Dave Portnoy And Jim Cramer Talk Stock Market, Nordic American And More

Earlier this year, Penn National Gaming, Inc PENN shares surged on news it agreed to buy a 36% stake in Barstool Sports Inc. for $163 million.

On Tuesday afternoon, Barstool Sports founder Dave Portnoy held a Periscope chat with CNBC's Jim Cramer for some trader talk.

Dead Cat Bounce?

Portnoy asked Cramer if the stock market has reached a bottom or if Tuesday's rebound is a "dead cat bounce." Cramer responded with a simple "no." Portnoy further speculated that the market is making "everybody else" rich to which Cramer responded this is "probably true."

Stock Talk

Back on March 12, Portnoy said he will "day trade my way out of this thing." Since then, Portnoy tweeted he is up $10 on Shake Shack Inc SHAK.

On Tuesday, Portnoy said he bought Electronic Arts Inc. EA, although Cramer hopped in to say the company is "getting killed."

Instead, there are a handful of stocks that should experience a sharp rebound, or a "coiled spring," including Shopify Inc SHOP, Trade Desk Inc TTD,

NAT Gets A Pop

Shares of Nordic American Tanker Ltd NAT moved higher during the chat after Cramer advised Portnoy to buy shares. The stock is backed by an 18% yield and "massive" insider buying activity. Cramer said the company stands to benefit from an oil market that is selling for "close to nothing," but still requires tankers to be moved around.

Cramer also recommends not paying more than $3 per share. Cramer also highlighted Advanced Micro Devices, Inc. AMD and Zoom Video Communications Inc ZM as potential plays after recent sell-offs.

Related Links:

Penn National Gaming Shares Surge After Buying Stake In Barstool Sports

One Interview With Cramer, Everyone Knows The Rule: Portnoy, Penn National CEO Talk Sports Betting