Mad Money w/ Jim Cramer 1/16/26

Summary

Mad Money w/ Jim Cramer – January 16, 2026: Full Episode Summary

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Main Theme & Purpose

This episode of “Mad Money” with Jim Cramer offers a whirlwind tour of Wall Street’s erratic landscape as the market heads into a heavy stretch of earnings season. With sharp, unsparing opinions, Cramer delivers actionable insights into sectors from housing to tech, evaluates key earnings reports, diagnoses speculative stock pitfalls, and puts listeners’ portfolios through his famous “Am I Diversified?” test. His mission, as always: to help everyday investors navigate the jungle of Wall Street—and ultimately, make money.

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Key Discussion Points & Insights

1. Market Volatility and Sector Rotation

Timestamp: [01:40] - [03:20]

• The market is "conscious, meandering, erratic," with fickle swings between banks, tech, and small caps, especially those associated with hype themes like nuclear, quantum, and crypto.
• Cramer stresses the "magical investing" of buying any small-cap related to a hot sector, though he cautions: the averages hide this volatility.
• “Just make sure though…it was called nuclear power or space travel or quantum computing or crypto. As long as it had that in the title, it made you money once again.” ([01:56])

2. Next Week’s Earnings Preview – The ‘Game Plan’

Timestamp: [03:20] - [09:25]

• Homebuilders & Housing: D.R. Horton reports. Homebuilders have disappointed, but there’s optimism as prices and mortgage rates drop. Potential Biden plan to let 401k funds be used for home buying could be a catalyst.

• 3M: CEO Bill Brown has made the company "far more nimble," earning Cramer’s admiration. "I like Bill Brown ahead of many other CEOs." ([04:49])

• Netflix: Anticipated as a treatise on why it "needs Warner Brothers Discovery," with Paramount in the mix—drama in media mergers.

• Big 5 Travel Stocks: United Airlines, Delta, AmEx, Booking, Marriott—Cramer’s bullish on ‘travel never left us’ and sees these stocks as moving in tandem.

• Johnson & Johnson & Charles Schwab: J&J now purely pharma; Cramer admits selling too soon due to lawsuit fears. Schwab, Robinhood, and Morgan Stanley are “the three biggest beneficiaries of my aging generation.” ([06:32])

• Inflation, Procter & Gamble, GE Aerospace, Freeport McMoRan, Intel, Capital One, Intuitive Surgical, McCormick, Schlumberger (SLB):

  • PCE inflation data on deck.
  • P&G seen as a bounce-back play; GE Aerospace should be "spectacular."
  • Intel recovery praised but cautioned about overhyped earnings.
  • Capital One and bank stocks rebounding post-political pressure on rates.
  • Intuitive Surgical expected to beat, but competition looms.
  • McCormick’s growth in question; Packaged foods dubbed "the new coal."
  • SLB faces headwinds with low crude prices.

• Cramer’s Bottom Line:
  “This second week of earnings season, as light as next week is heavy except for a couple of cases, I think it’s best to keep your bat on your shoulder and hope for a better set of pitches.” ([08:40])

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3. Lightning Round: Stock Q&A

Timestamp: [09:29] - [12:54]

• Reddit (RDDT):
  • Caller worried over volatility; Cramer bullish despite the "jumping bean" action:
    “I go over a couple of stocks that I think could be future winners and I include Reddit. So I'm not backing down.” ([10:02])
• Lam Research (LRCX):
  • Parabolic move makes Cramer cautious:
    “If you want 100 shares, you buy 25. But then you must wait for it to come down.” ([10:52])
• Company with “wide moat”/no earnings (BA, likely Boeing or another):
  • “This is a cash flow story, not an earnings story…the cash flow here is bountiful. We own it for the trust. I insist that you continue to own it.” ([11:52])

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4. Deep Dive: J.B. Hunt Earnings & Freight Market

Timestamp: [14:49] - [20:27]

• J.B. Hunt Transportation Services posted strong EPS (up 24% YoY), but all growth comes from cost-cutting and buybacks—no real demand recovery.
• CEO Shelley Simpson describes the freight market as “fragile,” with supply exiting but weak demand:
  “As we move into 2026, the freight market feels fragile.” ([15:46])
• If demand picks up even slightly, pricing could spike. But:
  “We’re not holding our breath.” ([17:30])
• Stock's rich valuation “tough to justify” without stronger freight recovery.

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5. Case Study: How Speculation Can Go Wrong—Aquestive Therapeutics

Timestamp: [22:18] - [28:29]

• “When you speculate on drug stocks, they can easily blow up in your face.” ([22:22])
• Aquestive’s dissolvable epinephrine strip candidate (Anifil) received a vague FDA deficiency letter, triggering a >50% weekly collapse.
• Cramer outlines the lesson:
  “If you don’t already own it, there’s no reason to stick your neck out and buy some.” And warns about ambiguous regulatory setbacks.
• “Bottom line: You need to understand the risk when you’re buying a speculative stock.” ([27:56])

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6. Caller Q&A: Dividend, Pharma, & Portfolio Advice

Timestamp: [28:30] - [38:04]

• UnitedHealth (UNH): Prefer CVS instead for better value and yield; “Let’s buy CVS, not UnitedHealth.” ([28:43])

• GE HealthCare: Advises selling and preferring Medtronic or Abbott (wait for earnings).

• Crinetics (CRNX): Deemed a “better spec than Aquestive” with major-firm backing.

• Portfolio Diversification – “Am I Diversified?” Segment:
  Multiple callers present 5-stock portfolios; Cramer judges them, pointing out sector overlaps or weaknesses and suggesting substitutions (often recommends J&J for healthcare exposure).

  • “Simon Properties...these are really fantastic... VICI is the one I'm worried about. They're a REIT that I don't like the properties of.” ([32:37])
  • “Semiconductor, transport, retail, tobacco...fantastic.” ([34:48])
  • “If you want to own medical device, Medtronic. Or Abbott.” ([29:28])

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7. Lightning Round – Rapid-Fire Stock Opinions

Timestamp: [38:11] - [42:59]

• Oscar Health: Cramer approves due to Mark Bertolini’s leadership.
• Supermicro (SMCI): Advises moving on, Nvidia preferred in that space.
• Alkermes: Not recommended, “should have happened much better there than it has.”
• Huntington National Bank: “Always come through. They’re terrific. Also like Key.”
• UiPath: CEO praised, upside seen after pullback.
• Smith & Nephew: Sell—medical device sector too commoditized.
• Medline: “Unbelievable…that’s nine buys.”
• STM (STMicroelectronics): “Cheap…would be a buyer.”
• Constellation Energy: Advises moving on due to political uncertainty.
  • “When the President gets involved, it's too uncertain. You've got a really big gain… it's time to move on.” ([42:42])

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8. Semiconductor Shortages & U.S. Manufacturing – The Micron $100B Plant

Timestamp: [44:11] - [47:59]

• Micron breaks ground on a $100 billion chip facility in New York thanks to the CHIPS Act—seen as critical, with demand for low-end chips surging due to data center expansion.
• “There's a triad of semiconductor capital equipment makers… Applied Materials…KLA…Lam Research…their stocks are incredibly strong.” ([45:38])
• Cramer lauds Nvidia’s CEO Jensen Huang’s foresight; the only one to ‘see it coming.’
• “Can these stocks keep going higher? The answer is yes, in large part because we don’t have enough equipment to expand production of these chips.” ([46:51])
• CHIPS Act deemed crucial for U.S. competitiveness.

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Notable Quotes & Memorable Moments

• "Other people make friends. I'm just trying to make a little bit of money. My job is not just to entertain, but it's also to teach." – Jim Cramer ([01:40])
• "I'm a big believer in the travel theme. From the end of COVID until today, I think it has never left us." ([05:15])
• "I regretted listening to the Searcy sirens" — on selling J&J ([06:09])
• “This company (J.B. Hunt) is the market leader, so it can do things to take share from competitors…everyone else just has to cope with a bad environment.” ([18:54])
• “If you want 100 shares, you buy 25. But then you must wait for it to come down.” – On buying parabolic stocks, e.g., Lam Research ([10:52])
• “I want to make sure you’re taking advantage of…a great rotation. That’s why we’re playing the latest round of ‘Am I Diversified?’” ([31:58])
• "Nobody saw it coming…I'm talking about the severe shortages of all sorts of lower end semiconductors that go into a data center." ([44:11])
• “It's always bull market somewhere, I promise to find it just for you.” ([47:56])

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Important Timestamps

• [01:40] Start, Jim Cramer’s introduction and market commentary
• [03:20] Next week’s earnings game plan
• [09:29] Lightning Round – Callers with stock questions
• [14:49] In-depth analysis: J.B. Hunt earnings and outlook
• [20:38] Breaking down Aquestive Therapeutics’ collapse
• [28:30] Dividend/discussion and portfolio Q&A
• [31:58] “Am I Diversified?” segment
• [38:11] Lightning Round: rapid-fire stock questions
• [44:11] Semiconductor shortages and Micron’s $100 billion plant

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Episode Flow & Tone

Jim Cramer’s style is forthright, energetic, and didactic. He combines personal anecdotes, regret (as with selling J&J), and repeated themes (like the importance of keeping portfolio speculation in check). Callers and portfolio reviews add interactive energy and real-world context, while Cramer’s deep dives into earnings and sectors deliver analysis with both skepticism (on speculative stocks) and excitement (on trends like semiconductors and travel).

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For Listeners Who Missed the Episode

This episode is a vivid snapshot of a turbulent market week, with Jim Cramer’s unfiltered take on upcoming earnings, recent sector rallies, and pitfalls in speculative stock plays. His practical advice on portfolio makeup, sector rotation, and specific stock calls is balanced by real caution (notably regarding biotech speculation and overheated stocks). The episode is packed with actionable observations, candid takes on management, and a focus on positioning for the next phase of a choppy market.

Transcript

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[Jim Cramer]

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramerica. Other people make friends. I'm just trying to make a little bit of money. My job is not just entertain, but it's also to teach. So call me at 1-800-743-CNBC or tweet me Jim Cramer. This market is conscious, meandering, it's erratic. It hates the banks. One day likes the banks, another despises big tech one day favor small tech, the other passing on semis. Except the ones with the least intellectual property, not like an Nvidia like in Sanders. And yes, this was a week of magical investing where you buy any crazy new small cap thing and you turned out to be making a lot of money. Just make sure though it had to, it was called nuclear power or space travel or quantum computing or crypto. As long as that in the title, it made you money once again. The averages tell you none of this. Dow dipping 83 points, S&P sliding point 06% and the Nasdaq inching down.06%. The indices just percolate along again, punctuated by bursts of small cap buying. So what will next week bring? Well, why don't we go to our game plan to find out? Now, Monday is Martin Luther King Day. Okay? That's a day dedicated to service. Everything's closed. But Tuesday, we're right back in the earnings suit. Dr. Horton, the giant homebuilder, puts its numbers up. And so far, the homebuilders I look to call them disappointing is too positive. That's the bad news, though. The good news is that we're beginning to see green shoots in the housing sector. Pricing has come down. Mortgage rates have come down. There's even talk about allowing you to use your 401k to buy a home without paying any kind of penalty. All right, that's up to the president. We'll see how serious he is about this potentially groundbreaking plan. It would certainly send the stock of Dr. Horton much higher, along with the rest of the homebuilders. 3M also reports in this conglomerate has been quietly surprising people lately. CEO Bill Brown, formerly of L3Harris, has been putting his stamp on the company ever since he took over CEO about two years ago. Known as a vicious competitor, he's made the company far more nimble. I like 3M ahead of the quarter. I like Bill Brown ahead, ahead of many other CEOs at the close. We get results from Netflix. I expect the treatise on why the company needs Warner Brothers Discovery, the object of his affection, and is willing to pay a fortune to get it. How big a fortune will it be? I think that's going to be determined by opponent Paramount Skydance, which also wants the property Paramount. By the way, we just paid $34. This whole saga would end next. I'm a big believer in the travel theme. From the end of COVID until today, I think it has never left us. Remember what I always say, that we are long on money and short on time, which is why I would buy United Airlines ahead of the quarter along with Delta, American Express, Booking holdings and Marriott. Those are what I'm going to start talking next week. And we call it the Big Five Travel. They tend to trade all together and they are all terrific. Wednesday morning brings two stocks that are hard to keep down. Johnson and Johnson and Charles Schwab. JJ has become a pure play on pharma by spinning off its orthopedics division. That's smart because orthopedics happens to be a commoditized business. Meanwhile, its pharma business has some of the best drugs in the pipe and they really shine without the knee, hip and joint business holding them back. JJ still has a talc overhang of people willing to sue the company for all sorts of cancers allegedly caused by asbestos, mineral baby powder. Now, I'm not saying these lawsuits don't matter. That would be heartless. I am saying that they no longer matter to the stock now that JJ is fighting each individual claim, which can be daunting to the plaintiffs bar. I was intimidated by the lawsuits myself and sold it for the investing club. That was wrong. I regret listening to the Searcy sirens. How about Charles Schwab? This has become the repository of a big chunk of gigantic pool of money that's flowing in from baby boomers to the Alphabet. Generations tend to be something like $100 trillion. That's a wall of money that I discuss in how to make money in any market. I think Morgan Stanley through E Trade. What good quarter, by the way. Yesterday, Robinhood and Schwab are the three biggest beneficiaries of my aging generation. Thursday morning we get the latest reading from the PC price index. Now that's a key inflation gauge and I think it'll show a restrained set of numbers. We will have to endure endless Fed commentary. Save it. Trump's going to pick someone to be Fed chair who will ram through cuts. That's all you need to know. Procter and Gamble reports on Thursday. Listen to me. I don't expect any fireworks or anything really good out of the company that's had to preannounce a number of negative factors ahead of the quarter. So why the heck do we own Proctor for the charitable trust? Because it has a new CEO? Because everyone knows the brands are tremendous. Most of all because the stock's down so much that I know it can bounce, especially with that near 3% yield. I'll explain more after the quarter when we hold our monthly investing club for the conference for the club. This is Thursday at noon. We do a club call every single month. I don't want you to miss it. I think we do more teaching in that than we do anywhere else. Another Cramer fab. GE Aerospace also reports that morning, and given all the backlog of planes, I can't imagine it will be anything other than spectacular. And I don't think that spectacular is too positive a word for a company that's captained by the great Larry Culp. I don't know if you saw him. We were up at Harvard Business School. I think he's tremendous. Now we know copper and gold have been red hot, so I have to believe that Freeport McMurray, a copper and gold producer, will get its fair share of money coming in. I like gold and I think that even up here it can still be bought. As for copper, it's a little pricey, but it is needed in the data center look. It's a 2 for 10 second though. Has tended to go down after reports after close intel reports. This stock's been flying ever since Lip Bhutan came in as CEO. Under his leadership, intel started to reclaim the mantle of America's best semiconductor manufacturer. Made in America. Of course, given how competitive that world is, Intel's actual earnings may not be big enough after this run. You know what? Let's give this one a rest, okay? We also get results from a company we own for the Chabell Trust called Capital One Financial. You've probably seen their ads. Capital One's the giant credit card issuer that's got hammer. When the President suggested earlier this week a temporary cap on credit card interest rates. I know that was last weekend. I get where he's coming from. Okay. But if you cap those rates, most Americans simply won't be able to qualify for a credit card. These companies would rather stop lending than just lend at a loss member. It's unsecured debt. I think the President's moved on to the next issue. Which is why the banks are rallying again. Capital One's going up with them. The company has plenty of cash. I hope it'll talk about its humongous buyback on its conference call. We also want a game plan about what it's going to do with its Discover credit card network. That could be gigantic. But it hasn't told us enough yet. What else? I think that the loan surprise blowout next week will come from Intuitive Surgical, which had a monster quarter last time. But I bet that the numbers still aren't high enough. That means that the estimates can go higher one day. These upside surprises will come to an end I think as competition Medtronic may matter. Even JJ once in this. Yet the food stocks have been miserable. But one that still has a premium multiple because of its impressive growth from yesteryear is McCormick. We're going to look. You know what? We have to see if that can stick. Now. I like this stock. Before when the growth was from overseas, I. I frankly don't know if it's capable of really beating the numbers anymore though. The packaged food business. I'm calling it the new coal in this market. Lots of people have been loving SLB of late. That's the old slumber shape. They're seeing potential contracts in Venezuela for this oil service coming. I just look at the price of crude though below $60 a barrel. I think that it's very hard for SB to deliver special numbers when it reports on Friday. So here's the bottom line. It's an awfully odd week. This second week of earnings season as light as the next week is heavy except for a couple of cases. I think it's best to keep your bat on your shoulder and hope for a better set of pitches. Let's go to Jerry in Missouri, please. Jerry.

[Caller]

Thank you. My call.

[Jim Cramer]

Thank you, Jerry.

[Caller]

Jim, this stock's shares are extremely volatile and have had over 60 moves greater than 5% over the last year. The company's PE is currently over 100. I did take some profits three days ago after Evercore initiated coverage with a $320 price target. But then yesterday it dropped 10% after report from RBC regarding its advertising. I'm still up over 50% overall. Should I be worried about Reddit?

[Jim Cramer]

Holy cow. You know what I was trying to think which one, which one? Which one? Because I've been watching a jumping bean and it worries me that it's so erratic. It's almost like there's not enough float. But. But I'll tell you the truth and how to make money in any market. I go over a couple of stocks that I think could be future winners and I include Reddit. So I'm not backing down. I like the company. Reddit right here. Let's go to Larry in California.

[Caller]

Larry Reverend Jim Bob from the Church of what's happening now? That's the way the late Mark Haynes used to introduce you in the 90s, and I've been listening to you ever since.

[Jim Cramer]

Thank you. And I miss. I miss him. That's what it was. Reverend Jim Bob what's happening?

[Caller]

Jim My stock is Lam Research. This stock has gone parabolic since September from the low 90s all the way up to over 220.

[Jim Cramer]

Yes.

[Caller]

Is it more room for this stock to go or we reach the top?

[Jim Cramer]

Do you know that that's got one great CEO in Tim Archer? And I am concerned. Tim was so Scott, he was so good. When I sat down and he came on the show, he told a great story. I'm not going to be against it. I actually think that you can buy some. But the market is very overbought by the oscillator that I use, S and P. If you want 100 shares, you buy 25. But then you must wait for it to come down. I can't countenance continue to buy a parabolic move even for the best of the best. And that is the best of the best. Can't in California. Can't.

[Caller]

Hey, Jim, It's a pleasure to speak with you. Thanks for taking my call.

[Jim Cramer]

Of course. Thank you.

[Caller]

I like, I like to buy shares in companies that are essential to the economy and have a wide moat. For the last eight months, I've been holding my nose and buying BA BA is making a big run now, but it's got no earnings. And the genuine earnings report comes out on January 27th.

[Jim Cramer]

Okay, okay. So we have to understand this, Ken. This is a cash flow story, not an earnings story. The cash flow here is bountiful. We own it. For the trust, I insist that you continue to own it. I think that Kelly Ortberg is turning the corner. It's my favorite stock in the Chabel Trust. It's up 14% for the year. Booyah. We'll get a wave of earnings next week, but aside from a couple of cases, I think it really is best to keep your battle on the shoulders. Wait for a better pitch from this market. Not much. Slim pickings for next week on MAN Monday. Tonight, speaking of earnings, JP Hunt's numbers just crossed the tape last night and I'm trucking through the results to see where things stand in the freight market. Then what the heck happened to a quest of therapeutics? This week I'm going to break down what's behind the stock's hideous decline. I know you called about it. We're going to keep telling you. And why it's moving lower and a painful reminder of those chasing speculative stocks. And please don't miss the latest round of America's favorite game. That's called Am I Diversified? Where I survey your portfolio to see if it passes the test. So stay with Kramer.

[Commercial Announcer]

Don't miss a second of Mad Money. Follow imkramer on X. Have a question? Tweet Kramer Madmentions. Send Jim an email to madmoneynbc.com or give us a call at 1-800-743-CNBC. Missed something? Head to madmoney.cnbc.com this segment is brought to you by guilt. If you're a business owner wondering whether your CPA is just filing forms instead of helping you use taxes strategically, GHELT was built for you. Their expert CPAs and innovative AI tools help optimize entity structure, deductions and retirement contributions with proactive year round tax planning. SiriusXM listeners receive 10% off their first year of service when they sign up. Visit joingelt.com to schedule a discovery call. That's joing. Join gelt.com this episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and [e-mail] MarketUpdatePodcast or find Schwab Market Update. Wherever you get your podcasts, CIDP can make your daily routine feel not so routine. The good news? With a self injection for chronic inflammatory demyelinating polyneuropathy, you have the option to treat at home. Discover more at cidpselfinjection. Com and talk to your doctor. That's CIDP self injection.com brought to you by Argenics.

[Jim Cramer]

Last night we got earnings from J.B. hunt Transportation Services, the trucking company with a stock that has shot up more than 50% since September. Over the past few months we've seen some big moves from these transports. It's almost like we felt like there was a coming out of the molier flow rate recession happening. So is that what is occurring? Well, technically when JB Hunt reported, the numbers were indeed mixed. Nice earnings beat paired with a small revenue miss. And most of the earnings beat came from cost cuts. If you were hoping for a strong recovery in the freight business, well, this definitely wasn't it. Now when you drill down, JB Hunt saw declines in revenue per load for both its intermodal and truckload segments. There was decline in trucks for its dedicated contract services business, and low volumes were down for its freight brokerage and intermodal units. All of these divisions beat revenue expectations except for dedicated contract services which came in pretty light. Still, JP Hunt managed to deliver solid earnings be it all together thanks to its cost cutting efforts. Throw in its $923 million in buybacks this year. That's a significant amount for this sub $20 billion company. And its earnings per share grew by 24% year over year. Remember, this is an incredibly well run trucking company, so overall JB Hunt had pretty solid numbers. I'm not going to SCOFF at nearly 25% earnings per share growth, even if it is from cost cuts and buyback. Unfortunately, what we did not get from JB Hunt was any real sign that the freight market's making an actual comeback. These guys were downright Saturn on the cops call last night. CEO Shelley Simpson began with a bit of a retrospective on 2025. She explained that J.B. hunt entered last year with a lot of optimism for improvement in the market the end of the freight recession, but quote when the external environment shifted, end quote, meaning that when the tariffs hit, the company had to change. The strategy focused on execution and cost controls. When the conversation turned to the state of the freight market and the outlook for 2026, I was a bit disappointed. Simpson said. I'm going to quote here. As we move into 2026, the freight market feels fragile, end quote. That's one of those words you never want to hear in a conference called Fragile. She went on to explain that, quote, capacity continues to exit the truckload market. We are testing the elasticity of supply and quote, unquote. Now, without much optimism about the broad market recovery, Simpson said that JB Hunt will focus on execution and cost controls. I just like, just like last year, I'm going to call Simpson wary. After some long winded prepared remarks from the heads of the company's various units. I tell the truth here, a lot of heads. We got to the Q and A portion of the conference call where the very first question was about Simpson's classification of the freight market as fragile. Her answer in the Q and A section was more constructive. She said she was referring mostly to the supply side of the market. A lot of supply has left the trucking market in these past few years and that's not likely to come back. And with so much supply now out of the market, she thinks that even, quote, just a little bit of an uptick in demand and could cause much better pricing dynamics for trucking companies, that kind of fragility would be very good for Hunt. I started thinking that's why the stock's been going higher. But even Simpson's more constructive answer was filled with caveats. She called customer demand mix. And she said the customers always tend to be more optimistic, but Champion tends to, quote, be a little more realistic and a little more wait and see, end quote. And after explaining that the lack of supply should cause better pricing with just a little more demand. So far, so good. Simpson then quickly added, quote, we're not holding our breath and quote, what a killjoy. In other words, when the freight market turns around, JB Hunt should be able to make a fortune. But we're clearly not there yet. Management doesn't seem to know how long it will take in terms of the market's reaction. Wall street didn't really know what to do with that. Update from JP Hunt. Initially, the stock pulled back in after hours trading last night. Immediately after the quarter was published, shares fell more than 6% and they were down in pre market trading today, opening down over 3%. But the stock quickly recovered over the after the opening, briefly Turning positive at a couple of points today, then ending the day slightly in the red, down about 1%. Overall, I think this was a fine quarter for JB Hunt, if not the rest of the industry. Copy strategy for Lean Freight Market is clearly working pretty well, and everything they're doing right now will put the company in a strong position when the freight market recovers. That said, after the stock's recent run, JB Hunt stock now feels pretty darn expensive, trading at over 27 times this year's earnings estimates. That's like the same price earnings multiple, as in video. As long as management isn't saying anything particularly encouraging about the freight business, it's tough to justify paying 27 times earnings for this thing if you don't know what the price earnings multiple is. Massage the chapter in my book. More important, this quarter was definitely not positive for the rest of the trucking space. As J.P. hunt sees it, the demand situation leaves a lot to be desired. This company is the market leader, so it can do things to take share from its competitors when the market's weak, but everybody else just has to cope with a bad environment. Hey, by the way, speaking of competitors, just this morning FedEx filed its Form 10 registration statement for its previously announced freight spinoff now that starts trading independently at the beginning of June. This deserves a lot of attention, people, because it's certainly more than I can give you right now. But let me just say the FedEx freight could be a very compelling piece of paper if it gets spun off at a reasonable price. And by the way, they seem like very upbeat people. Here's the bottom line. I was watching the JP Hunt earnings, remember the top dog and last night to see if there was a recent rally in the trucking stocks and whether it could be justified by newfound strength in the freight market. But while we got a lot of reasons to like J.B. hunt, we got very few reasons to feel good about freight in general. They have money back after the break.

[Commercial Announcer]

Coming up, despite the great week for healthcare stocks, one pharmaceutical spec is heading the wrong way. Kramer's diagnosing what's gone wrong for a questive.

[Jim Cramer]

Next. Hey, Fidelity. How can I remember to invest every month? With the Fidelity app, you can choose a schedule and set up recurring investments in stocks and ETFs. Huh, that sounds easier than I thought. You got this?

[Commercial Announcer]

Yeah, I do.

[Jim Cramer]

Now, where did I put my keys? You will find them where you left them.

[Commercial Announcer]

Investing involves risk, including risk of loss. Fidelity Brokerage Services LLC Member nyse, SIPC.

[Jim Cramer]

Thy ticket lady Jennifer of Coolidge well, many thanks, good sir. Here is my Discover card. They accept Discover at Renaissance fairs? Yeah, they do here. Discover is accepted at the places I love to shop. Get it with the times. With the times. You're playing the loot. Yeah, and it sounds pretty good, right? Discover is accepted at 99% of places that take credit cards nationwide, based on the February 2025 Nielsen report.

[Commercial Announcer]

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[Jim Cramer]

This was a little complicated. You know how much I love the viewers we got to do this this week. We've heard a lot of great stories from big pharma, but I want to remind you that when you speculate on drug stocks, it can easily blow up in your face. As much as I believe in using part of your portfolio speculation, you know, I say that and how to make money. And in any market, it is very risky. And that's why so few experts are willing to endorse it. And for the sake of honesty, we need to cover our speculative losers as well as our winners. Which brings me to a question of therapeutics. It's a biopharma company that came up with a new delivery mechanism for epinephrine. It's a dissolvable strip to just put in your mouth to deal with a severe allergic reaction rather than stabbing yourself with an EpiPen. I first heard this one back in September when I got a call during the lightning round. A week later, I gave the stock my blessing. A quest. It was waiting for FDA approval on this FNF strip. It's called Anafilm. And I told you I thought it was worth taking a chance on, but only with money you could. You could afford to lose. I just thought it seemed like a really great idea. A week later, the CEO came on the show and he was very enthusiastic, of course, about Anaphyl's prospects, arguing that it had the potential to become a blockbuster drug. I agreed. Now, last Friday, a question got slapped down by the FDA and the stock price plunged 37% in a single session for losing another 15% this week. So if you owned it, you did get hammered. Initially this one was a winner. Equestrian was trading just below $5 back then. It climbed as high as $7.55 last October for pulling back and stabilized around $6. But after this meltdown is trading at just 3 bucks and change. So what went wrong here? And something did go wrong wrong. Okay. Last Friday a Questive announced that it had received a letter from the FDA where the regulators, quote, identified deficiencies, end quote in the company's new drug application for Anifil. The FDA says these deficiencies, quote, preclude discussion of labeling and post marketing commitments at this time, end quote. Oddly, in a comment included with the announcement a question, CEO Dan Barber noted that the FDA letter did not specify the deficiencies, which I got to believe makes them harder to trash, don't you? Still, Barbara said that, quote, that Antiquest is quote working to understand and resolve the concerns and he expressed confidence that Anafilm would still be approved. So I think this whole thing's a little bewildering. For some additional context, I want to quote, sell side research from Luring partners who specializes in health care and noted that this type of notification from the FDA quote, historically has been a significant speed bump for other biotechs seeking FDA approvals, end quote adding quote we do think this news brings an increased likelihood for a delay and or complete response letter for Anafil Manquote by the way, a complete response letter is real bad. That's when the FDA sends you what they when they reject your drug application. Explain the reasons for the decision. The Larynx analyst went on though, and said the road ahead for the company will largely depend on the nature of the FDA's deficiencies, how quickly a QST can address them, and how much it might cost. And the tricky part is that the company claims they don't even know what the deficiencies are. That's going to make it pretty hard to address the decision date set by the end of the month, don't you think? At this point, the stock's nearly been cut in half for the week since the news broke, Many investors simply aren't interested in waiting to see what happens next. But how you should be thinking about a quest of now that the stock's been obliterated and we have reason to believe they might struggle to get the big drug candidate approved. This is the question. First, despite the ambiguous slap down from the fda, a quest to maintains that all of its engagement with the FDA has been, quote, highly collaborative and quote and the macro said that they that since they received the letter, the FDA has repeatedly said the view of Anaphilm remains ongoing. These guys still sound really confident about their drug and their ability to get it approved both here and overseas. And at this point I'm not sure if they deserve the benefit of the doubt. But it's worth keeping in mind. On top of that, Equestrim did the secondary offering in August, selling 21.25 million shares at $4 to raise $85 million. Now that's one of the reasons why I was willing to recommend the stock for speculation in September. These early stage biotechs often have to raise money by selling stock, something that can hammer the share price. So I liked that the big secondary offering had already happened. See, it wasn't in front of us, but it was, it was in front of us. I'd be very worried. Equestrian ended up finishing 2025 with $120 million in cash and equivalents, which they say is enough to get them through the approval process and then launch the drug here in America. I thought that was somewhat encouraging. So they can still get FDA approval for this thing. Ultimately, if you got stuck with this big loss in Equesta, I wouldn't be looking to sell it down here after the big move lower because there's still some hope remaining that Anafilm could, could be approved by the fda, not to mention possible approvals overseas. But I have, I have, I obviously, I mean, I have far less confidence than I have before. So if you don't already own it, there's no reason to stick your neck out and buy some. What bothers me the most about this whole situation is the ambiguous nature of it. When the FDA tells you that they can't go ahead with the approval process until you fix your new drug application, but then they don't tell you what's wrong with a new drug application, doesn't that feel fishy to you? This drug was fast tracked by the FDA and then they waived the usual advisory committee meeting, so it looked like it had a real high chance of being approved. That's what I was buying into. Besides, at this point, it's been a week since they got the letter. Does management still not know what the problem is? If they don't, that worries me. Now, more broadly speaking, this is also a really important lesson about the dangers of speculation. A painful lesson. Bottom line, you need to understand the risk when you're buying a speculative stock. And, and if you decide that you're not okay in a situation that can end up like a quested I steering towards many of the large cap pharma companies that I spoke with earlier this week at the J.P. morgan Health Care conference. Those stocks offer less potential upside, at least in the near term, but they're not going to get cut in half over the course of a week thanks to a single decision from the fda. Let's take some calls on what I think is a discouraging situation. Let's talk to Harrison in California. Harrison. Hi, Jim.

[Caller]

Happy Friday. I'm a big and I just started reading your book. I'm calling in today about an excellent dividend growth stock that has gotten hammered in the last year. What are your thoughts on UnitedHealth ticker? Unh.

[Jim Cramer]

Well, first, thank you for buying how to Make Money in Any Market. I would greatly appreciate that. I think UNH is low enough you want to buy it. But you know what came down today that has a better yield I think is really better. I think it's cvs. Remember, you get Aetna with that and you've got a situation where David Joiner has really cleaned up a lot of the problems. Let's buy CVS, not UnitedHealth. I need to go to David in California.

[Caller]

David, hi, Mr. Kramer. Thanks for taking my call.

[Jim Cramer]

You're quite welcome. Okay.

[Caller]

When GE split into three different companies, I got 83 shares of GE Healthcare.

[Jim Cramer]

Okay.

[Caller]

So my question is, with holding that small, would I be better off just selling it?

[Jim Cramer]

Okay. I worked for ge, so I got my lot to own stock. I want to make that point. But I got the same thing because I had worked for them before when they, they paid me with stock. I took a hard look at GE Health Care and decided that it didn't have anywhere near the. The things that were going from GE Vernova and GE Aerospace. And I think you should sell the stock. I just don't think it's what you want to own. If you want to own medical device, you want to own Medtronic. Okay, let's. Or Abbott. But Abbott reports next week, so why don't you wait to see how they do? Let's go to Rob in South Carolina. Rob.

[Caller]

Hi, Jim. This is Rob. Myrtle Beach.

[Jim Cramer]

How you been, buddy? Interesting.

[Caller]

Well, I tell you what, it's so cold out here, I should have stayed in Fairfield County.

[Jim Cramer]

No kidding.

[Caller]

Yeah. Yeah, it's cold. 30 degrees this morning when we woke up. Any of those woes? Jim, I'm interested in a pharmaceutical company. They're called Credit and the stock is CR Ed X.

[Jim Cramer]

Yes, I think that Goldman Sachs Just put out a buy recommendation on it. And I think that's a. That's a better spec than a question. That's the whole point. So you want something. At least a major firm has come out and said and vetted it. They have the money. I say go with CRNX. But it's $55 stock. See, it's not a little dollar stock. And people don't want to buy four to six dollars stocks. Don't think about whether the company's good, not whether the price is right. Okay, look, the price action in the quest of is a perfect lesson in the dangers that comes with speculative stocks. And if you want to invest in the health care space, let's stick with something really positive, like the companies that I spoke to last week. Well, I'll tell you, I really like CBS. I think that gentleman said UnitedHealth. Let's pivot to CBS. Good dividend, great management. All right, much more. It's Friday, which means we're going to play the latest round of my Diversified. More teaching coming up. The citizens of Crane America are sending me their portfolios, and I'm judging if they're diversified enough for this market. And Micron broke ground on its new facility in New York today. I'm telling you what it means, what it really means for the state of the semiconductor industry in America. Of course. All your calls, Rapid fire in tonight's edition of the Lightning Round. So stay with. All right. Lately, we've seen the market broaden out quite a bit so far in 2026, with previously unloved sectors catching a bid this year. And I want to make sure you're taking advantage of what I think is a great rotation. That's why tonight we're playing the latest round of my Diversified. Now, what do you do here? Okay, well, you call me, tell me your top five holdings. I tell you, if your portfolio is diversified now, maybe you got to mix it up a little. Let's start with David in Alabama. David, what do you got for me? Booyah.

[Caller]

Jim, longtime listener and investment club member. Appreciate you taking my call today. I'm.

[Jim Cramer]

Okay. Let's go.

[Caller]

All right, so first up, Jim, am I diversified? It is Amazon, Broadcom, Cheniere Energy, Simon Property Group, and B I C I.

[Jim Cramer]

Wow. Diversified. We may have to do some work anyway, just in terms of stock, I'm worried about, but okay. Shanier. That's looking financial. Gas. I love that. Simon Properties. We think David Simon's the best mall operator there is. These are really fantastic. Amazon, we know, is retail, but it's also tech and Broadcom is the. The company that makes the chip, by the way. They make the chip for. I don't know if you knew this for. For Google. They do a lot of other things too, but they're a tech company, mostly semis. Then Vici is the one I'm worried about. They're a REIT that I don't like the properties of. But. And we have two REITs. So let's get rid of Vici. I want to add J and J. We'll put that in there because you need a health care company and then you'll be fine. But that must be done. Okay. I wish it were earlier in the day because I want you to do that right now. And thank you for being a member of the club. And we'll see you at Thursday's meeting. Okay. Let's go to Betsy in California. Betsy.

[Caller]

Well, hey, Jim. And thank you so much for all your kindness throughout the years in dealing with us and being there for us. My five stocks are Boeing, Agnico, Eagle Mines, Morgan Stanley, Caterpillar and tsm. So tell me, Jim, am I diversified?

[Jim Cramer]

First, I want to thank you for those kind words, but that was really terrific. I hope I always live up to your standards. Okay. This is a terrific semiconductor manufacturing company. This is my favorite gold company. This is one of the best machinery companies in the world. This is my favorite arrow play. We own a big position in the Chapel Trust. And this is an amazing financial, financial arrow machinery, semi and gold. Bingo. Do nothing. I love it. Let's go to John in California. John.

[Caller]

Hi. Love your show.

[Jim Cramer]

Thank you.

[Caller]

Club member. Okay, so here are the companies. Philip Morris, Amazon, Nvidia, American Electric and Uber.

[Jim Cramer]

Let me go to work again. Thank you for being in the club. Don't forget Thursday meeting. Okay. Uber, we know is transport. Amazon, we're going to call it right now. We're going to call it retail. Stick with me. Philip Morris's tobacco, they also are anti tobacco. It's a really strange amalgam. Merkel electric power, one of my favorite utilities for multiple years. And Nvidia's tech. And I knew it was going to trade. I told old Jeff Marks was going to close down. When it was up a dollar and a half, they said, watch this, it's going to close down. It did. It closed down badly. Okay, so we have a semiconductor, we got transport, we got retail, we have tobacco and we have utility. Again, fantastic. Okay, now let's go to John. I know how to pronounce it. Louisiana. John.

[Caller]

Hi, Jim. My stocks are AbbVie, Honeywell, Energy Transfer, Banco Santander and Medtronic. Jim, am I diversified.

[Jim Cramer]

Oh wow, what a fantastic list. Okay, Medtronic we know is medical devices we know. Abbvie we're going to call that pharma. Okay. Energy Transfer is a high yielding pipeline company that I really like. Becky. I actually emailed Anna Boutine this morning urging her to come on the show. I recommended the stock at 3. It's a 12. That's great. And Honeywell is finally getting credit for all the things it's doing. Yes. So we have an aerospace going to use it as a breakup play. Aerospace and security play. We've got a bank, we've got a great pipeline company. We have medical device and we have drug. And I see nothing to do there other than keep it. Last but not least, we got Michael in Illinois. Michael.

[Caller]

Happy Friday, Professor Kramer.

[Jim Cramer]

Done your way.

[Caller]

Thank you for taking my call. Hey Jim, sorry about your Eagles getting clipped, but how about those Bears?

[Jim Cramer]

I like the Bears. Your coach is a leader of men.

[Caller]

Okay, you're welcome. Hey Jim, you're welcome to hop aboard our super bowl bound train through Santa Clara, California.

[Jim Cramer]

I was thinking about going just today I was thinking about going to the super bowl with Tim Cook, but that's what I did last year. He was in my box or I was in his box. Something.

[Caller]

Okay, great to hear it, Jim. Okay, Jim, Here are my 5 stocks. Apple, Aries Capital, Hershey, Kimberly Clark and Nvidia.

[Jim Cramer]

Wow. Okay, well you got some yield there. You got some growth. I don't like the Aries because I can't really tell what they own. So I want to be very careful there. So I'm going to get you out of that. I'm going to also put you in J and J. We have Hershey, obviously. We had Candy company. We've got what is the ultimate soft goods coming. I can't know if it's holding par that Shane and Dwarfs would give us for 100. Apple went over. That's terrific. Nvidia. I told Jeff More. I said it wasn't. I did that the last one. Okay, so semiconductor, I'm going to call it consumer electronics. Okay. There's nothing wrong with that but it's a tech company. I don't know tissue, chocolate, food. And then you discover of this and went to JJ and then you're fine. Please, I don't trust this one. I don't like the 9% yield. It makes me very, very nervous. All right, thank you everybody for sending in portfolios. Please make those changes as I advised on Monday at 9:30 because these are not things that can wait. Thank you for all the work that you guys did in calling me and thank you for the club members they have. Money's back into the break.

[Commercial Announcer]

Coming up, Kramer takes your calls and. And the sky's the limit. It's a fast fire lightning round.

[Jim Cramer]

Next. It is time. It's time for the white rap cruiser rap record the M stock 35. It's also Southern core stockhead. I tell my stampers of graphics. Why you playing this now? And then the lightning round is over. Are you ready, Steve? Dazzle Light. Okay. Of money. Let's start with Matthew in Georgia. Matthew.

[Caller]

Jim, I want to talk Oscar Health tech focused individualized health insurance provider for the ACA marketplace. With membership up close to 30% year over year and revenue growing over 20%. Jim, with a firm commitment from CEO Mark Battolini and with ACA subsidies likely getting extended and consumers to soon make their own decisions on health care provider, does Oscar finally have the set up for a breakout year?

[Jim Cramer]

I'm going to tell you the truth. If Bertolini were running that company, I would say but because he is and I like him a lot, I go that. All right, let's go to Linda in California. Linda. Hi, Mr. Kramer. Linda from California. Thank you so much. Thank you for calling. Absolutely. What's up? Oh yeah, I have a question about the stock SMCI sell. I don't need that. It's just, you know, Lynn, you got to move on. You want to own that area, you own Nvidia. Period. End of story. Let's go to Dante in Texas. Dante.

[Caller]

Good evening, Dr. Kramer.

[Jim Cramer]

Hi.

[Caller]

I'd like to hear your thoughts on Alkerme's pharmaceuticals.

[Jim Cramer]

By this point, something should have happened much better there than it has. I do not recommend the stock. I think it's hold maybe a weak one. Let's go to William in Ohio. William. Yeah, Jim.

[Caller]

What's your thoughts on Honeypin National Bank?

[Jim Cramer]

They always come through. They're terrific. I'm gonna give you a twofer. I also like key. They are terrific too. Let's go to Mark in New York. Mark.

[Caller]

Booyah, Jim, Booyah. I just want.

[Jim Cramer]

I just wanted to say that I.

[Caller]

Found your Goldman Sachs story very inspirational.

[Jim Cramer]

To never give up. Never. Oh my God. They rejected me so many times. I can't do it.

[Caller]

Didn't you have a similar story with.

[Jim Cramer]

Mark Haynes getting on cnbc? I really miss that was a very. That we were really at loggerheads. He didn't appreciate me. He didn't appreciate the negative stuff I was sending him. So he put me on and we became great friends. Thank you. What's up? I really miss those days. Okay. My stop was added to the Square S and P1000. The company had good earnings and a.

[Caller]

Nice pullback the the company's UI path.

[Jim Cramer]

Yeah, I think it's ready now. I think Dines is a very good CEO. I've waited and waited. You may have to wait a little bit longer. But I think the upside is what beckons there. Let's go to Gill in Texas.

[Caller]

Gil, Jim, I'm calling to get your opinion on Smith and Nephew. Since they've just.

[Jim Cramer]

They have to. They have to be sold. Okay. I just. This group, I do not like. Okay. I just don't like them because it's commoditized. All right. I remember I asked my wife, what knee she got a new knee. I said, who'd you use? Which one? She goes, it doesn't matter. And that's the answer. Let's go to Jack and Delaware Jack.

[Caller]

Big trusted. Booyah. Kim, thanks for taking my.

[Jim Cramer]

Very impressive. What's up?

[Caller]

My question is about Medline. I got in a 30 49.

[Jim Cramer]

All right. Let me tell you about Medline. That stock is unbelievable. I think it is a. That's nine buys. Just for the record, let's go to Johnny in Washington, Johnny Grammar Abuya from Tacoma, Washington. Well, you can't get better than that, can you? How can I help?

[Caller]

Hey, thanks for all you do, man. You're truly an inspiration.

[Jim Cramer]

Thank you.

[Caller]

My stock is stm.

[Jim Cramer]

It's cheap. It's good. Now people say it's cheap. What do you mean? Kramer's like 40 times versus the others with growth. It's actually okay. I would be a buyer of S Team Micro. Let's go to Mike in Illinois. Mike.

[Caller]

Hey, Jim. Mike, how you doing? Long time, no talk. Long time investor with you and in the club. Got you booked.

[Jim Cramer]

Great, thank you.

[Caller]

I put a position on the stock starting in May last year and it climbed, made quite a bit of money and did my snips and chips the way you told me to do that. But today Trump did a hit on it and the whole thing started to collapse. I decided to get out before the market closed. I had a big position because Constellation Energy decided to sell.

[Jim Cramer]

You know, it's funny, I couldn't tell you this Constellation of this trip. The fact is, is that when the President gets involved, it's too uncertain. You've got a really big gain in the stock and it's time to move on. We'll find other winners, I promise. And that lane job is conclusion of the Lightning Round.

[Commercial Announcer]

The Lightning Round is sponsored by Charles Schwab. Coming up. With demand surging through the roof, Kramer zeroing in on plans to expand semiconductor production in the US Next. Next week. Kick off the trading day with Squawk on the street live from post nine at the nyse.

[Jim Cramer]

We're going to get an ageism here. You know how old you're going to be? Shut up. Okay, so anyway, I mean, Dave, why don't we talk enterprise software? How bad is that?

[Commercial Announcer]

Anything to move on from your coming birthday.

[Jim Cramer]

That was. That was cool. Thank you. You want. Ow. Darn. Paper cut. Careful. That can be right there.

[Commercial Announcer]

It all starts at 9am Eastern.

[Jim Cramer]

Not many knew it would happen. It's almost like nobody saw it coming.

[Commercial Announcer]

Development.

[Jim Cramer]

I'm talking about the severe shortages of all sorts of lower end semiconductors that go into a data center, especially memory chips. Today Sanjay Marochi, the CEO of Micron, broke ground on $100 billion facility to make more chips in Onondaga County, New York, where you expect a big hub for semis. It's all part of the CHIPS act, that big subsidy for semiconductor manufacturing that was pushed through by the Biden administration. The CHiPs act money serves as a down payment for Micron's giant foundry and boy is it ever needed. We're in critical short supply for all sorts of chips that are needed in the data center. Chips that are adjacent to Nvidia, which had much more foresight than Micron or anybody else in the industry. So its products are more plentiful. It wasn't easy to forecast this boom, I admit. As recently as one year ago, there was a glut in the same kinds of chips that now we have a shortage in. Sanjay tamped down the possibility of a boom. Something I've been saying could happen. He chilled my enthusiasm. Now look, he's been bullish, but last year he was way too cautious. And you know what? His caution contributed to the memory shortage. So did the managements though of Sandisk, Western Digital and Seagate. They all make semiconductors that store data in a world where data is king. Their businesses have been in the doldrums for ages though. And then all of their products caught fire because of the data center rage. Their stocks have been flying because there simply aren't enough of these chips to go around. So what's going to happen? First, prices for these simple chips in flash memory, much less complex Than the graphics cards from Nvidia are still skyrocketing, causing lots of dislocation in the data center and most importantly, devices like this one. Okay. Including PCs. Second, the building of this plant could take years. It definitely won't address the shortage unless we get some weaker demand. And I don't see that happening. Prices will just keep going higher because only Jensen, Wang and Nvidia seem to appreciate the scale of the opportunity. Opportunity here. We've already had some shocking winners. Along with Micro, Micron stocks rallied up 27% for the year. For the year this January. Western Digital up 29%. Seagate up 18%. Sanders has gone positively parabolic. It's moved up 74% in just a little over two weeks. And remember, this is after these four stocks were the best performing names in the S&P 500 last year. All up more than 200%. You can make so much money in stocks if just have some foresight. Can these stocks keep going higher? The answer is yes, in large part because we don't have enough equipment to expand production of these chips and we can't put it together fast enough. There's a triad of semiconductor capital equipment makers that are every mine, every money manager knows. Talk about Applied Materials, A Mat Cala and Lamb Research. While they're not interchangeable, they are similar. And that $100 billion micron facility will be chock full of the hardware that these companies make. But they too misjudged the data center demand or else they would have built a lot more machinery. Their stocks are incredibly strong. Again, only in video really saw it coming. They teamed up with the best of the best. Taiwan Semiconductor to make all the high end chips that are needed. There's no bottleneck there. There's no shortage. At least not in comparison to memory. You want the latest and greatest from video? Well, you'll get it. Because Jensen Wong saw everything coming. The opposite of these companies. It's one of the reasons I think he's the greatest technologist of our era. So celebrate that Micron is building a big founder here. It has a long tradition of doing so. Sanjay has always preferred building in America. That's one of the reasons why I salute him. Without the chips act bonanza though, it probably wouldn't have happened again. I can't blame any of these management for not seeing the sales could explode. But I do think they had. If they had just listened to Jensen, we'd all be better off. I like to say it's always bull market summer, I promise. I find just for you here, man Money I'm Jim Kramer. I'll see you next time.

[Podcast Disclaimer Narrator]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, Internet or another medium. You should not treat any opinion expressed by Kramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Kramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or subscribers 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 madmoneydisclaimer you're listening with.

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