Mad Money w/ Jim Cramer 3/14/25
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My mission is simple, to make you money. I'm here to level the playing field for all investors. There's always a bull market somewhere, and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramerica. My friends, I'm just trying to make you a little money. My job is not just to entertain. It's to put it all in perspective for you. So call me at 1-800-7-WITH-PCBC. Tweet me at Jim Kramer.

What a counter-trend day. We get a day free of presidential posts, glory be, and the market just roars. Calgating 675 points, S&P climbing 2.13%. House of Pleasure. NASDAQ pole voting 2.61%.

So before we get into the game plan for next week, I want to remind you that at any moment the president can wreak havoc on anything I have to say with a gratuitous post reminding people that there's more pain ahead. I've made it clear that I think many of the president's posts are gratuitous. The House of Pain. We're all aware of his trade war. The House of Pain. We don't need to be told here comes pain. The House of Pain.

Right now, people are scared. We saw a shocking decline in the University of Michigan Consumer Sentiment Survey this morning. People fear inflation and worry about their savings, which happens to be, in many cases, the stock market. They don't know what tariffs mean, and they haven't had them explained to them in any satisfactory way. So they figure the tariffs are yet another thing that raises prices in the supermarket, and that's probably true.

I know the president and his crew have chosen not to focus on the stock market because they don't want to have it be a referendum on themselves. I agree with that. But it won't be. It'll be the voice of the people and what they're worried about. Think of the market as a gauge of hope versus despair. The results lately demonstrate despair, even if today we finally got a solid session. The cause and effect are so palpable that you don't need me to tell you how these gains came about, do you?

We're going to have another referendum of the consumer. It's going to come as soon as Monday when we get February retail sales numbers. I think the consumer has pulled back hard because the consumer fears their jobs. They want to know if they're next. It's unavoidable. The president's ability to create a climate of hope or a climate of fear. And lately, Trump's gone all in on fear. It's a shame. And it'll be reflected in what I am sad to think will be some dismal retail sales numbers.

On Tuesday, we're going all happiness. We're going to San Jose, California, to GTC, the all things generative AI conference run by NVIDIA, long my favorite company.

the event known as the woodstock of ai is a week-long affair and we'll be there for the crucial events on tuesday and wednesday including jensen wong's what i think is going to be an amazing keynote address on tuesday hey speaking as someone who missed the original woodstock i'm not going to miss this woodstock and to me this is woodstock look at these companies look at how great these companies are these are unabashedly positive companies that create

They create wealth, they put food on the table, they give people jobs. This is what I celebrate. Also on Tuesday we get February housing numbers. We need these to get stronger because we can't slip into a recession. That'd be terrible. Any kind of slowdown is quickly reflected in housing, which then gets reflected in retail. It's a delicate chain that starts with housing, which is why I'll be watching these numbers like a hawk. Now let's talk about something disconcerting. Home prices are too high.

We all know that lumber is a big part of the cost of a house, and we get a huge percentage of our lumber, sadly, okay, from Canada. Right now, the president's furious with Canada. They're pretty furious about all that 51st state rhetoric. What if Trump doubles down on tariffs and decides next week to slap a huge duty on Canadian lumber? Hey, 200%. It could be devastating for both of us, you know, Canada, but certainly us. Now, I don't know if he'll go there, but it certainly makes sense that he would, given what he's been doing.

Just the right time to teach us a lesson, right? No cheap housing for you. Wednesday is super important. That's when the Fed Open Market Committee meets and they break up. And then we hear what Jay Powell has to say, the Fed chief. The last two numbers of inflation are actually pretty good, the CPI and the PPI. So maybe we're OK here.

In general, though, there are whole categories where high prices are truly sticky. Categories like rent, some food, entertainment. The Fed might talk about a weakened consumer, but I don't think they'll do anything about it. They might give the president a chance to lash out and blame Jay Powell for not helping the economy. Powell's an obvious target, and you better believe he'll be attacked by this administration. I hope this dedicated, wise public servant doesn't read postings on True Social about himself. Mr. Powell, spare yourself the pain.

I also be very mindful that there's still one more round of tariffs that I'm expecting, maybe as soon as next week. That'd be 25% tariffs on all imported autos, whether they'd be from Germany or Japan or South Korea. I don't know what the president's waiting for. Doesn't he believe that? These countries pay a tiny amount, usually a tenth of the 25% that the president's put on Canada and Mexico. I'm sure President Trump doesn't like that.

And he'll probably post that he doesn't, maybe as soon as next week. I fear the president will choose Wednesday to lower the boom, so be prepared. Sure, the market's oversold. It may stay oversold by Wednesday, so it could possibly handle any auto-related tariff news. But you have to be ready for them. They are coming, and they won't be here in any measured way.

Now, we've got some important corporate news Wednesday, too. First, General Mills reports, and I read a piece this morning that predicted that they'd missed their numbers. I know Mills is in the crosshairs of the Secretary of Health and Human Services, Bobby Kennedy Jr., because there's artificially colored cereals that make you want to eat stuff that's too sugary. Plus, it makes some fattening foods that won't do well when people are continuing to adopt the GOP-1 weight loss drugs with a vengeance. I don't expect a good number here, and nobody else does either. Thursday's abnormally huge.

In the morning, we have Darden, the parent of Olive Garden. The restaurant cohort is still all over the map. I see a lot to like about the ones that offer the customers a great value. And that's why I'm betting we'll see good numbers from Darden. After the close, the big guns come on out.

First, we get results from FedEx. The transports hit a new low yesterday and people are really fleeing this group. This may be our opportunity to buy a high quality transport at a big discount as FedEx continues to cut costs. I like that. I want to start a position here as I think CEO Raj Subramanian is doing a remarkable job. Fantastic.

Then we got Micron. This very valuable chip maker, one that's been very committed to the United States more than any other major semiconductor play, received a $6.16 billion grant from the Biden administration as part of the Chips and Science Act. Will President Trump post that it's time for Micron to give the money back?

It could definitely be a moment to reign on Micron's parade, as I expect a decent quarter from these guys. Because the DRAM market's healthy, and more important, their high bandwidth memory product line is going to go through the data center, and it's on fire. Should they be attacked for taking money that was offered to them? I think 99% of us would take it.

Then there's Nike, which needs to officially say that it's back on track and ready to grow again. If management does, that $71 stock will see $80 very quickly. I regard Nike as a coiled spring. Minimal downside, certainly worth doing. One more. Housing kingpin Lenar reports. And if I think, if what I think is going to happen, lumber will be on the table. It will be discussed very negatively. Stuart Miller, the executive chairman, will speak to the question of affordable housing. He's been important in trying to make that happen. As we saw earlier this week, when CNBC focused on a Texas housing project,

that used 3D printing and concrete to build what looked like some fine homes by Lenore?

Finally, on Friday, we hear from Carnival, the cruise line. Cruise lines are flagged outside of the U.S., which has made them the target of the Commerce Department. I wonder if Commerce Secretary Howard Ludden picks this day to lay into Carnival. If not, I think that the group's been strong, even as the stocks have been awful of late. We know the business isn't weak, and therefore Carnival stock could be ready to roll as long as it's not attacked by the administration. But the bottom line, no matter what we hear from these companies, next week this market's hostage to the White House and the Federal Reserve, and the latter can't post.

Unfair fight. Let's go to Jake in New York, please. Jake. Hey, Jim. Booyah. Booyah, Jake. How you doing? I'm okay. How are you? I'm okay. What's happening? Well, it's your anniversary. Congrats to you and the team. Thank you very much. We have a great team, and I know it's kind of like my anniversary quarter is the way I'm looking at it now. My anniversary quarter. Thank you. What's up?

So I'm confused with this one. I think it's at the point where management's going to end up owning this entire company.

I guess I'm rolling the dice on MGM Resorts International. You are rolling the dice on MGM Resorts International. I'm not a dice roller. I am a card player, and I like it very much. But I wouldn't want to own that one. But you know what? We're going to go out west. We're going to talk to Wynn. Maybe I can figure out a little bit more about what to do with the casinos, providing that the president doesn't post that you're not allowed to go to casinos anymore. Never know.

Anyway, next week's earnings are important, but the market is only hostage to the White House and to a lesser degree, the Fed. Tough place to be, particularly because the Fed can't post, but the White House can. I've been thinking about where the market could have been if the constant news of tariffs

hadn't caused all this fear. Don't miss my take. Then today's rally showed that there's still opportunity to be found in this tape. I'm rounding out my sell-off opportunity series with one more sector that's worth looking at. And by the way, the others really did well, so you got to listen up. And as we navigate all this market volatility, I'm getting a better sense of where our viewers' concerns lie, taking some questions from the investing club members who didn't get to have their questions answered in yesterday's club meeting. So stay with CREEP.

Don't miss a second of Mad Money. Follow at Jim Kramer on X. Have a question? Tweet Kramer. 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.

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Indeed.com slash madmoney. Terms and conditions apply. Hiring? Indeed is all you need. Take a breath. It's worth thinking about this week for a moment and what it would have meant just a few months ago if things hadn't gotten so far off the rails. What would have really happened? What would we have been talking about if it hadn't been about these ephemeral issues of trade and tariffs?

What would have happened if the White House had just taken a more considered, measured approach to getting better terms from our trading associates? One that wouldn't wreck the stock market in the process or cause such worries, such jarring to consumer confidence.

First, right about now, we probably would have been celebrating our 10th multibillion dollar IPO right here. An inspirational parade of capitalism that would have led to bigger hiring speeds than any five modern day factories. I'd be tired of watching that bell ring with all sorts of these new successful people would be pretty thrilled about the businesses they're talking about. And of course, the friendly administration that welcomed them. Remember that concept?

Without the trade wars, we would have seen some big IPOs in exciting areas like biotech, which would then lead to spending on hardware and software, big drug trials, produce big wins, really help so many people. We would have had software as a service deals, enterprise software companies that so many of these growth funds thirst for. Many would be able to compete with the giants because they would have been armed with fresh capital. We might have seen some fintechs that want to scale or data center companies that need capital that only the stock market can provide.

Again, all this could provide more job creation than forcing manufacturers to put a factory here or a factory there.

Second, without the trade wars, I think we'd finally be seeing some mergers that make sense. Help rationalize businesses like tech, where new dynamos would have been created to take on the old tech giants that have been grandfathered in because we've had silly virtual ban on mergers for the last four years. We could create new hyperscalers to compete with the current ones. We wouldn't be focusing on only the same old tech companies because new ones would have been created. There'd be spirited competition rather than these stagnant hierarchies.

Third, we could have wrapped up the endless persecutions of our tech companies, except unfortunately, the new president's antitrust regulators are much tougher than anybody expected, even if they're tough in a different way from the Biden people. Turns out the Trump regulators share the same anti-business philosophy as the Biden people. And I thought people voted for a choice, not an echo. Who'd have thunk it?

Fourth, rather than the offering on the canvas countdowns for various retailers, we'd be talking about how Target's making a comeback and Kohl's can make it, too. That's what happens when there's consumer confidence that's not sapped by angry postings about things the average American can't begin to understand. And no one is helping to explain to us. And I consider myself an average American who took three years of economics at Harvard. We would have seen the travel boom continue, too. The cruise line stocks would be holding up just fine.

Fifth and most important, we just had unhurled back-to-back positive surprises from the Consumer Price Index and the...

And then from there's the price index. Those cooler inflation readings are putting us back on the flight path for rate cuts as the Fed once again winning the battle against inflation. Sure, we still have inflation in food, but I think it's peak, something that we would have heard in the last few weeks from all the major grocery chains, but you couldn't hear it over the din of anger. It's incredible to me that two sets of very important data meant nothing because of Canadian electricity, Jack Daniels and Vivco Co.,

Oh, and inflation is about to be mandated by the White House via tariffs that won't bring in all that money, so don't look for any more rate cuts. Listen, I'm not calling for unfettered capitalism. I'm not in favor of corporate collusion. I don't cheer when people get fired, though, and I don't carry a chainsaw. I'm simply saying that had someone left well enough alone, we could have

crack down on our trading partners effectively through cheerful but forceful behind-the-scenes arm-twisting, not rancorous, angry postings, some in all caps, no less. My view? Speak softly. Carrie Howitzer. Oh, and before you start saying that I'm too critical, can I just tell you something? Please remember that I'm one of the few people in this business or any business who is an avowed anti-free trader. I think the president's right that our trading associates are

I'm not calling partners have ripped us off for years. I'm even more forceful than he is. We're the only country that plays fair on trade. It's not worth it. We sacrifice the American people. I just wish the White House would be more patient and methodical in its approach. They got four years to solve this problem. There's no gun to their head. In fact, it's better to take it slow because we need years to fix our supply chains. So business is seamless and the customer gets the product on time and we get the job done right. Sometimes, sometimes you just got to play the long game.

Well, you know what? In Mad Money's 20th year, I've become the stage. I guess someone had to be one. Might as well be me. This grizzled at one time, very angry veteran of the stock market. Mad Money is back after the break. Coming up, Kramer's combing through this week's wreckage to find some buying opportunities among recent IPOs. Next.

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All week, I've been doing my best to break through the gloom and doom with a more constructive attitude. Because when virtually everything sells off, you tend to get some incredible bargains. I only assume if you know where to look. After today's rally, I think you have to agree with me. But the market's still very oversold, which means, barring postings, we could have more room to run. So tonight, I want to highlight some of the hardest hit stocks out there. The recent IPOs that have gone from the hottest stocks in the market...

to truly hideous performers over the past month. Whenever people get terrified, they ring the register on all sorts of good stocks, and that includes pretty much anything that recently came public. That's really where they go. Of course, we only want the best ones, which is why I'm sticking with Kava Group,

Reddit, and Viking Holdings. Kava Group, Reddit, and Viking Holdings. Because I think you're getting an incredible chance to buy all three down substantially from their highs. Why don't we take them one by one? Let's start with Kava Group. That's a Mediterranean restaurant chain. Came public in June of 2023. Kava started out real high.

It then had a multi-month cool-off period. I started recommending it in the low 30s back in November 2023 after CAFA's chairman, Ron Shaik, formerly of Panera Bread, convinced me that it had the potential to be the next big thing in casual dining. Now, this stock then marched steadily higher through most of last year, ultimately peaking at $172 last November. That was after CAFA reported a tremendous quarter, and its share shot up 19% intraday before pulling back and finishing up less than 2%. Now, it is never good when you see that kind of rally. That's called a pirouette. You've got to steer clear of those.

Sure enough, this one's been pulling back ever since, trading down to the mid-70s, although it caught a nice bounce today along with the rest of the market. Still, Kava's been more than cut in half.

because it's right in the center of the blast radius. It's a restaurant. It's a recent IPO. It's got an expensive stock, even after the sell-off. None of those are what you want if you're worried about the consumer confidence figures that everyone else seems to be. I never recommended this stock because I thought it was cheap, though. I like coffee because I think it's an excellent long-term, what we call regional to national story. They had 367 locations.

At the end of last year, their stores are doing very well, and they've got a ton of room to expand from a regional to national player. That's right, all over the country. And for the record, Chipotle stock was never cheap either. I don't see any signs of the concept losing momentum. When Cobb reported its latest quarter, it delivered 21% same-door sales growth, for heaven's sake. Now that the stock's down 55% from its highs, you've got my blessing to start buying Monday. And if it keeps falling, you know what you should do?

Buy more. How about some others? OK, Reddit. That's the online message board website that I've liked so much since it came public. Major player in online advertising space. Stocks going from being red hot to freezing cold practically overnight. I started recommending it last May at around 50 bucks. By December, it shot to 153. That's why I suggested that you had to start taking something off the table. Although Reddit kept climbing to 230, where it only peaked just over a month ago.

Since then, the stock's going straight down. It's falling over 50% in a month. No, no, no!

Reaching a low of 105 and change on Monday before rebounding to the high 120s as of today. Remember, this rally today encompassed a lot of these kind of red hot stocks and also some stocks that I don't really care for, the quantum stocks, the electric stocks, nuclear utilities, you know what I mean. Just like with Kava, Reddit hasn't done anything wrong. Last month, they reported a terrific quarter. Revenue growth accelerated all the way to 71%. The problem here is that this is exactly the kind of stock that people dump whenever we get hit with a market-wide meltdown. It's almost programmed.

The only scenario in which I'd get more bearish on Reddit's fundamentals would be if the current period of macro uncertainty turns into an outright recession, because a recession

would really hurt their advertising business. In a recession, anything that depends on ads does get crushed. But I don't think we're headed for a recession, which means Reddit's pretty darn enticing now that the stock's practically been cut in half. Right now, this thing's selling for, don't, okay, these numbers are going to make you freak out a little bit, don't. It's selling for roughly 58 times your share of earnings estimates.

39 times next year. OK, it's not crazy for a great regional national story. I've seen this over and over again. Plus, based on the way that Reddit's been beating the estimates, I wouldn't be surprised if the stock ultimately proves to be much cheaper than it looks right now, if only because the future earnings are likely to come in higher than expected. Again, as long as there's no recession, as long as this thing continues to be able to spread and grow, not just from this nation, I should say all over the world, Reddit's a winner. And I think it is going to be very big internationally. Finally, one more quick one, Viking Holding.

the parent company of Viking Cruises, which is a cruise line best known for its European river cruise routes and its upscale, sophisticated market positioning. By the way, remember when Royal Caribbean was here and they were talking about doing river cruises? These guys own this market right now. They're going after a particular kind of customer, though. Hence why one of their slogans is no children, no casinos. You know exactly what you're getting here. Now, I don't know if you've heard of the Royal Caribbean.

I recommended Viking Holdings the day after it came public on May 1st, back when the stock was at 27. Regular viewers know I am a big fan of the cruise lines, going for one in May. They represent a great value, and Viking's a unique player with an impressive focus on rich American baby boomers.

We watched with glee as Viking stock glided higher and higher and higher throughout last year and even the first few weeks of 2025. Eventually, it peaked at $53 and changed in early February just before the market-wide sell-off. Since then, the stock's fallen back to 40, down roughly 25% from its highs just over a month ago. Again, like I explained when I told you to buy Royal Caribbean on Wednesday, the cruise lines are different from other travel plays. They represent incredible value.

versus traditional vacation alternatives, especially if you wanted to drink heavily. And that's still true of the upscale Viking cruises. But for Viking in particular, we have a fresher company specific catalyst. On Tuesday morning, the company reported an excellent quarter with inline revenue and impressive nine cent earnings beat off the 36 cent basis.

No one paid any attention to it because of the market-wide sell-off. Mads Rundell said some very positive commentary about the full-year forecast, with CEO Torstein Hagen noting that the company was growing capacity for its core products by 12% this year, delivery of 11 new ships, they're already 88% booked for the 2025 season. So it sounds like smooth sailing for Viking at present, and we got this update after the tariff reign of terror had already started.

With the stock down meaningfully to the point where it now roughly trades at 17 times this year's earnings estimates, I think it's another one that's worth buying right here.

Now, here's the bottom line. Even after today's rebound, tons of stocks are still so far down from their highs. And I think we've reached a point where you can hunt for opportunities in the hardest hit names. Assuming you stick with the best operators. And therefore, I think things like Kava Group, Reddit and Viking Holdings, they came down the hardest. And assuming we get through this, they're likely to bounce back the hardest, too. Let's go to Austin in Massachusetts. Austin.

Oh, yeah, Jim. Love you, brother. Thanks for having me. Thank you. What's going on? Jim, so, Jim, I caught Palantir under $10. And I think this stock, similar to Palantir at the time, is grossly overlooked and misunderstood. They've got real American manufacturing innovation, major production expansion, and recent $6.5 billion government financing it for a Georgia plant.

They just crossed gross profitability per vehicle sold. They've got a low price to sales multiple of 2.2X. All right. You got me intrigued. You got me intrigued. They're dropping quad motors, Jim, in 2025 that run 0 to 60 in 2.5 seconds with 1,000 horsepower. Inconceivable. They're also growing FSD. Oh.

They're also growing FSD. And their founder, RJ, is a strong leader with an impressive background. RJ Scringe, that's the hint that you wanted. If we were playing Jeopardy with David Faber, we'd be getting clobbered. Okay, I know this is not what you want to hear, but I don't care for the balance sheet. If they had a better balance sheet, then I would say fine. I know they've gotten some money from others, but it takes a long time to go public. People misunderstand how long it took for Tesla to be able to get there. And Tesla had a

You know, it had a whammy jam of a musician at the top of it. And these guys, Scringe is good, but I do worry about the financing. But I'm so not done with questions. I feel like going to Bill in Massachusetts. It's just my own thing. Bill. Jimbo, I'm a proud Cray-American and proud club member. Can I just take one minute and say a couple of things?

I love being in the club. It's the best club I've ever been in. Thank you. How about yesterday when we stuck our neck out in the absolute middle of the teeth of the sell-off? Thank you. Okay. I don't even know. I can't even say enough. It was a pleasure meeting you, Jeff, Regina, and your staff is so kind to an ignorant old man. It's just incredible. Well, that's me when you speak of that. I will tell you that I love the club, and I'm so excited about the fact

We've got the meeting coming up, and that's going to be fun. I'm looking at Regina Gilgan. She's doing so much to make the meeting great, all the little nitty-gritty stuff, and she's so excited about it. It was a pleasure to meet her. She's an awesome person. She really is. She is.

So is your mom and dad. Her mom and dad are dynamite, too. All right. I tell you, Jim, I was so happy this week. I was able to open up a position in Costco and Netflix in 800. I was so happy. There you go. Oh, I'm ecstatic. Ecstatic. I just wanted to ask your opinion on G.E. Aerosmith. Can it take more share from Boeing or Hamid? How do you think they're going to do?

man. Okay. Okay. Okay. I think the answer is they can take a ton. And you have to buy it and buy it like mad because what's going to happen is there's going to be so much servicing of these planes and that's where they make the biggest money. And don't forget you're getting Larry Kolb, who's one of the greatest executives in America. Okay.

At this stage in the sell-off, I think you've got to start buying some of the hardest-hit names. Many of these new IPOs went down hard, which means they can bounce back hard, too. But we're not going to head. Jeff Marks and I took a crack at all your burning questions yesterday during the monthly meeting, but we didn't get to all of them. So I'm circling back. Then my exclusive with a private beer company that's been bucking the trend of higher prices. And, of course, all your calls rapid-fire tonight's edition of The Lightning Round. So stay with Kramer.

After a very volatile week, investors and home gamers are probably heading the weekend exhausted, worn out, maybe even worried what next week could bring. That's why I want to take a step back and gauge what our viewers are most concerned about by taking some questions from investing club members that we didn't have time to get to yesterday. And club members, I hope you enjoyed yesterday's call. It was a high wire act for

We're certain. Remember, if you want to be a part of the Investing Club action ahead of next month's meeting, why don't you go to cnbc.com slash investing club or just scan this QR code. One day I'm going to figure out how to do that. I hope my phone up to nothing happens. Anyway, let's kick it off with a question from Matt.

who asked, in January of 2025, I invested in Tesla at a price of $400. Should I continue to hold this position or sell and move into Uber? Okay, now here's the thing you need to know. It doesn't matter where you bought something. It matters where it's going to. The stock's been cut in half. It seems like a bad stock. It's going to now turn in narrative to being about humanoids and being about self-hand driving, so you're fine with that. I also like Uber. Six or a half dozen for me, frankly. That's how much I like both of them.

All right. Next up, Mark asks, I have some gains in Walmart, like 7%. I trimmed some on the way up and it's about 10% of its high. When is a good time to add my position? What price? I actually don't like Walmart here. I think that the stock has moved up too much and we want to wait. And then if, and I'll tell you the truth, maybe in the,

low 80s, no, maybe even the high 70s. Because right now, retail is a very hard thing to do. And the only retailer that I'm saying to buy right now is TJX. I like Costco, but TJX is much better than Walmart. Much better. I want you to sell to Walmart and buy TJX. Now,

Now let's go to David, who asks, you talk about the club avoiding buying above its cost basis. I have good stocks like Apple and Nvidia that have increased over time. So now my base is way below current price. How can I ever add to my position since it won't get back to my basis? We addressed this actually on the conference call. And I was quite briefed. And my thinking was, you know what? I just have to violate my sometimes have to violate my discipline. And you know that the ones I did was wrong. I'm going to tell you this.

Don't violate your discipline. Just don't buy them. If you want to pick one, that's okay. But this whole idea of violating your discipline because you think you're going to be right like I did, it was wrong. And that was one of the things that I brought up in the call. Now, next up, Patty asks, I would like to buy into Costco as I think it's a great company and a price refuge for folks struggling in this economy.

is there a good time to get back to the stock? Right now, the stock's in free fall. Now, why is that? Because these knuckled analyst fellows are bad quarter. They didn't know how to read the income statement, and they certainly didn't know how to listen to the conference call. This stock is now, when a stock is in free fall, what I like to do is tell people,

wait. It's going to tell you what to do. It's going to meander around here, 900, 860, 920. We're going to wait till it settles. And when it settles, we're going to buy. But we just don't know what level is going to settle. That's what we do. It's called patience. Now let's go to Randa in North Carolina who asked, I have been a longtime beauty, a new holder of elf beauty. Is there any hope of a comeback? I was very disappointed in how the stock acted last time. I

I felt that it left something to be desired. And I truly now have come to dislike the cosmetics category. I didn't even like the old to call this morning. Um, I think that, uh, you're going to get a chance, I think, to actually sell it. Uh,

And I'm saying that not because I don't like Elf, but I don't like Estee Lauder. I don't like Elf. I don't like Sephora, which is in Kohl's, doesn't trade as an individual company. And I just think the group's gotten too hard. So when we have a lift like we're having here, let it go up a little bit and then you have to go. There's no harm in recognizing that right now that is the most challenged category I know in the entire economy.

Next up, we have a question from Chris in Pennsylvania. He wants to know, how will the tariffs affect Canadian companies like Shopify? Should we hold on to Shopify?

I'm stumped on that. You know, I'm stumped on that because the people who have come up with these rules about what we're supposed to do have given us so little clarity whatsoever that I have no idea. And I use Shopify all the time. Actually, two members of my family have businesses with Shopify and we have no idea what to do. Why is that? You think it's because we're being kept in the dark. And you know why? Because I think you can't post longer than a certain number of characters and you need about.

10,000 characters to understand what tariffs mean in Canada or Mexico. Sorry. The moment I get clarity, I'll give you a buzz. Now let's go to another quiz, this time in Colorado. First off, thank you, Jim, Jeff, and the entire Investing Club team. I really appreciate the work you do. Thank you.

That said, is it time to start looking to other countries for investments while we experience the lower prices for all items in the U.S. stock market? Thanks to Cuba for the great work. Look, I blew it. Remember how many times I said Santander, Santander, Santander, and I didn't do it? Now those stocks have all run. Santander is at six and three quarters. I was worried about the dividend and how people would say, Jim, you can't use the traditional tax rules for dividends. I was Lilliputian. Next time I'll be bigger.

Next up, Heather in Illinois asks, with more and more countries boycotting American goods, should we be worried about companies like Apple, Starbucks, and Costco? Thank you for always bringing a level-headed perspective and calming presence in any situation. Your voice of reason is truly appreciated. We're always going to have to worry about Apple because it's such a big company. Starbucks has political issues at the time, but it's loving their area.

But Costco, I don't get it. Costco, when it had its vote on DEI, was in favor of DIY. Why? Well, I think a simple reason is it's the best, most lucrative company on Earth. And if it has DEI, well, then, hey, maybe it should have more DEI. OK, now let's go to Robert, who wants to know, with the big pullback after Marvell's latest earnings report, is this an ultimate buy opportunity? And the answer is yes. Right now, the stock trades at a level that it did before it even had artificial intelligence. That's ridiculous. Matt Murphy's doing an amazing job.

I think that stock is an incredible bargain. I am a buyer, Marvell Technology. I want to thank to all club members. And remember, if you're not a member, join the club. Join the club. You know what I would do? I would scan the code because that other thing with the slash and the this and the that, that's just too hard for me. Sorry. Matt Mice back in for me.

It is time! It's time for the lightning round. And then the lightning round is over. Are you ready? Let's get that. It's time for the lightning round. Let's start with Alexandra in New York. Alexandra. Hi, Kramer. I'm talking about serve robotics.

Serve robotics, meme stock. No, don't need it. Losing too much money. Hey, by the way, the quantum computers, I'll throw those in too. They're going to go for a couple more days and they're going to sell that. Let's go to Robert in Florida. Robert. Hey, Jim. I appreciate all you do. I have a small position in Trade Desk, T-T-D.

We need them to come on. I'll tell you this. We need Jeff to come on. I'm kind of blown away about how badly the stock acts, but I know when I read the quarter, he was very upset with himself. We get him on. Maybe we can get some answers. Otherwise, it's going to keep going down, I'm afraid. Let's go to Billy in Pennsylvania. Billy.

Hey, Jim. First time, long time. Wanted to get your thoughts on Louisiana Pacific. I think you should buy it here. Oregon's strand board could go higher. President's probably going to announce tariffs against Canada for, I know, for lumber. And LPX is going to go right up to $120. Let's go to Ryan in New York. Ryan. Jim, happy 20th anniversary to you. Thank you, partner. Thank you. Appreciate it. I'm calling because I want to be...

Call on about one of the colossal social media companies. They possess a decade's worth of photo and video memories for multiple generations. Accounting to 443 million daily active users, only 14 million of those users subscribe to their Plus service. The company has been beaten down since its COVID highs, particularly due to new issues, stock dilution, hitting its 52-week bottom this week. Could organic growth turn this company around? Or with a $14.5 billion market cap,

Is there a chance some big whale comes in and looks to eat this fish whole? Stock in question, S-N-A-P, Snapchat. Too much stock-based compensation. They didn't get the balance sheet right. They still, I mean, there's a possibility they'd make some money. I got an idea for them. New CEO. By the way, there's no crime in that. You just swallow your pride and you just say, hey, you know what? I'm going to let someone else do it. Let's go to Nathan in Illinois, please. Nathan.

Hey, Jim. Booyah. Booyah. What's happening? First time caller here. I'm moving money from the sidelines into high yielding dividend stock. All right. I like your call. Should the current administration's protectionist trade talk worry me about investing in Enbridge, Canadian? No, Enbridge got so much business in America. I would not worry about that. Yield is safe for companies with dividend risk to credit. It's a great idea to buy Enbridge. Let's go to Matt in New York. Matt.

What's up, Jim? Oh, you tell me what's happening. I said...

So Dan Ives says SoundHound is an underappreciated pure play AI company with big potential. Do you think it's a real investment or do you think it's just more? I think it's a meme stock. And I'm just going to call them as meme stocks from now on because that just means, look, you can't really value it. It doesn't mean my value. My instinct and my I can't help you when it's something like SoundHound because it's a meme stock. It's going to go wherever the meme people want it to go. And good luck with it. Let's go to Vic in Texas. Vic.

Hi, Jim. How are you? I'm doing fine. How about you, Vin? I'm doing good. So I am having an Accenture stock quite a bit long, like almost 10 years now. And recently it dropped a bit, like around 10, 15 percent. And I would like to know, because the earnings are coming next week, should I hold it or should I sell it?

Wichita? I'm sorry? Accenture reports next week. A lot of people feel the quarter's going to be light. I don't feel that way. I think you should buy it here. And that, ladies and gentlemen, is the conclusion of the Lightning Round! The Lightning Round is sponsored by Charles Schwab.

Consumers are sick and tired of paying high prices for just about everything, including the beer aisle. So when I heard about this app called Outlaw Beer, a new brand that's severely undercutting all the major players, quality beverage, rock-bottom prices, I had to get the full story. Even though this company is still privately held, we usually just do publicly held companies, I think it's an up-and-comer. I think it's something to watch.

By the way, we need more companies to follow their playbook, taking advantage of the high price of everything and the endless price increases that have been put through that we're so sick of, you and me. These guys are undercutting the incumbents with a quality product. So yesterday we sat down with Ari Opsal. He's the CEO of Tivoli Brewing Company, which is the owner of Outlaw Beer. And I want you to take a look.

Disrupts, welcome to Mad Money. Thank you so much, Jim. Couldn't be more excited to be here. Well, I'm glad you're here because you're doing something that I find to be very exciting. You are disrupting a business that, frankly, hasn't allowed people to disrupt in a very long time. So why don't you tell us a little about Outlaw? Yeah, so we build Outlaw.

And we really, we launched it over the last three years just in Colorado. We're now distributed in 44 states in less than three years. We're not everywhere, but we're not that hard to find. You can always go on our website, outlawbeer.com, find the closest store. And we built Outlaw because we believe that America deserves a new light beer at affordable prices.

And we believe that through our consumer research that people are looking for an alternative in the space. Now, I think people have to understand, for my earlier generation, beer was pretty cheap. But there have been price increase after price increase after price increase. Give me, say, your...

What it costs to buy a case of yours versus Coors, which I think is made not that far from where your streams are. Yeah, we make all of our beer ourselves down in La Junta, Colorado. We've got an amazing team down there. Takes an enormous amount of pride in everything that we put out, every case, every can. And, you know, the beer itself is really meant to be a disruptor for the category, right?

So, in other words, high-quality beer equal to what we go, a national brand. Premium. But at a rather, I mean, we can go against Modelo, against, of course, Bud Light. It really comes underneath those. It does. And yet you can still make money. You're a private company. You can still make money. We're...

Low margin, but we're working on scale, right? Everything when it comes to consumer goods, scale is where all that margin growth comes from, right? So we're early stage. But, you know, now that we're in 44 states, we're starting to achieve some of that scale. And we want to make sure that we're investing to the best price to the consumer that we can offer.

Well, one of the things, Harry, that I think people are fed up with, and when I heard about your situation, here's why. Not that I want to sell beer. I like beer like everybody else. But I'm sick of it. I'm sick of everything being raised. All our viewers are sick of everybody getting away with it, just getting away with raising and raising and raising. We keep thinking somebody's got to be able to come in and make decent money and give us a, well, turns out, a great beer.

Yep. And look, I think the incumbents with the legacy brands have been opportunistic on every opportunity to take price. Right. And we're fortunate. We've got an incredible group of investors. Right. This takes capital to do. Right. And we've got an amazing group of investors that are backing us the whole way. Well, who are some people who are partnering with you?

So retail partners and we've got marketing partners. So on the retail side, Walmart, Circle K, Costco, HEB down in Texas, they want to bring their customers a great premium beer at an affordable price. So they're actually, they don't mind you coming in even though we've got the incumbents that have all the money.

this money in the world, drive traffic to their stores, they don't mind you coming in. They want us to come in because they want to bring better value to their customers and get their customers coming back to shop at those stores.

Now, tell me about if you put tariffs on, say, a Mexican beer. Now, initially, I know Constellation felt that Modelo, number one beer, would really, you know, look, the president won't care. But the president keeps saying no exception, no exception, no exceptions. So what would be, with tariff, a Modelo Especial case versus you guys? Yeah, you know, look, I think the import brands will absolutely get hurt by the tariffs, right? Which is bad, obviously.

I think there's a look, there's a break point. But for us at Outlaw right now, all we're focused on is building a brand and disrupting the category. And so the tariffs look, I don't control the tariffs. Right. And we'll roll with the punches and we'll figure it out and we'll manage it. All right. So what do you do with somebody who says, oh, come on. I mean, it's got to be lousy beer. It's so inexpensive. Yep.

I would tell them, guys, beer is too expensive in this country, specifically light beer. And so we came in and we said, we're going to use premium ingredients. We've got our own brewing process. Like I said, we make all of our own beer. And we're going to invest in value to the consumer. Rather than running Super Bowl ads and sponsoring every sports team in America, I'm going to

I'd rather give America the new light beer that they deserve at an affordable price. All right, so let me say, what kind of brewery do they have? I mean, do they use it in a real brewery? Are they a little craft shop? What's that? So we had our original brewery downtown Denver, actually in the building from 1859. One of the oldest breweries in the country, oldest in Colorado. But we actually outgrew that in the first six months. And we're at a large production facility down in La Junta, Colorado.

OK, so tell us whether I mean, I don't know the geography, but, you know, Eastern, Southeastern Colorado. All right. Now, I need to know about what I think is very discouraging to new companies, which is a thing called the three tier system that we have in this country. Yeah. And look, the three tier system was formed after prohibition. Right. And it was meant to be a solution to drive jobs, to drive the economy and to, you know, work with alcohol brands.

across the country. But now that same system has created enormous barriers to entry. And that system is that you can own a brewery and also an arrest, a place to prevent. There's a layer in between, a distribution layer. You can't go to my favorite bar and give them 10 cases. No. So let's say Jim's Corner Bar opens up right around the corner tomorrow. And you got to know me and said, hey, I want to carry outlaw beer.

I cannot sell you that beer. I need a distributor. I need to convince a distributor to carry the product. And then I need that distributor to sell it to your bar to then sell to a consumer. Well, why would it buy the distributor? I mean, of course.

Of course, it's my biggest customer. I don't want to go and give them out. Well, it could hurt me, of course. Well, I think what we're seeing is that not only at the retail level, like with Walmart and Costco, but also at bars and distributor level, they're looking for a product within this category that is disruptive, that is affordable, that is bringing back the fun of beer. Beer should be fun. We don't like $16 beer.

We've been paying $16 beer. We don't like it. We're paying for a case. We don't want to pay for a single one. Exactly. Well, look, I want to thank you for what you're doing. I appreciate it. I think it's a good idea. I think the prices have gotten out of control. Everybody should watch what you do. They should figure out a way to be able to come in underneath everybody. They should come underneath an insurance. They should come underneath in candy. They should come underneath in cars. All right? That is...

Ari Opsal, he's the CEO of Timberley Brewing, which you will know as Outlaw Mile High Light Beer. I say go crack a cold one. Like I said, there's always a bull market somewhere. I'm starting to find it just for you right here on MidMonday. I'm Jim Cramer. See you Monday from San Francisco.

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You should not treat any opinion expressed by Jim Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Cramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Mad Money Disclaimer, please visit cnbc.com forward slash madmoneydisclaimer.

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