Mad Money w/ Jim Cramer – January 8, 2026

Podcast Summary

Episode Overview

Jim Cramer rings in 2026 with a fast-paced, candid breakdown of the current stock market environment, vital investing lessons, and forecasts for this year’s IPO market. He dives into strategies for avoiding high-risk mistakes, highlights promising (and cautionary) stock picks, and brings on energy expert Rusty Brazil to deliver the unvarnished facts about Venezuela’s oil potential. The episode concludes with an electrifying Lightning Round and a serious warning about the risks posed by massive IPOs looming on the horizon.
Tone: Energetic, direct, and educational, staying true to Cramer’s signature style.

Market Overview & Stock-Picking Wisdom

[03:13–10:00]

Being Selective in a Roaring Market:
Cramer opens by stressing the need for discernment, especially when markets are peaking. He warns against buying into stocks after huge moves (“a license to lose money”), citing examples like Seagate and Sandisk.
Patience Over FOMO:
He shares a common pitfall: buying near new highs, only to be left holding the bag when a dip inevitably comes.
- “Not coming in on a stock that’s already up 30 or 40% this year…instead, you have to accept that you missed it. Not easy.” – Jim Cramer [03:43]
Banking Sector Nuances:
Cramer discusses his caution on buying big banks (using JP Morgan as an example):
- “Even though CEO Jamie Dimon is a fantastic banker…he’s also a really cautious person. He’s not going to get on his conference call and crow that his stocks undervalued. He’s far more likely to talk about the potential landmines out there.” [04:40]
- He recalls Dimon’s “cockroach” warning from last quarter, when bad news led to a swift stock drop, and Cramer suggests waiting for post-earnings pessimism as a better entry point:
  - “Now that's when you want to buy: after he lowers the boom. Not up here.” [06:11]
Where to Hunt for Opportunities:
Cramer details his research process, from reviewing his Charitable Trust to watching for stocks far off their highs.
Specific Stock Highlights:
- CrowdStrike (CRWD):
  Praised by Nvidia’s Jensen Huang, recently well off highs. Cramer calls out the opportunity:
  - “When it trades like this, what do you have to do? You have to pounce.” [07:36]
- Microsoft (MSFT):
  Noted for long-term strength despite recent selloff – rare chance to buy below $500.
- Procter & Gamble (PG):
  A “complicated, unloved stock” with a stellar dividend record, on sale due to recent slump. Cramer recommends slow accumulation to capture value and compounding:
  - “You can’t just have all tech…the bottom line, what you really want are companies with stocks that allow you to take advantage of the magic of compounding and make longer term gains.” [09:32]

Lightning Round Highlights

[10:01–12:42] & [40:15–43:41]

Aerovironment (AVAV):
“The stock…is trading right now at 335…That's a terrific company. We have them all the time. All I can say is congratulations.” – Cramer to caller Mary [10:29]
Celsius (CELH):
“I think it could put 10 points on because the company’s doing quite well and it just closed that acquisition…They tell a great story.” [11:34]
Palo Alto Networks (PANW):
“Nikesh Arora does a great job…It's well off its high, I think it is a buy.” [40:37]
Roblox (RBLX):
“Very good company…people decided to pay too much for. Losing money, this market no longer wants it…a speculative position only.” [23:05]
Wingstop (WING):
“They missed a quarter and didn’t give a good explanation…can’t pound the table when we still have too high food inflation. So, I’m going to have to say no to Wingstop.” [43:18]
Other Mentions:
- Rambus (RMBS): Cramer still likes it for its growth and tech.
- Advice on young/inexperienced investors: Speculative names can be "blessed" for the young, but not ideal for older, risk-averse investors.

2025 IPO Market Recap & Outlook

[14:26–20:57]

2025 IPO Market Performance:
- 202 IPOs, $44B raised (contrast: $142B+ in 2021), with only 39% trading above IPO price.
- Standout winners (Carmen Space), but also ugly losers (Venture Global: -73%).
- Many large IPOs popped at debut and then crashed hard.
  - “The performance of the IPO class of 2025 was pretty lackluster. And you know what? I think that's actually a huge positive for the broader stock market.” [17:03]
Market Correction & Speculation:
- Cramer highlights the cyclical IPO market, froth, and overvaluation (e.g., Fermi, Figment), emphasizing the importance of valuation discipline and calling out past on-air gags (like smashing Fig Newtons for “insane” IPO activity).

2026: The Year of the Mega-IPO?

[22:49–32:52]

The Backlog and Big Four:
Cramer spotlights the enormous IPO backlog, calling out four possible “mega” offerings:
1. Databricks ([23:12])
  - Enterprise software, recently valued at $134B, likely a solid offering if priced right.
2. SpaceX ([24:15])
  - Most hyped, immense scale ($800B recent valuation), strong Starlink momentum, but Cramer cautions: “We don’t have an in depth view of the company’s financials yet…Is that enough to support an $800B valuation though?” [25:40]
3. Anthropic ([27:15])
  - Fast-growing AI company; Cramer likes the enterprise focus, but warns: “$350 billion, that's a monster valuation. At that level, the stock will be trading at 30 to 40 times this year’s sales. Not earnings, sales.” [29:25]
4. OpenAI ([30:00])
  - Possibly $830B valuation, burning huge cash, may prefer to stay private; “If OpenAI were to come public this year, it would be forced to open the kimono and show us its financial results. And I bet we see huge operating losses…” [30:53]
Historical Context:
- Cramer connects boom-bust IPO cycles from 2000 and 2021 with today’s environment, urging caution with new listings.

Venezuela Oil Deep Dive (with Rusty Brazil, RBN Energy)

[32:53–40:15]

Venezuela’s Real Oil Potential:
- Despite boasting the world's largest reserves “on paper,” Venezuela’s daily production has plummeted to just 900,000 barrels.
- Infrastructure is in “shambles,” and most refineries aren’t working; much investment would be needed before meaningful output.
  - Rusty Brazil: “In terms of production, it's only about 900,000 barrels a day, which is tiny...down from like 3 or 4 million barrels.” [33:10]
  - On infrastructure: “The majority of that infrastructure does not work. They're importing more product from the U.S. than was going to the U.S. from Venezuela.” [33:55]
Heavy Crude Challenges:
- Venezuela’s oil is “like tar or black molasses,” requiring special refining or upgrading, expensive for U.S. refiners.
Market Implications:
- Even aggressive ramp-up scenarios don’t threaten to “flood” the market; any increase would take years and wouldn’t swing global prices.
  - Rusty: “I think it’s going to be a long, long time before Venezuela floods the world.” [39:27]

Warning: IPO Supply Shock Ahead

[44:10–47:29]

Cramer’s Cautionary Outlook:
As exciting as Databricks, Anthropic, SpaceX, and OpenAI are, Cramer cautions that the sheer size of new supply may overwhelm market demand:
- “These are all much larger companies than we've ever dealt with…some may aim for $1 trillion valuation right out of the chute. It could be deadly for the rest of the stock market.” [44:20]
- “If we get three or four [mega-IPOs] close together...supply, that's excess stock, will overwhelm demand and the market will have to digest all this new stock. Can it? I think not.” [45:24]
- “Lots of other stocks will have to be sold so the potential buyers can raise the cash to participate in the big IPOs…this shift won’t happen for a while, but these megadeals are the biggest looming threat to the bull.” [46:22]
Historical Parallels:
He cautions this is “what happened in 2000, again in 2014, and...end of 2021,” leading to significant declines for existing portfolios.

Notable Quotes

“Not coming in on a stock that’s already up 30 or 40% this year…instead you have to accept that you missed it. Not easy.” – Jim Cramer [03:43]
“Now that's when you want to buy: after he lowers the boom. Not up here.” (On JP Morgan/Dimon’s caution) [06:11]
“When it trades like this, what do you have to do? You have to pounce.” (On CrowdStrike) [07:36]
“This year we’ve got the potential for as many as 4 mega IPOs...even one of them happens, it’ll be a huge deal. And if priced right, the first or second megadeal is the one you want…Any later than that and this market might begin to run out of money.” [32:26]
Rusty Brazil: “The majority of that infrastructure does not work. So they're importing more product from the United States than was going to the United States from Venezuela.” [33:55]
“If we get three or four [mega-IPOs] close together…that is a very different story…supply…will overwhelm demand…lots of other stocks will have to be sold so buyers can raise cash. That’s what happened in 2000, 2014, and 2021…” – Cramer [45:24]

Structurally Important Timestamps

[03:13] — Cramer’s core market risk lesson and bank sector deep dive
[07:36] — CrowdStrike and Microsoft value opportunities
[09:32] — Procter & Gamble as a “slow build” value pick
[14:26] — IPO market 2025 recap
[22:49] — 2026 IPO preview: Big Four
[32:53] — Venezuela oil supply: Rusty Brazil interview
[40:15] — Lightning Round rapid-fire stocks
[44:10] — Mega-IPO supply warning

Final Takeaways

Timing and selectivity are crucial in a buoyant market—don’t chase breakouts.
Look to buy quality stocks when they temporarily fall out of favor (CrowdStrike, Microsoft, Procter & Gamble).
The 2025 IPO market’s lackluster performance is, paradoxically, healthy.
2026 may bring “the year of the mega-IPO” with some of the largest deals ever, but this flood of new supply could destabilize stocks more broadly.
Venezuela’s oil comeback is overhyped—its battered infrastructure and tar-like crude won’t move the global supply needle for years.
Prepare for IPO-driven volatility and be ready to hold quality through the coming maelstrom.

In Cramer's words:
“There are bull markets somewhere—I promise to find them for you, right here on Mad Money.” [47:19]

Mad Money w/ Jim Cramer – January 8, 2026

Podcast Summary

Episode Overview

Market Overview & Stock-Picking Wisdom

[03:13–10:00]

Being Selective in a Roaring Market:
Cramer opens by stressing the need for discernment, especially when markets are peaking. He warns against buying into stocks after huge moves (“a license to lose money”), citing examples like Seagate and Sandisk.
Patience Over FOMO:
He shares a common pitfall: buying near new highs, only to be left holding the bag when a dip inevitably comes.
- “Not coming in on a stock that’s already up 30 or 40% this year…instead, you have to accept that you missed it. Not easy.” – Jim Cramer [03:43]
Banking Sector Nuances:
Cramer discusses his caution on buying big banks (using JP Morgan as an example):
- “Even though CEO Jamie Dimon is a fantastic banker…he’s also a really cautious person. He’s not going to get on his conference call and crow that his stocks undervalued. He’s far more likely to talk about the potential landmines out there.” [04:40]
- He recalls Dimon’s “cockroach” warning from last quarter, when bad news led to a swift stock drop, and Cramer suggests waiting for post-earnings pessimism as a better entry point:
  - “Now that's when you want to buy: after he lowers the boom. Not up here.” [06:11]
Where to Hunt for Opportunities:
Cramer details his research process, from reviewing his Charitable Trust to watching for stocks far off their highs.
Specific Stock Highlights:
- CrowdStrike (CRWD):
  Praised by Nvidia’s Jensen Huang, recently well off highs. Cramer calls out the opportunity:
  - “When it trades like this, what do you have to do? You have to pounce.” [07:36]
- Microsoft (MSFT):
  Noted for long-term strength despite recent selloff – rare chance to buy below $500.
- Procter & Gamble (PG):
  A “complicated, unloved stock” with a stellar dividend record, on sale due to recent slump. Cramer recommends slow accumulation to capture value and compounding:
  - “You can’t just have all tech…the bottom line, what you really want are companies with stocks that allow you to take advantage of the magic of compounding and make longer term gains.” [09:32]

Lightning Round Highlights

[10:01–12:42] & [40:15–43:41]

Aerovironment (AVAV):
“The stock…is trading right now at 335…That's a terrific company. We have them all the time. All I can say is congratulations.” – Cramer to caller Mary [10:29]
Celsius (CELH):
“I think it could put 10 points on because the company’s doing quite well and it just closed that acquisition…They tell a great story.” [11:34]
Palo Alto Networks (PANW):
“Nikesh Arora does a great job…It's well off its high, I think it is a buy.” [40:37]
Roblox (RBLX):
“Very good company…people decided to pay too much for. Losing money, this market no longer wants it…a speculative position only.” [23:05]
Wingstop (WING):
“They missed a quarter and didn’t give a good explanation…can’t pound the table when we still have too high food inflation. So, I’m going to have to say no to Wingstop.” [43:18]
Other Mentions:
- Rambus (RMBS): Cramer still likes it for its growth and tech.
- Advice on young/inexperienced investors: Speculative names can be "blessed" for the young, but not ideal for older, risk-averse investors.

2025 IPO Market Recap & Outlook

[14:26–20:57]

2025 IPO Market Performance:
- 202 IPOs, $44B raised (contrast: $142B+ in 2021), with only 39% trading above IPO price.
- Standout winners (Carmen Space), but also ugly losers (Venture Global: -73%).
- Many large IPOs popped at debut and then crashed hard.
  - “The performance of the IPO class of 2025 was pretty lackluster. And you know what? I think that's actually a huge positive for the broader stock market.” [17:03]
Market Correction & Speculation:
- Cramer highlights the cyclical IPO market, froth, and overvaluation (e.g., Fermi, Figment), emphasizing the importance of valuation discipline and calling out past on-air gags (like smashing Fig Newtons for “insane” IPO activity).

2026: The Year of the Mega-IPO?

[22:49–32:52]

The Backlog and Big Four:
Cramer spotlights the enormous IPO backlog, calling out four possible “mega” offerings:
1. Databricks ([23:12])
  - Enterprise software, recently valued at $134B, likely a solid offering if priced right.
2. SpaceX ([24:15])
  - Most hyped, immense scale ($800B recent valuation), strong Starlink momentum, but Cramer cautions: “We don’t have an in depth view of the company’s financials yet…Is that enough to support an $800B valuation though?” [25:40]
3. Anthropic ([27:15])
  - Fast-growing AI company; Cramer likes the enterprise focus, but warns: “$350 billion, that's a monster valuation. At that level, the stock will be trading at 30 to 40 times this year’s sales. Not earnings, sales.” [29:25]
4. OpenAI ([30:00])
  - Possibly $830B valuation, burning huge cash, may prefer to stay private; “If OpenAI were to come public this year, it would be forced to open the kimono and show us its financial results. And I bet we see huge operating losses…” [30:53]
Historical Context:
- Cramer connects boom-bust IPO cycles from 2000 and 2021 with today’s environment, urging caution with new listings.

Venezuela Oil Deep Dive (with Rusty Brazil, RBN Energy)

[32:53–40:15]

Venezuela’s Real Oil Potential:
- Despite boasting the world's largest reserves “on paper,” Venezuela’s daily production has plummeted to just 900,000 barrels.
- Infrastructure is in “shambles,” and most refineries aren’t working; much investment would be needed before meaningful output.
  - Rusty Brazil: “In terms of production, it's only about 900,000 barrels a day, which is tiny...down from like 3 or 4 million barrels.” [33:10]
  - On infrastructure: “The majority of that infrastructure does not work. They're importing more product from the U.S. than was going to the U.S. from Venezuela.” [33:55]
Heavy Crude Challenges:
- Venezuela’s oil is “like tar or black molasses,” requiring special refining or upgrading, expensive for U.S. refiners.
Market Implications:
- Even aggressive ramp-up scenarios don’t threaten to “flood” the market; any increase would take years and wouldn’t swing global prices.
  - Rusty: “I think it’s going to be a long, long time before Venezuela floods the world.” [39:27]

Warning: IPO Supply Shock Ahead

[44:10–47:29]

Cramer’s Cautionary Outlook:
As exciting as Databricks, Anthropic, SpaceX, and OpenAI are, Cramer cautions that the sheer size of new supply may overwhelm market demand:
- “These are all much larger companies than we've ever dealt with…some may aim for $1 trillion valuation right out of the chute. It could be deadly for the rest of the stock market.” [44:20]
- “If we get three or four [mega-IPOs] close together...supply, that's excess stock, will overwhelm demand and the market will have to digest all this new stock. Can it? I think not.” [45:24]
- “Lots of other stocks will have to be sold so the potential buyers can raise the cash to participate in the big IPOs…this shift won’t happen for a while, but these megadeals are the biggest looming threat to the bull.” [46:22]
Historical Parallels:
He cautions this is “what happened in 2000, again in 2014, and...end of 2021,” leading to significant declines for existing portfolios.

Notable Quotes

“Not coming in on a stock that’s already up 30 or 40% this year…instead you have to accept that you missed it. Not easy.” – Jim Cramer [03:43]
“Now that's when you want to buy: after he lowers the boom. Not up here.” (On JP Morgan/Dimon’s caution) [06:11]
“When it trades like this, what do you have to do? You have to pounce.” (On CrowdStrike) [07:36]
“This year we’ve got the potential for as many as 4 mega IPOs...even one of them happens, it’ll be a huge deal. And if priced right, the first or second megadeal is the one you want…Any later than that and this market might begin to run out of money.” [32:26]
Rusty Brazil: “The majority of that infrastructure does not work. So they're importing more product from the United States than was going to the United States from Venezuela.” [33:55]
“If we get three or four [mega-IPOs] close together…that is a very different story…supply…will overwhelm demand…lots of other stocks will have to be sold so buyers can raise cash. That’s what happened in 2000, 2014, and 2021…” – Cramer [45:24]

Structurally Important Timestamps

[03:13] — Cramer’s core market risk lesson and bank sector deep dive
[07:36] — CrowdStrike and Microsoft value opportunities
[09:32] — Procter & Gamble as a “slow build” value pick
[14:26] — IPO market 2025 recap
[22:49] — 2026 IPO preview: Big Four
[32:53] — Venezuela oil supply: Rusty Brazil interview
[40:15] — Lightning Round rapid-fire stocks
[44:10] — Mega-IPO supply warning

Final Takeaways

Timing and selectivity are crucial in a buoyant market—don’t chase breakouts.
Look to buy quality stocks when they temporarily fall out of favor (CrowdStrike, Microsoft, Procter & Gamble).
The 2025 IPO market’s lackluster performance is, paradoxically, healthy.
2026 may bring “the year of the mega-IPO” with some of the largest deals ever, but this flood of new supply could destabilize stocks more broadly.
Venezuela’s oil comeback is overhyped—its battered infrastructure and tar-like crude won’t move the global supply needle for years.
Prepare for IPO-driven volatility and be ready to hold quality through the coming maelstrom.

In Cramer's words:
“There are bull markets somewhere—I promise to find them for you, right here on Mad Money.” [47:19]

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Mad Money w/ Jim Cramer 1/7/26

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Summary

Mad Money w/ Jim Cramer – January 8, 2026

Episode Overview

Market Overview & Stock-Picking Wisdom

Lightning Round Highlights

2025 IPO Market Recap & Outlook

2026: The Year of the Mega-IPO?

Venezuela Oil Deep Dive (with Rusty Brazil, RBN Energy)

Warning: IPO Supply Shock Ahead

Notable Quotes

Structurally Important Timestamps

Final Takeaways

Summary

Mad Money w/ Jim Cramer – January 8, 2026

Episode Overview

Market Overview & Stock-Picking Wisdom

Lightning Round Highlights

2025 IPO Market Recap & Outlook

2026: The Year of the Mega-IPO?

Venezuela Oil Deep Dive (with Rusty Brazil, RBN Energy)

Warning: IPO Supply Shock Ahead

Notable Quotes

Structurally Important Timestamps

Final Takeaways