Jim cramer says one of these red-hot stocks is a maybe, the other is a miss

CNBC's Jim Cramer on Thursday broke down why Alto Ingredients is a risky buy while Gladstone Land is a complete miss. "You have my blessing to swing at Alto Ingredients for

speculation, but Gladstone Land is coming in way too hot," the "Mad Money" host said. Alto Ingredients stock fell 0.15% on Thursday to $6.82, reaching a 52-week high of $7.27

earlier in the day. The company, which makes specialty alcohols and other ingredients derived from crops, has been able to rally recently by focusing on ethanol, Cramer said, adding that

ethanol is more competitive nowadays due to high oil prices. "While I'm wary of anything that's up more than 40% for the year, Alto's … a $500 million enterprise with

light analyst coverage," Cramer said. "This could be terrific material for speculation in the right environment," he added. However, he cautioned that this doesn't mean

he's recommending that investors start purchasing the stock in earnest. "In the end, it's pure speculation. If you believe oil prices can stay elevated, then I think Alto

Ingredients could be worth betting on, but I recommend buying it in gradual small increments and only with money you can afford to lose," he said. As for Gladstone, a farmland real

estate company, Cramer said its stock price is currently too high to be a buy. The company's stock dropped 2.72% on Thursday to $36.42. "Long-term, I believe it's an excellent

business, and I'd be a buyer at the right price. But I don't think the right price is this price," Cramer said.  "I can't countenance buying Gladstone up here.

Sometimes, you just have to admit that you've missed it," he added. _Sign up now__ for the CNBC Investing Club to follow Jim Cramer's every move in the market._ Disclaimer

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