Shares of internet website hosting platform GoDaddy (GDDY) - Get Free Report are down nearly 4% year to date, but the stock is still too rich for Jim Cramer.
AAPL
STZ
TSLA
AMZN
Cramer used the Lightning Round segment of "Mad Money" to tell his viewers that GoDaddy is too expensive after a viewer called in with a bearish outlook on the company.
DON'T MISS: Debt Ceiling Drama Is Political Theater, Not an Existential Crisis
"I'm not a fan. It is a very expensive stock that offers very little that is proprietary," Cramer said.
GoDaddy currently has a price to earnings ration of 35. The average P/E ratio for the tech sector is 29 in 2023, according to CSI Market.
GoDaddy isn't the only tech stock Cramer is down on, however.
Social media platform Snap (SNAP) - Get Free Report is down nearly 10% in 2023, and while the stock still has room to climb, the bullish trend isn't real, according to Cramer.
"Every stock that is being shorted is going up right now. So I figure Snap is going up 10% and then you've gotta sell," Cramer said.
He had the same advice for Plug Power (PLUG) - Get Free Report, another stock where Cramer sees a lot of short interest.
"I think Plug is a heavily shorted stock. It's about 18% short, therefore it should be able to go up another 20% before you have to get rid of it," Cramer said.
"I have to tell you, I have been sorely disappointed in that company. It is no longer a company that was 'in the future' now it's just a company that is doing badly. Bad companies have bad stocks, period."