Mad Money w/ Jim Cramer – February 5, 2026: Episode Summary

Overview

In this episode, Jim Cramer takes listeners through a volatile day on Wall Street, examining the sharp moves in both "hot" tech stocks and more traditional sectors. The episode features signature segments: Cramer’s market commentary, an in-depth interview with Novo Nordisk’s CEO on the GLP-1 drug race, a discussion with Banco Santander’s Executive Chair on the bank's rapid US growth, a conversation with Take-Two Interactive’s CEO about the future of gaming in an AI world, followed by the enthuastic “Lightning Round,” and a closing reflection on the impact of AI on the software industry.

Market Commentary & Investment Insights

Key Points:

• Cramer warns about the dangers of chasing "parabolic" stocks that soared and are now crashing.
• He notes the resilience and value in sectors like industrials, health care, retail, and AI adopters over speculative tech and unprofitable futuristic companies.
• Old staples (food, pharma, industrials, banks) are outperforming while former tech darlings underperform amid AI disruption.
• Urges listeners to maintain diversification; overexposure to high-beta tech or speculative sectors could be catastrophic in current volatility.

Quotes:

• “There is a reason I always hesitate to recommend the hottest stocks in the market…the ones with the parabolic moves…days where you can lose so much money…” (03:03)
• "If you despise diversification, I got some real bad news for you. If this volatility keeps up... you're going to get smashed..." (08:58)

Timestamps:

• [01:42] – Cramer’s market intro, caution on hot stocks
• [03:00–09:40] – In-depth on sector rotation, AI’s influence, tech underperformance, and the need for diversification

Interview: Novo Nordisk CEO, Mike Dewstar – GLP-1 Drug Competition

Key Topics:

• Novo Nordisk’s GLP-1 (semaglutide/Ozempic/WeGovy) performance and new pill form launch.
• Price reductions impacting short-term sales guidance due to increased competition from Eli Lilly.
• Cramer’s pushback on the company’s conservative outlook, arguing Novo’s innovations and supply chain readiness position it well.
• Dewstar’s focus on patient needs, innovation, and the adoption rate of the new pill, which uses unique technology for high efficacy.

Notable Quotes:

• “The pill is, has had a phenomenal uptick, Jim. It has been probably one of the best...pharma launches…” – Mike Dewstar [14:42]
• “We have now on a weekly basis 50,000 prescriptions coming in...170,000 Americans are on the pill in four weeks.” – Mike Dewstar [14:49]
• “They will take basically the higher effective product. And…with diabetic patients, [dosing regimen] is a non-issue.” – Mike Dewstar [18:32]
• “Internally, Jim, I say this is a marathon and not a sprint. Even though every single day we got a sprint on our daily activities. The war and the battles are won in a marathon passion and not in a sprint.” – Mike Dewstar [19:58]
• “We feel very confident from a supply point of view, which is, unfortunately, the issue we ran into with the injection. We are very comfortable with the pill…” – Mike Dewstar [21:38]

Timestamps:

• [13:26] – Cramer introduces Novo Nordisk segment
• [14:11–22:45] – Full interview with Mike Dewstar, covering competitive positioning, drug efficacy, business guidance, and market strategy

Interview: Ana Botín, Executive Chair of Banco Santander – Banking Growth

Key Topics:

• Banco Santander’s stock has surged 142% in 12 months, focusing on profitability and growth.
• Acquisition of Webster Financial to strengthen footprint in wealthy Northeastern US markets.
• Strategic discussion on why Santander left Poland and doubled down in the UK and US.
• Unique approach: serving both mass-market and wealthy customers—a contrast with other global banks.
• Resilience of US consumer, especially on auto loan credit quality, and positive outlook for 2026 in Europe and the Americas.

Notable Quotes:

• “Profitability, being the most profitable bank in each one of our businesses and geographies is our big goal. And obviously we also want to grow.” – Ana Botín [25:47]
• "In 2025…we grew 8 million customers…now at 180 million customers." – Ana Botín [26:29]
• “Webster and Santander will become the fifth largest bank in its footprint… and will have an 8% market share…combined will get to 18% return on tangible equity by 28.” – Ana Botín [27:30]
• “The Santander world... overall looks better in 26 than it did in 25…solid growth, not great, but solid growth.” – Ana Botín [32:00]

Timestamps:

• [24:04] – Cramer introduces Banco Santander segment
• [25:19–33:04] – Interview with Ana Botín on profitability, US expansion, strategy, and global economic outlook

Interview: Strauss Zelnick, CEO of Take-Two Interactive – AI & The Future of Gaming

Key Topics:

• Addressing concerns about Google’s Project Genie and AI-generated video games disrupting traditional studios.
• Zelnick asserts that Take-Two’s expertise and IP superiority make them AI beneficiaries, not victims.
• Revelation of AI and machine learning integration at Take-Two; hundreds of AI projects ongoing.
• Strong performance in mobile gaming and perennial franchises like NBA 2K and Grand Theft Auto (GTA).
• Anticipation and strategy for the November 2026 GTA 6 launch, expected to energize both game sales and console upgrades.

Notable Quotes:

• “Our business has availed itself with machine learning and artificial intelligence since the beginning...Hundreds of AI projects going on now.” – Strauss Zelnick [35:16]
• “If you keep doing great stuff, the work has to get better and better. Visual Concepts… just sets the bar higher and higher every year. We're up 30% year over year.” – Strauss Zelnick [36:37]
• “I think there's going to be [a console] upgrade cycle. That's much better than say the co-pilot up.” – Jim Cramer [39:33]

Timestamps:

• [33:26] – Cramer introduces Take-Two Interactive segment
• [34:08–39:49] – Interview with Strauss Zelnick

Lightning Round – Rapid-Fire Stock Picks

Key Points:

• Cramer gives quick buy/hold/sell opinions on viewer-caller stocks:
  • Gold miners (Agnico Eagle, Newmont): favorable outlook due to gold price/costs.
  • Biocryst Pharmaceuticals (BCRS): negative, “just stay away from that.”
  • NXT (Next Power): positive, “Just go buy it.”
  • SkyWest Incorporated: buy United and FedEx instead.
  • Synchrony Financial: prefers Capital One.
  • EOS Energy Enterprises: too speculative, “year of magical thinking” stock—don’t touch.
• Emphasizes disciplined investing and skepticism on “magical” speculative names.

Memorable Moment:

• “You don't want to be the first man on the sun. I know what that's like.” – Cramer [10:04]

Timestamps:

• [40:31–44:10] – Lightning Round

Closing Essay: The AI Coding Apocalypse

Key Points:

• Cramer reflects on the history of lucrative Wall Street jobs: from investment banking to private equity to coding/tech startups.
• The new disruptor: AI platforms that can write code, threatening the business model of enterprise software and diminishing the value of coders.
• Firms like Anthropic launching AI tools for business functions, leading to rapid “multiple compression” in software stocks.
• Some software firms will survive and adapt, but the golden era of infinite growth and high multiples for the entire sector is likely over.

Notable Quote:

• “With AI you don't need programmers because these platforms can write code better than humans…It could be a coding apocalypse. And that's why all the enterprise software stocks are coming back to earth.” – Jim Cramer [44:25]

Timestamps:

• [44:25–48:20] – Closing commentary on AI’s impact on coders and software stocks

Episode Highlights / Notable Quotes (Quick Reference)

• On diversification: “…if you despise diversification, I got some real bad news for you. If this volatility keeps up…you’re going to get smashed…” (08:58)
• On Novo Nordisk’s pill: “[The pill is] probably one of the best, if not the best pharma launches…170,000 Americans are on the pill in four weeks time.” – Mike Dewstar (14:49)
• On AI and coders: “…With AI you don't need programmers…It could be a coding apocalypse.” (44:25)
• On gaming and AI: “Our business has availed itself with machine learning and artificial intelligence since the beginning…Hundreds of AI projects going on now…” – Strauss Zelnick (35:16)
• On Santander’s strategy: “Profitability, being the most profitable bank in each one of our businesses and geographies is our big goal. And obviously we also want to grow.” – Ana Botín (25:47)

Timestamps for Major Segments

• [01:42] Market commentary opens
• [13:26] Novo Nordisk CEO interview
• [24:04] Banco Santander CEO interview
• [33:26] Take-Two Interactive CEO interview
• [40:31] Lightning Round
• [44:25] “The AI Coding Apocalypse” closing essay

Tone & Language

• Energetic, urgent, and sometimes humorous (“first man on the sun”, “flying cars”, “magical thinking stocks”)
• Cramer’s direct, no-nonsense style, with an undercurrent of caution in the current market climate

Summary Use

This summary provides a comprehensive and engaging overview of the episode, organized by segment and subject, capturing Cramer’s tone, notable guest insights, and practical timestamps for easy reference. Even without listening, readers will grasp the episode’s flow, highlights, and actionable insights on markets, key sectors, and major companies discussed.