Mad Money with Jim Cramer – Episode Summary (11/21/25)

Podcast: Mad Money with Jim Cramer
Host: Jim Cramer (CNBC)
Date: November 22, 2025

Episode Overview

This episode of Mad Money dives into changing holiday market patterns, key earnings to watch in the upcoming week, and strategies for navigating market volatility. Jim Cramer covers the shift from human to algorithm-driven trading, the impact of recent data on rates, and provides his signature high-yield dividend stock picks for tough times. The episode also features an analysis of Oddity Tech after its earnings pop, a CEO interview with AstraZeneca’s Pascal Soriot about major U.S. investment, and concludes with actionable lessons on how to spot a market bottom. Cramer's energetic, approachable style energizes the advice and analysis throughout.

Key Discussion Points & Insights

1. Holiday Trading & Machine Dominance

• Theme: Traditional Thanksgiving rally patterns are gone; "machines" now control trading, ignoring seasonal human behaviors.
• Quote:
  "On the eve of the holiday week, everything's changed. The machines have taken over. ... They don't even know about the holiday." — Jim Cramer (03:07)
• Insight: No longer expect sellers to "take Thanksgiving off" — market will scrutinize every data point as usual, even during the holiday period.

2. Earnings & Economic Data To Watch Next Week

(03:54 – 09:43)

Monday:

• Zoom earnings previewed; Cramer is disappointed Zoom hasn't diversified and expects "decent" performance.

Tuesday:

• Awaiting delayed September retail sales. Weak numbers could support a Fed rate cut narrative.
• Pending home sales data expected to be weak, possibly providing more fuel for rate cuts.
• Earnings to watch:
  • Kohl’s: "won't be terrible."
  • Best Buy: Hit by interest rates and tariffs but offset by PC cycle.
  • Dick's Sporting Goods: Could be "insanely good" post-Foot Locker/Nike/New Balance inventory shift.
  • Analog Devices: Weak industrial semis, but if good, could be a buy signal for Texas Instruments.
  • Dell Technologies: Cramer bullish ("You need to own the stock ahead of the quarter"), believes in Michael Dell’s management.
  • HP: "Genuinely hostage" to commodity prices; not compelling.
  • Zscaler: Predicts record-breaking results, likes the valuation after recent sector declines.
  • Abercrombie & Fitch: "Total crapshoot. Not for the squeamish."
  • Burlington Stores: Weakest of the off-price trio.

Wednesday:

• John Deere earnings; Cramer recommends waiting to buy until after the report due to commodity price plummets and government subsidies.

• Bottom Line for Holiday Week:
  "Don't presume we'll have a rally next week. It's not like the old days. Just enjoy Thanksgiving. ... Try not to look at your portfolio too often." — Jim Cramer (10:29)

3. Listener Q&A – Lightning Round (10:34 – 12:18, 28:11 – 40:41)

• Palantir: "I'm a buyer ... wild trader but Karp knows what he's doing."
• Goldman Sachs: Concerned about non-core investments like Excel Sports Management.
• Costco: "Long term, one of the greatest performers ... under $900 is a buy."
• Elf Beauty Supply (ELF): "Too hard for me. Short interest is big. It's slow, but I'm afraid I'll get my head blown off."
• Trade Desk (TTD): "One of the worst five stocks in the S&P 500 this year, but not going against Amazon."
• Opendoor Technologies: "Not a believer until it makes money."
• Poet Technologies: "Losing too much money ... era of magical investing is over."
• Biohaven: Has personal business involvement but notes stock is "very low."

4. Dividend Stock Safety Picks for Volatile Markets

(12:53 – 20:05)

Cramer highlights three high-yield, "safe" dividend stocks to wait out turbulence:

• Enbridge (ENB):

  • Dividend: 5.6% yield
  • "Pipeline operators are basically toll roads for energy ... much less levered to the price." (13:48)
  • Predictable cash flows, growth from North American oil/gas push

• Pfizer (PFE):

  • Dividend: 6.9% yield
  • "See Pfizer as basically a bond equivalent." (15:22)
  • Stock price is stuck but has free cash flow to cover dividend; upside from recent acquisitions and new drugs

• Realty Income (O):

  • Dividend: 5.7%, paid monthly
  • "A sleep at night stock that pays you a nearly 6% yield in monthly installments." (18:58)
  • Broad tenant diversification and very stable occupancy even in past crises

Quote:
"There are a lot of high yielders that are dangerous ... but these three are not. I regard them as very, very safe." — Jim Cramer (19:35)

5. Oddity Tech (ODD) – Earnings Reaction & Analysis

(21:17 – 28:11)

• Oddity Tech reported a strong quarter (revenue +24% YoY, improved margins, beat EPS), stock initially soared then pulled back due to overall market weakness.
• New brand launch: Methodic (telehealth dermatology, AI-powered).
• Cramer calls the pullback a buying opportunity:
  "Right now the story is the same. In fact, I'd argue it's much better ... This time you're doing the opposite of chasing, you're buying into weakness." (27:18)
• Stock's valuation now attractive: less than 18x this year’s, 17x next year's projected earnings.

6. Special Interview: AstraZeneca CEO Sir Pascal Soriot

(30:59 – 39:34)

Major Points:

• Announced $2B Maryland investment creating 2,600 jobs, part of a $50B U.S. R&D/manufacturing commitment (31:08).
• Oncology focus, especially new advances in breast cancer treatment.
• On negotiating with U.S. President for drug pricing:
  "Patients in the US can pay less, but patients in other wealthy countries pay more ... this rebalancing will enable us to achieve those goals." — Soriot (36:28)
• Upcoming listing on NYSE to make AZN shares more accessible for U.S. investors (38:07).

Notable Quotes:

• "There's the cost of development in our industry, but also the risk associated. ... I signed checks for several hundred million dollars the other day for a new program in breast cancer. ... If that fails ... $1 billion wasted." — Sir Pascal Soriot (35:11)

7. Spotting a Market Bottom: Cramer's Strategy

(41:18 – 48:36)

Main Advice:

• Watch proprietary S&P oscillator; minus 5 signals an oversold market ("time to buy").
• Look for "tells" in the market (weakness turning to strength in key tech/storage stocks, bitcoin turning, transports/consumer staples rallying).
• Don’t buy into the first bounce—wait for true capitulation and reversal.

Quote:
"I know this sounds like hocus pocus ... But this is what I did for a living in my hedge fund for years and years. I picked bottoms and tops." — Jim Cramer (47:00)

Notable Quotes (by Timestamp)

• "Nothing matters except money to these machines. They don't even know about the holiday." — Jim Cramer (03:07)
• "Zoom ... has not become more than just Zoom, like it would buy some company to complement its video conferencing business, but it hasn't happened yet." — Jim Cramer (04:27)
• "Dell ... this is Dell, for heaven's sake. I'm not worried about Michael Dell ... I think the story will be about the company still doing terrifically when it comes to the data center enterprise." — Jim Cramer (07:38)
• "Try not to look at your portfolio too often." — Jim Cramer (10:30)
• "Enbridge is not like the producers. The pipeline operators are basically toll roads for energy. ... This one gives you a ton of downside protection." — Jim Cramer (13:48)
• "The days of the COVID year dominance [for Pfizer] are long gone ... see Pfizer as basically a bond equivalent." — Jim Cramer (15:22)
• "A sleep at night stock that pays you a nearly 6% yield in monthly installments." — Jim Cramer on Realty Income (18:58)
• "I haven't gotten it right [on ODD], but the stock's big rally earlier this year turned out to be a false start. The good news, though, the fundamentals remain incredible." — Jim Cramer (27:50)
• "There's the cost of development in our industry, but also the risk associated. ... I signed checks for several hundred million dollars the other day for a new program in breast cancer. ... If that fails ... $1 billion wasted." — Sir Pascal Soriot, AstraZeneca (35:11)
• "Patients in the US can pay less, but patients in other wealthy countries pay more ... this rebalancing will enable us to achieve those goals." — Sir Pascal Soriot (36:28)
• "Stocks do speak, they do say things. And if you listen long enough, you can spot a bottom like this coming." — Jim Cramer (46:00)

Timestamps of Major Segments

• Holiday market observations & preview: 01:38 – 10:34
• Lightning Round (Part 1): 10:34 – 12:18
• High-yield stock picks: 12:53 – 20:05
• Oddity Tech earnings analysis: 21:17 – 28:11
• Listener Q&A (Part 2): 28:11 – 30:59
• AstraZeneca CEO Interview: 30:59 – 39:34
• Lightning Round (Part 3): 40:41 – 41:18
• How to spot a market bottom: 41:18 – 48:36

Summary Takeaways

• Thanksgiving week isn't the safe, slow trading period it once was—automation reigns.
• Be ready for surprises: scrutinize economic reports (retail, housing), and don’t count on time-off rallies.
• Cramer's dividend stock picks (Enbridge, Pfizer, Realty Income) offer solid yields and relative safety.
• Oddity Tech’s growth and telehealth innovation turn its recent weakness into potential opportunity.
• AstraZeneca remains a standout in biopharma—major investments, high-impact cancer drugs, and accessible U.S. listing on the way.
• Spotting market bottoms requires disciplined attention to proprietary signals, market “tells,” and old-school gut from data—not hope or headlines.

"There's always a bull market somewhere"—and Cramer is here to help you find it.