Mad Money w/ Jim Cramer 6/30/25
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Hey, I'm Kramer. Welcome to Bad Money. Welcome to Kramerica. I'll be with my friends. I'm just trying to make a little money. My job is not just to entertain, but the education to teach you. So call me at 1-800-743-CBC. Tweet me at Jim Kramer. Well, there goes the second quarter, and it was a real barn burner. Dow up 5%. That's to be rallying 10.5%. But the crazy Nasdaq jumping 17.75%. And not much of that was actually from the Magnificent Seven.

Who the heck's doing this buying? Who is powering this market higher? It's not the hedge funds. They're waiting for the Fed to make a move. Not the institutions. They're worried about the tariffs. I think it's the young people.

People who are part of the great wealth transfer, $100 trillion from the baby boomers to the alpha materials, ZNX, and of course, the millennials. I think they are the ones moving many stocks much higher. They have the money now and they invest differently from the older folks. I say we have to salute this new generation of buyers.

even if they're off in way too exuberant in the purchase. Let me give you a metaphor. Take the stock of Robinhood. Boy, is that ever their stock, right? Skyrocketed more than $10 today to an all-time high. Why? Because it's using blockchain to allow its users to trade stocks in private companies. It moves strikes most of the seasoned players in this market as absurd, maybe even boring.

But this same development strikes younger and fresher-faced buyers as kind of a clever financial engineering that should be encouraged. They're not cynical about it. So what do they do? They go nuts buying the darn thing. No price is too high. Guess what? They'll be back tomorrow, too. This kind of behavior drives much of this market's recent action. It's a big reason why the Dow gained 276 points. That's advanced 0.52%. The Nasdaq climbed 0.48%, finishing off this excellent comeback of a quarter.

You know, Robinhood is not an anomaly. There's a whole host of stocks that are roaring on what can only be described as re-evaluation of growth or animal spirits. We see Reddit, the online message board, set up more than 5% and then a door dash up as usual 2%. Kava jumps 8% on nothing. We see Palantir, of course, the software company that brings costs down the moment you speak to them. It's back on a roll after Friday's rare decline, levitating 4%. When Palantir was at 50, I said it was going to 100. When it hit 100, I said it was going to 200, sticking by my prediction.

You know, I pass no judgment. Unlike most of the people around here, the older people I talk to, I pass no judgment about these people. You know why? Because they are buying very good companies. Only two stocks I'll talk about later. Stay tuned. These are top-notch businesses that might have gigantic earnings power someday. You want to get in front of DoorDash, which may turn out to be an advertising powerhouse? You believe that Reddit's stock is too expensive? Their ads represent incredible value. Believe me, I can't believe how cheap they are.

I think the stock's not getting enough credit. How do you know that Reddit's not the next meta, which hit an all-time high today? Mark Zuckerberg has opened the wallet, spending on new talent in an accelerated way. You want to doubt him? Come on. Amazon's done the same thing in its years of growth. We'll be speaking to CEO of Amazon, Andy Jassy, later in the show.

Long story short, these younger investors reward bold behavior. They punish companies like Apple, which seem to have an aversion to being bold and instead like to buy back stock. That's an anathema to these younger buyers. To them, buying back stock is what you do when you run out of ideas. You know what else they don't care about? The Federal Reserve. The

These bars aren't sitting there trying to guess the Fed's next move. They don't even know where the Fed is. They aren't paying attention to when a Philly Fed head says something cogent or a Cleveland Fed president snarls about tariffs. Now, here's the real question we all face, including those of us in the media. Are we right to wait with bated breath on every word from every Fed official? Is that the way to make us money? Is that the way I can help you? Or do the younger investors have a point?

Look, there was a time when you had to watch the Fed like a hawk. When the hedge funds still ruled the roost, this laser focus on our central bank made sense. But the hedge funds aren't in charge anymore. Instead, we have what I call an idea market. When an idea resonates, when it seems right, the older cohort buys the stock, too. No, it's not necessarily something exciting that just the younger investors embrace. But the younger investors are in there first.

Any plausible idea that has promise, you know, flying cars. I don't care. A nuclear. I'm no longer fighting it. Right now, for example, we're seeing billions of dollars worth of orders for data centers to be built by Oracle. We already knew that Oracle was doing well, but it just put out a press release today saying it's doing even better. So what happens? The stock goes from 118 to 218 in a couple of months time. Then it keeps going higher. What matters is that the fundamentals are terrific. And as long as they stay terrific, all the younger people would keep buying the stock.

Is this a confluence, though, of young meets old? Is there some sort of curious nexus where enthusiasm is on display everywhere? No, not really. See, I think it's simply a return to the old days, the early to mid-1990s, where if you had a company with something that captivated the crowd, like the flying car or a popular message board website, you can buy its stock and you can make a lot of money.

Should you be able to do that given that Harker retired from the Philly Fed today or Goolsbee's not certain about what's going to happen to the tariffs? In the 90s, we never even cared about this. We don't know who these people were. We only knew about companies. We knew that if a stock had a good story, you bought it until you ran into sellers and then you were done and you sold two or you held it till kingdom come because it was such a great idea.

In the old days, you could make great money with individual stocks. It was self-evident. We didn't think about single stock risk. What the hell that is. I'm some concept of the new guys. We cared about single stock rewards. We look for stocks that could make us fortunes. The forerunners to NVIDIA and Netflix and Amazon and Alpha. We made real money. And for the most part, we didn't care about the Fed because that didn't make us money. We cared about ideas.

Of course, that era ended 25 years ago. People have forgotten what it was like. They weren't around when individual stocks got crushed and the averages and the stories dominated. But we're back and it's big.

The bottom line, we're now in a story dominated market, even as the coverage is still all about the next quarter point from the Fed and what the hedge funds are doing about it. I say that's for the institutions trying to beat the indices by a percent or two. That's not worth it anymore. These days, they are about people trying to get rich with ideas. Who's right? Easy. Those who embrace stocks, not indices, the ones who find the best ideas and stick with them.

That's who makes the most money. And that, in the end, is still what matters. Let's go to Jim in Georgia. Jim. Hello, Jim. How are you doing? I'm doing well. How about you?

Very good. And I just want to real quickly bring up my daughter, which we talked about before. She just had an MRI like two weeks ago, and it was perfectly clean. We're so excited. Now we're talking. Now we're talking. It's amazing. Man, that reminds me of my friend John Gluck wrote a good book about cancer. I tell you, there are...

There are winning stories now. They were all losing stories at one point. Congratulations to you and to her. My fingers are crossed. Okay, let's keep going. What do we got? Thank you. Okay. One more quick thing. Why don't you give us some Mad Money Makes Big Money hats and T-shirts?

Let me work on that. I like swag. My daughter's a swag person. I'm going to have to check in with her. All right. Come on. Let's make some money together. All right. I'm looking at private equity. I saw that BlackRock may be introducing some ETFs with private equity. Yes. But really what I'm interested in is Apollo.

I think Apollo's real good. It's real well run. Mark Rowan is very, very smart. I also like KKR. I think KKR is absolutely terrific. And I like Blackstone. Those are three. I gave you three because you bring a lot to the table. I come right back and bring a lot to the table. How about your daughter, huh? Is that great news? That is just fabulous. All right. Right now, the Fed is on the back burner. We are in a stock picker's market that's being driven by ideas. And I'm going to help you find them.

On May 9th, from AI to the state of the consumer, there's a lot to discuss with Amazon. We found that, didn't we? Don't miss my exclusive two-part interview with CEO Andy Jassy. Then Celsius shares have been a roller coaster past year, but crawling back from its lows. How'd we get there? I'm tracking the action, sharing where I think it could be headed. It could be GameStop with earnings. And Circle has found a passionate investor based on Wall Street. I'm sharing why I think this one may be a little bit insane and maybe can't be justified. Hey, look, not everything...

Not everything's great. Some things are already played out. And I'm not the only one on the street thinking that. So stay with Kramer.

Don't miss a second of Mad Money. Follow at Jim Cramer on X. Have a question? Tweet Cramer. Hashtag Mad Mentions. Send Jim an email to madmoneyatcnbc.com or give us a call at 1-800-743-CNBC. Miss something? Head to madmoney.cnbc.com. Come

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After some hideous action earlier this year, Amazon.com has now rebounded 36% from its early April lows. People are remembering that this company still has a ton going for it. From the resurgence of Amazon Web Services to artificial intelligence improving efficiency, to the fact that the company reported an excellent set of numbers just two months ago. And that is just the tip of the iceberg. Earlier today, I got the chance to speak with Andy Jass. He's the president and CEO of Amazon right here at the New York Stock Exchange in a pretty wide-ranging discussion. Take a look.

Andy, you often talk about a why culture, why we do things. Why do we, you found out, offer books? Why do we do professional reviewers? We have individual reviewers. What are the big whys that you're looking at right now?

Oh my gosh. I mean, we're constantly looking at everything, every customer experience we have and asking why can't it be better? So despite the fact that we've made so much progress in getting items to customers so much more quickly in our retail business, we keep asking ourselves, why can't it be faster? You know, a couple of years ago, most people got items two to three days. Today, most of the items get there in a day or less.

We're working on drones, which we think can get it to customers inside of an hour. So, you know, we ask, why can't it be so much easier for customers to do AI in the AWS business? Every single business has a big number of why questions. Don't be too hard on yourself. I ordered a smart, fast charger yesterday at 2, and it came at 4. So you must be doing something, right? Pretty good. Two hours. How is that possible?

Well, I mean, we have these facilities. They're kind of innovations on our fulfillment network called same-day facilities. And they're a different style of fulfillment network with fewer floors.

and we stock a couple hundred thousand of the top moving SKUs in that facility. And then we hook up delivery direct from that facility. And so we're able to get most items to people in that same day facility within three to five hours, two hours is pretty good. - Now, will I see one day a robot at my door giving it to me so you can cut it down to an hour and 45 minutes?

Well, first of all, I don't think that you need a robot to be able to cut it down. I think with what we're doing with Prime Air, which is our drones project, which we've made so much progress on the last couple of years, I actually believe we'll be able to get items to people inside of an hour and maybe even as quickly as 30 minutes.

I do believe over time, you know, as we continue to expand the use of robotics in our fulfillment network, that we will have robots who will help do delivery and transportation for us. So Rural is going to use drone, perhaps robot, too. Talk about Rural because that's something you just announced. Those are people who don't have...

maybe even a brick and mortar within 10 miles. - Yeah, I mean, if you think about the basic prime experience for most customers in any kind of metropolitan area, they're getting most of their items now in a day or so. And then you look at the rural experience and because we don't have delivery stations and fulfillment centers the same way out in these rural areas,

they're getting items in several days so they don't get the full prime experience that people in metropolitan areas do. And at a time when most logistics providers are walking away from rural customers because it's more expensive to serve them out in those areas, we are increasing our investment. We just announced a $4 billion investment to build delivery stations and fulfillment centers out there so we can get items to people

in a day or two and they can have the prime experience everybody else has. Now when you do that though, do you think, well you know what, we're going to lose money on this but it's the right thing to do? Because sometimes I feel like Project Kuiper is lose money, right thing to do, or are you going to make money in rural?

Well, I would say two things. Both what we do with Rural and what we do with Project Kuiper, I believe, are significant upfront investments. Right. But they're both going to be great for customers and they'll be good for the business down the road. So on the rural side, what we find is, you know, the faster we're able to get items to customers, the better customer experience they have, the more they'll sign up for Prime.

And when customers sign up for Prime, it turns out they end up doing a lot of their shopping with Amazon. So you make that big upfront investment to serve rural customers better, and it comes back over a longer period of time. Kuiper, which is our low Earth orbit satellite that we're building, remember there's 400 to 500 million households around the world who don't have broadband connectivity. So they don't get to do business online or entertainment or shopping or education.

And so we're building this network so they actually have that connectivity, and it's going to completely change what's possible for them. Again, it's a really significant upfront capital investment, but it has a lot of the same types of financial characteristics as AWS has, which is its high capital intensity, but it has really good return on invested capital. We believe that's going to be great for customers and great for Amazon. Why do we keep reading that you're behind on it?

On Kuiper? Yeah. Well, you know, if you look at the technology, there's really only two companies that really are going to have this modern technology that we have with low Earth orbit satellite. One is Starlink, who's been in the market for several years. The other is going to be Kuiper. We just got our first—we're in the process now of launching all of our satellites into space. We just launched our second set of them. We've got 54 satellites up there on our way to actually having enough, hopefully by the end of the year, to have a commercial service.

and a lot more in 26 and 27. So, a lot of people say, "Why do you want to do this business?" And apart from the attractive financial characteristics I mentioned, I think the thing to think about with our technology in this space is, in part because we're coming later and the innovation that we have gone through, it's going to be better performance on the up and down link. It's going to be meaningfully more flexible on the antenna side for people.

It's going to have lower prices. And then if you think about the three customer segments that Kuiper serves, it's consumers, it's enterprises, and it's governments. And if you think about it, Amazon has very strong and broad relationships to all three of those customer sets. And we actually think they're going to be pretty excited. If you take government and enterprise,

A lot of them want to take the data from the satellite and move it directly into the cloud. And the tight connection between Kuiper and AWS is going to make that very compelling as well. But this makes me think that Amazon is a bit of a nation state. You are. Well, let's think about this. You're dealing with governments. You're dealing with people. You're in their states. You're trying to help them. I mean, in many ways, you're either an ambassador or a company that is basically saying, you know what, look, we can make your country better.

I think that the way that we think about our mission at Amazon is that we exist to make customers' lives easier and better every day. Everywhere. And a lot of people say, "What does retail have to do with AWS, with advertising, with Prime Video, with Kuiper, with Zoox?" The unifying theme and fabric through all those businesses and customer experiences is to make customers' lives easier and better every day. And that's true for customers in all those segments. It's true in all those businesses.

is true in every geography. I was just in Europe last week and a little bit of the week before, and

You know, in the UK, we employ 75,000 people full time. I mean, that's one of the, we are one of the biggest employers in the country. And so in each of these countries, we view ourselves as trying to make customers' lives easier and better for all those customers and part of being the fabric of each of those countries. Now, how is AI helping that? I know you have a lot of AI momentum. I know that AI is integral to, you wrote an incredible letter, uh,

just a week ago, basically, two weeks ago, just talking about how people's jobs are going to change, and that this is a great thing for customers. You always say that. You never say for Amazon. You say great thing for customers. How is it great? You know, I think that AI and generative AI specifically is the most transformative technology of our lifetime, which is saying a lot, given that we've had the internet, we've had mobile, we've had the cloud, but I think it's going to end up being the most transformative technology of our lifetime.

And if your mission is to make customers' lives easier and better every day, and if you believe that it's going to be the most transformative technology of our lifetime, you're going to invest very expansively, which is what we're doing. And you can see it everywhere. In our consumer businesses,

You can look at our shopping assistant in Rufus. You can look at the next generation of our personal assistant in Alexa Plus. You can look at how it's changing how we forecast in our fulfillment network, very significant gains for us. You can look at how it impacts how you can create advertising, even on Thursday Night Football. And you can see what we're doing in the AWS side, whether it's custom silicon to provide better price performance or services to make it easy to build models

or create gender of AI applications or coding applications.

Every single one of our businesses, we're using AI to improve the customer experience. Let's talk about Alexa Plus because when I was on Alexa Plus, look, I've complained vocally about Alexa, and I feel bad about that because I have a conversation, a couple conversations a day. Like I try to get her to play Beethoven's first piano concerto, and she'll play the fourth because she doesn't understand the album, whatever. Now Alexa Plus is something I would say, you know what, what am I doing at 12th?

Oh, my God, I have two different appointments at 12. Cancel one. Would you please book me a plane? I mean, are these what I think will happen with Alexa Plus? Yeah, I think...

You know, Alexa Plus, which is the next generation of Alexa and our personal assistant, is much more intelligent than the prior generation of Alexa. Can Alexa Plus reason with me instead of argue with me? Yeah, it can. I mean, actually, Alexa Plus helped me pick some horses for the Kentucky Derby. Really? Yeah. And I asked a lot of questions about wanting somebody that was not a complete long shot but who had a chance. And she suggested somebody, and I asked her why, and then we had a debate about that.

And based on what I said, she changed her opinion. So you know, with Alexa Plus, much more intelligent, much more capable, and as opposed to most of these chatbots that just answer questions, she takes action. So she can manage your schedule, as you just mentioned. She can play music. She can move music from one device to another device. I can say to her, I have a couple coming over for dinner,

please turn the porch light on, the driveway light on, raise the curtains, increase the temperature five degrees and play music that we're going to want to hear at dinner. That is all done through natural language. And she's just going to keep being able to do more and more for you. Let's stay there for a second. More with Andy Jassy after this.

Coming up, don't go anywhere. Kramer continues his sit-down with Amazon's CEO and covers AI and chips, maintaining pricing amid trade tension, powering its data center demand, and more. Next. Next.

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I'm loving Alexa Plus, and I think that Alexa Plus could end up being in a humanoid form. When can I buy a robot from Amazon? Well, we've had a consumer robot that we've been offering for a bit, which we started a couple years ago, but it's still so primitive compared to where it's going to be. I do believe...

that I think that many, perhaps most consumers will have robots in the home sometime in the next 10 years or so. - You do? - I do, and I do believe that, and I think that all- - 10 years, how about three years?

There'll be more. I don't know if it'll be most in three years. Will they be yours or am I going to have to get one from Tesla? I think we're going to keep working on consumer robots. I think you'll see that really great personal assistants like Alexa will be inside these robots and she'll be able to help you quite a bit inside your home. All right. Now, July 8th, I intend to engage with Rufus a lot.

for three days I'll engage with Rufus. Sometimes Rufus is helpful and sometimes Rufus should link me to what I want to buy. But Rufus is kind of a dead end at times. When can we have Rufus really know us and know what we like?

Well, I think July 8th, you're referencing Prime Day, which actually is four days, 96 hours, double the amount we had last year, with millions of deals across every category. I think people are going to be pretty excited, especially at this time where people are still a little worried about

what's going to happen with trade and continuing to have lower prices. People like Royder's piece today that said that already you've had to raise prices from China. Fortunately, we haven't. We did a lot of forward buying several months ago. And then a lot of our sellers, our third-party selling partners, forward deployed a lot of inventory to avoid some of the issues with the uncertainty around where tariffs are going to settle. And we have so far not seen prices appreciably go up. I think some of that may be

Some of it may be the forward buying and deployment I mentioned, but some of it is we have about 2 million sellers in our marketplace. And so even those that decide they're going to pass on whatever the tariff increase is in the form of price, there's probably going to be a number of sellers who decide they're going to take share and not increase price. So that diversity helps customers in our marketplace. Also, I mean, look, you guys are known, I would think you and an athlete across the street from you at Costco are the two greatest inflation fighters other than, say, Walmart. But

I don't think the government, nor do I think even the American people understand. You have rolled your prices, many cases on that on prime days, are going to be like 2018 prices when I look at it. Very significant discounts. And not...

You know, our stores team, our retail team worked very closely with our third party selling partners because we know people are very sensitive about price right now, but we also want to make sure we gave them great deals and items they actually cared about. So I think our customers are going to be very excited July through the 11th and it's going to be a good prime day. Now, you have a note in your in your April letter. AI does not have to be as expensive as it is today.

and won't be in the future, chips are the biggest culprit. Okay, when I read that, I know you're talking about NVIDIA. I know you're developing your own chips. But at the same time, can I make the case that NVIDIA actually saves money, that actually does good things for you? Well, you know, my comment on that letter isn't about any one company. It's just about if you actually want AI to be as expansive as we all believe it can be and should be, we have to decrease the cost, particularly of inference.

And the biggest culprit in the cost today happens to be how expensive the chips have been. So we have a very deep partnership with Nvidia. We're their lead partner in every new family of chips they launch. I expect we'll be partners for a long time. But we learned this lesson in the CPU space with our partnership with Intel.

our customers always want better price performance. And so we've learned that we are usually going to have to be the ones that provide that better price performance. And so we have this amazing chip design team in Israel called Annapurna. They helped us build a CPU chip that we call Graviton that we're on the fourth version of that's 40% more price performant than the leading x86 processors.

And four or five years ago, we saw the same trend happening with silicon and AI, where we set that team, a separate team in that organization to go build their own custom silicon AI called Tranium, which we just launched a second version, which is also 30 to 40% more price performance than GPUs. And so we consider it not just an opportunity, but really our responsibility to help

customers have lower costs and better price performance not just on training but particularly in inference because the dirty little secret is that while a lot of this expense right now is in training because everyone's trading these models at scale most the expense is an inference because you only train periodically and an application of scale is spitting out inferences all the time okay now

June 17 note, fewer employers not necessarily needed as we roll out generative AI and agents as you change the way our work is done. We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs. Can you be more specific and also keep in mind, would it be better to go to a community college or better go to a four year college right now in this world?

Well, that last question I have to think about a little bit. But I think that as we're talking about this technology, this AI technology is going to be the most transformative technology in our lifetime. And I was talking about all the ways that we're using the technology for different customer experiences externally, but it's also going to change the way we work.

And if you think about what these agents are going to be able to do, they do coding, they do research, they do analytics, they'll do spreadsheets over time. They're going to do anomaly detection. They're going to do localization as you have information and content you want in a lot of languages.

that means it's going to change a lot of these particular job functions. And so when you have really unusual transformative technology like that, you have two choices, two macro choices. You can either lean into it, embrace it, and figure out how to make your customer experience better and shape it,

or you can wish it away and then have it happen to you and chase it. And I think that in the history of technology changes, you're better off with the former. And that's what we're going to do. And I think for our teammates, it's going to allow them to invent

better customer experiences much more quickly, much more expansively. They won't have to do as much work. And every single person gets to start every task at a more advanced starting spot. And so that's going to make all of our jobs more interesting. And so, yes, like with every technical transformation, there will be fewer people doing some of the jobs that the technology actually starts to automate.

There are going to be other jobs. We're going to hire more people in AI and more people in robotics. And there are going to be other jobs that the technology wants you to go hire that we'll hire over time, too. Okay, so you need more power for the data centers. $20 billion in Pennsylvania. Is that, Ryan Olsowski, is that right next to Carnegie Mellon? Where are you putting that up? Well... Is that the Susquehanna? It's billions. But it's, you know, we...

We have more demand in our AI business today than we have supply, even though we are taking down a lot of power and spending a lot of capital expenditure on our AI. And so the biggest constraint of a few constraints really is power. And so wherever we can find high quality, affordable power that ideally, you know, that wherever we can, it's low carbon.

That's where we're going to look to build additional data center clusters. Pennsylvania is a recent one. We're really excited about that. Indiana, you've done. Indiana, we've done. Mississippi, we've done. In all those cases, it's a combination of where the power is, the quality and power, and then do we have a partner, particularly in those states, who really want the jobs and really want the data centers there. Do you have, are there enough people in this country to meet the demand of Amazon in 2030?

I do think yes. I mean, yeah, I do. And I mean, we have we're very fortunate in that people are interested in working at the company because we, you know, we're a very customer focused company. We have a pretty significant impact in the world. We operate a very large scale. We like to invent and we have an amazing group of people. And that's true. You know,

You know, in a lot of our what you call corporate jobs, but it's also true in our fulfillment network where our average starting wage is over $21 an hour, full health benefits on day one. We have this program called Career Choice, which allows anybody in our fulfillment network to be able to get an advanced education or a college education if they haven't. So it's an unusual set of capabilities. So we have a lot of people who are interested.

And then I think over time, what you'll also see is wherever we can, we use robotics in our Fulfillment Network to make things even more safe for our teammates. And what we've found, which has been so interesting in our Fulfillment Network is that our teammates, they're actually like working with the robots. They work in tandem together.

And so they get to work on things that human beings are better suited to do, and the robots get to work on things that maybe are repetitive and can save people from injury. One last question. Black Friday last year was a pretty boring gig.

I hate to say it. I don't know if boring is good. Actually, it was a good game, right? It was Las Vegas and Kansas City. In the end, I didn't like it. You're thinking two years ago that Jets-Dollars game. That was the worst ever. How about this year? You know who's playing. Well, your Eagles are playing the Bears. And the Bears, I think, are 12-5 team this year. I think it's a good matchup. The Bears are going to be better. They're going to be good. I think it's going to be a very good game. You care about that. You care who's playing that day. You know I'm a Giants fan. I know. Do you think you'll flex those 14 and 16 games?

I don't know. Move my game to Thursday on that Washington game? It's so hard to know at the beginning of the NFL season because of the parity who are going to be the good teams and who aren't. So we'll have to wait and see. Anyway, I won't hold it to you. You've got 21 days ahead. You've got to do it, though. I love talking to you, man. I love talking with you. It's Andy Jassy, president and CEO of Amazon. Thanks, buddy. Appreciate it. Thank you. Coming up, no matter if you measure in Fahrenheit or Celsius, Kramer's eyeing a beverage name whose comeback is bringing the heat. Next.

Some stories can do it 180 in the blink of an eye. And if you're not doing your homework as an investor, it's very easy to end up on the wrong side of the trade. Take Celsius Holdings, the energy drink company. After many years of terrific outperformance, this stock peaked at just under $100 in March of last year. And then it came plummeting back to earth as its sales growth started slowing, finally bottoming at $21 and change earlier this year. Since then, though, it's come roaring back. And as of today, it's up $1.

to $46. The first cracks in the arm appeared last year when PepsiCo, a key distribution partner and part owner, began ordering fewer shipments as they worked through their existing energy drink inventory. The PepsiCo deal had been a huge source of upside for Celsius, so when PEP steadily pulled back over the course of last year, the stock repeatedly got hammered.

Keep in mind the stock caught fire on the way up, in large part because PepsiCo invested $550 million in Celsius back in August of 2022. Good enough for a roughly 8.5% stake. It's part of a long-term distribution agreement. This was all the way back when the stock traded below $30, and the announcement is enough to send the stock up 11% in a single day. Investors were banking on this relationship, expanding distribution points for Celsius with the added possibility of maybe a full takeover.

And that's what made these inventory adjustments from PepsiCo such a huge negative for the stock. At the same time, the entire energy drink category as a whole started to cool. Plus, Celsius had always dominated the sugar-free energy drink space. But some heavy hitters like Red Bull started competing more aggressively for that sugar-free market share. Eventually, the stock bottomed at $21 and changed this February, down nearly 80% from its highs.

But since then, Celsius has indeed caught fire again. And if you were gutsy enough to pull the trigger down at the February lows, well, guess what? You're up 120 percent. So how did Celsius get its mojo back? And more importantly, can it keep that mojo going? First, when the company reported in February, it delivered some excellent numbers. And more importantly, it agreed to buy an alpha called Alani New. That's a fast-growing energy drink competitor for $1.8 billion in cash to stock.

Now, this is a better for you lifestyle brand that was already making a name for itself as the fourth largest energy chain by market share in the United States. Wildly impressive for a company that was only founded a couple of years ago. Now, Alani New put up 600 million in revenues last year, up from 272 million two years before. As a result, the combined entities expect to have annual revenues north of 2 billion after the deal closes.

Madgen believes this deal will be additive to earnings in the first year and sees an opportunity to rack up $50 million in synergies in the first two years. Madgen also noted that together, Celsius and Alani New accounted for about 50%, 5-0, of total growth in the energy drink category last year. And because Celsius has a much larger distribution network than Alani New, integrating the two brands should generate some explosive growth.

While the Alani new acquisition provided some much needed optimism for shareholders, it was widely expected that the next quarter would be a challenge because Celsius had very difficult comparisons. So when the company reported in May, nobody was surprised that they posted a top and bottom line miss. Nobody really cared either, though.

Instead, investors focused on more positive developments, like the fact that the newly acquired Alani New business is continuing to build momentum. Retail sales for Alani New surged 88 percent year over year, pushing the brand's U.S. market share to 5.3 percent, up 221 basis points from the previous year. That's incredible.

Management also highlighted several positives for the remainder of the year. For example, Celsius is now beginning to lap the challenges that dragged its stock down in 2024, setting up for easier comparisons down the road. The stock fell apart in the spring of last year, in part because it was up against tough comparisons. Now the comparisons are about to get much, much easier. With a stock like this, that matters big time.

Management also expressed confidence about future shelf space gains, driven by a slate of new products, including new flavors like Playa Vibe, Retro Vibe, Mango Lemonade. Celsius is also expanding to 1,800 Home Depot locations, rolling out into 18,000 subway locations nationwide. That's a lot of points of distribution.

Plus, it doesn't hurt that when Celsius reported in early May, even though their sales earnings came in late, their gross margins hit a record 52.3%. I think that signaled an easier competition. While the company's North American sales were more muted because of some timing issues, international sales continued an impressive growth, up over 40% last quarter, handily beating expectations. Now, international is currently just a small percentage of total revenue, but

Energy drinks are huge overseas, which tells me that Celsius still has a ton of room to grow outside of North America. How about those adverse effects from that PepsiCo inventory adjustment that crushed its stock last year? In the last quarter, those came in better than feared. Another win for PepsiCo.

Since that earnings report in May, analysts have been turning more positive on Celsius. In part, that's because the quarter was encouraging. But it's also the case that in nearly two months since then, scanner data has been incrementally positive for Celsius and Alani New. These scanner trends have improved to flat levels from the high single-digit declines that the company's experiencing back in February. And given that Celsius faces easier comparisons as the year progresses, the analysts are confident that things will continue to improve. 500!

With Celsius, okay, Celsius expense.

Trades at 57 times this year's earnings. But historically, believe it or not, that's a lot cheaper than it used to be. Over the past three years, the average forward price to earnings multiple for this stock has been closer to 89 times earnings. Let me give you the bottom line here. While Celsius may be a momentum name, the comparisons are about to get much easier. The standard trends have already improved. And I think a lot of new acquisition, it could be a huge positive. So I wouldn't be surprised if the stock could keep running. Although if you don't own it yet, you might want to wait for a pullback.

before you pull the trigger. Mad Money's back after the break. Coming up, Kramer takes your calls and the sky's the limit. It's a fast-fire lightning round. Next. It is time. It's time for the lightning round. And then the lightning round is over. Are you ready? It's time for the lightning round. It's time with Alan in Florida. Alan.

Jimmy Chill, thank you for the best investment on Wall Street. That's your Investors Club. Oh, thank you. Yeah, I wish I had Jeff this morning. I'm not that good at it, but oh my, I think we're working pretty darn hard. Jimmy?

How can I help you? Jimmy, I need you to listen carefully. This is a very important question. Very important. All the big boys are going nuclear. Meta, Google, Amazon, Constellation, the state of New York, the World Bank, Plant Care. Trump's executive orders say speed up domestic nuclear supply chain now. But Jimmy, Jimmy, here is the question. Where, Jimmy? Where, Jimmy? Where, where, where will the uranium come from? Where is the uranium?

Well, I'll tell you where it's going to come from. It's going to come from a uranium company. Do we know what stock you're asking about? Well, any uranium companies, any one of them is going to work. OK, I'm blessing them all. I believe in nuke. Buy anything uranium. Let's go to Joanne in Florida. Joanne.

Joanne, my accent, I hate it. All right, I'm sorry about my accent, Joanne. I hate it. Why? Why? Because it just sounds so awful. Joanne, I can't guess. It's like I'm from Busselton Avenue or something. I can't stand it. All right, well, thank you. Thank you. Thank you so much. Thank you. No, you're just fantastic. I love how you teach financial literacy, especially to our younger generation. That's what I'm trying to do.

I can tell. I can tell. And it's fantastic. I'll watch your show every night. Thank you. Or I'll record it if I don't watch it. Thank you. And I'm a club member. Yes. And I have watched you for years. All right. Now give me a stock then. Okay. The stock is Rio Tinto. Big yield. I believe in the minerals. I think you're fine. And thank you for those kind comments. That was terrific. Jeffrey in Texas. Jeffrey.

Hey, Jim. Jim, great. Big game in Boston, Texas. Booyah. Go ahead. Yeah, I got a question. What are your thoughts on TGCX? I remember when Mike Weiss was an analyst. I always loved him then. I love him now. I think you should buy the stock. And that, ladies and gentlemen, is the conclusion of the Lightning Round. The Lightning Round is sponsored by Charles Schwab.

Coming up, the latest action in the IPO market has investors running in circles. Kramer breaks down the major run higher in the recent public offering from a crypto name. Next. Booyah, Jim. Your integrity makes you the booyah saint of Wall Street. Booyah, Jimmy Chil. Booyah, Jimmy Chil. Booyah, Jim. Quadruple. That's a lot of booyahs.

Some of these stocks that have recently come public have gotten so hot that it's hard to get your head around them. Take Circle Internet Group. Here's a company that makes it easy to buy cryptocurrencies. It came public at $31 a share. It's profitable, which is good. It has a reliable product known as Stablecoin that's backed up by cash and U.S. Treasuries, which makes it totally safe as opposed to other stablecoins like Tether of dubious origin.

And we learned that it's going to be applying to be a national trust bank. It made sense for J.P. Morgan, the principal and writer, to price the Circle deal at $31 because the company made money. But it is nothing proprietary. Any number of banks can create a stable coin. So you can't get too excited about it. But that's exactly what's happening. The stock opened at $69. It never looked back. It's down $181 and change.

Of course, Circle's current price is crazy. Can't be justified by any imagination. Don't take it from me. Take it from the firm that bought it public, J.P. Morgan. Today, on the first day of Wall Street coverage, J.P. Morgan initiated its coverage on Circle with an underweight rating. That's a sell, saying the stock's valuation has been, quote, pushed outside our comfort zone, end quote. They're using an $80 price target, and that's already factored in a nice premium for investor enthusiasm.

Goldman Sachs was a tad more backhanded. It initiated coverage on Circle with a neutral rating. But Goldman's using an $83 price target. This is a $181 stock, for heaven's sake. That seems more negative than neutral. We have to ask ourselves, what is happening here? Well, we know that the market's exuberant about anything crypto. There are buyers of stocks that aren't all that seasoned, people who simply like something that's in the wheelhouse.

They don't care about price earnings multiples. They care about how Wall Street's wrongly writing off what they see as a great opportunity. They're not thinking about potential competition. They're thinking about the scarcity value of anything crypto. They don't understand that Circle stock has run like this in large part because only 50 million shares of the 200 million shares issued are free to trade. They think they may have another core wave on their hands. That's a data center play that has 361 million shares. Only 46 million are free to trade.

When there are so few shares, it's very easy for buyers to annihilate the short sellers who bet against these stocks. And there are plenty of short sellers here. Considerable short, for instance, in CoreWave, 31% of the float. That's kind of reminiscent of the old GameStop in a meme stock heyday. I'm sure the bulls are thinking the same thing can happen with Circle.

I do not want to pass judgment on the buyers. They think they have something going and it will last until more stock is free to trade. Right now, I'm troubled by these moves, but not overly concerned. Core weave is too high, but initially came public too low because it was a nasty time in the market. Circle's too high, but at least it's profitable.

Let's not kid around now. Right now, these two are in rarefied charred foie and rarefied charred foie doesn't last. We might be early. Still, it's worth watching. It only takes a few of these to recognize that things are getting a little dangerous. For now, buyers are shooting short sellers like fish in a barrel. But once the lockup on insider selling expires, the shorts can start shooting back. It's not GameStop. It'll be a very fair fight. I like to say there's always a bull market somewhere. I promise you I'll find it just for you right here on MadMoney. I'm Jim Cramer. I'll see you tomorrow.

All opinions expressed by Jim Cramer on this podcast are solely Cramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, or their parent company or affiliates, and may have been previously disseminated by Cramer on television, radio, internet, or another medium.

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