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Jim Cramer talked about seasonal trading opportunities Monday on CNBC's "Mad Money." Historically, there is an upcoming opportunity to trade around Memorial Day.
"If you buy these summertime stocks the trading day before Memorial Day weekend ... and then sell them one to 15 days later, you tend to make a bundle," Cramer said.
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Summertime stocks are stocks that usually experience a seasonal share price increase during the summer either as a result of people spending more time outdoors or from increased consumer spending.
Any stock that benefits from rising consumer spending could work, but Tesla Inc (NASDAQ:TSLA) offered the highest average percentage return of the stocks Cramer covered on Monday.
Car sales tend to pick up in the summer, he said. Historically in the case of Tesla, investors using this seasonal trading strategy have averaged 5%-8% gains, he said, adding that the strategy has worked each of the last 10 years.
Memorial Day, not "Saturday Night Live," looks to be a good entry for investors looking to buy stock in Tesla, Cramer said.
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Related Link: Dan Ives Talks 'Saturday Night Live' Impact On Tesla, Popular Cryptocurrencies
TSLA Earnings: On April 26, Tesla reported earnings of 93 cents per share, beating the estimate of 79 cents per share. The company reported revenue of $10.39 billion, which beat the estimate of $10.29 billion. Tesla announced first-quarter deliveries were up 109% year-over-year.
Price Action: Tesla is down 10.86% year-to-date and 27.15% over a three-month period.
See also: How to Invest in Tesla Stock
The stock closed Monday down 6.44% at $629.04.
Photo courtesy of Tesla.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.