from $4 to $0.50 over six months.
• Rumors of a changing business model and CEO changes prompted him to invest at $1.71.
• Cramer advises to "ring the register" and avoid turning it into a meme stock. The advice is to take profits.

2. Terra Wolf (Low-Quality Stock):

• Tom from Florida asks about Terra Wolf's upside potential.
• Cramer dismisses Terra Wolf as "kaput" and low quality.
• He emphasizes focusing on "high quality, high quality" stocks.

3. Hubble (American Industrial Company):

• Angelo from Florida, a club member, inquires about Hubble, a stock Cramer presented over a year ago.
• He notes the new CFO and asks for a buy, hold, or sell recommendation.
• Cramer advises to "stay long" but not to buy more at the current high price ("rocket ship").
• He suggests waiting for a pullback before adding to the position.
• Hubble is described as a "fantastic American industrial company."

4. Lumentum Holdings:

• Steve from Illinois, a first-time caller, mentions holding Lumentum Holdings based on a past recommendation on Mad Money.
• The stock had been stagnant for years but recently "exploded to the upside."
• Cramer recommends selling half of the position on Monday morning.
• The remaining half can be played with "the house's money," leading to increased happiness.

5. Summit Therapeutics:

• Dean from California holds Summit Therapeutics, which has had "a little bit bad news" regarding its cancer screening drug.
• Cramer advises to "move on" from the stock, acknowledging that some investments "just don't come back."
• He notes some insider buying but doesn't express strong confidence in the stock's recovery.
• He acknowledges it might be hard to get out of the position.

Synthesis/Conclusion:

The Lightning Round features Cramer providing quick buy, sell, or hold recommendations on various stocks based on caller inquiries. He emphasizes taking profits on speculative stocks, avoiding low-quality stocks, and holding onto strong companies while waiting for pullbacks to add to positions. He also advises cutting losses on investments that have soured, even if there's insider buying. The segment highlights Cramer's focus on high-quality investments and disciplined portfolio management.