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Jim Cramer (1:06)
My mission is simple. To make you money. I'm here to level the playing field for all investors. There's always a mo market somewhere and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Crame America. Other people want to make friends. I'm just trying to save you money. My job is not just to put in context. Explain this stuff. Try to be entertaining. Is Friday so call me. 107bcbc sweet bit Jim Cramer tough day. 10 days ago there was this deal coming for a company that looked like the hottest thing since the invention of the steam engine. People were talking about it as the way to invest in the greatest industrial revolution since the canal, the railroads, even the loom. Fast forward today and what's the single most disappointing stock in the entire market? One that's nasty debt laden business with diminishing clients and a product that's losing value. So speak. They're the exact same company. It's called Core. We've this infrastructure IPO set the tone today. A day where The Dow tumbled 716 points as a big plunge 1.97% and the Nasdaq plummeted 2.7% core. We was originally supposed to come public at 47 to 55. That was the range. But last night they downsized the deal and they cut the offer price to 40 bucks because of weaker than expected demand. Stock opened a dollar below that level this afternoon for manager close exactly at the $40 place. How ironic. Last week this deal could have come at 40 and opened at 50 and go higher still. Incredible mood swings right now. And by the way, mood swings are not good for good investing. Yes, this company where we is the glue that holds the data center together. It's become toxic because of a person with a lot of money. Joe Tsai from Alibaba in China seems to be questioning the data center's cost and wondering if a bubble's on the horizon. Microsoft too is a problem rumored to be scaling back some datacenter commitments. But we don't even know enough to make a decision about that. Not that it mattered in a shoot first and then don't even bother to ask questions environment like we're in now. Now if you're at coralweave and you thrive on the need for more data centers, you're watching what the market thinks is peak demand. The action today says there's nowhere to go but down. We've obviously doesn't believe that but the market decided that in videos GTC conference last week when we went out there marked the top of the entire industry and the core we deal with its radically downsized offering was just confirmation. When you couple that with the tariffs orchestrated by the President United States, you got a stock market that feels like a nuclear winter. In this kind of environment, you don't need a weatherman to know which way the wind blows. Today the wind blew the radioactivity from the CoR we deal and the auto tariffs and set it right in your face. Can the floor be wiped off before your portfolio is totally your idea? You know what? I think we'll find out next week once the radiation clears. But don't get too excited. I'm not going to give you a real upbeat thing going here. Even though it's supposed to be nice day tomorrow in the east. You're not going to feel pretty good after I read this. I'm just trying to tell you straight stuff. Now we don't have a lot of earnings next week, but we do have some two gigantic events and first Wednesday, okay, that's what the President's calling Liberation Day. The day when he tells us that what the new tariff regime will look like liberate ourselves from our trading enemies or whatever. And then second Friday Labor Department's non farm payroll figures for March. These are both really really big days. Everything else is a little tiny, but we're going to deal with it anyway. Both of those have the potential to turn this market around. One because it will be great when we are past it and the other because people think inflation is about to rage and who knows maybe something happens that puts Coral we've back in the market's good graces. The stock did finish where it was priced although it did trade a couple of dollars lower. Intraday we will be speaking to the CEO of Corwave later tonight so we'll find out whether we can do some buying or take a page from those stock sages. Fleetwood back pick up the pieces and go home. My history of studying these things says the stock does not act well for the next couple couple of weeks. That's been the process. I've seen it over and over again been involved. IPO has been the syndicate desk. That's my knowledge frankly. I'm not saying for weeks I've been telling members of the CNBC investing club the tech suspect we haven't bought anything until today and nothing at all Tech because we see that the market's turned against artificial intelligence robots, autonomous drive. We have eyes. It's even turned against the chat bots and it's like nothing's going to come back. Even though you'll hear of an alpha tonight called Otters private company and you could have said wow. I think that I wish that the data center people talk a little bit better about because it's so incredible or so it seems. What happens going forward? Look, I think there's a good there's some good news here. First, there won't be another Corey deal next week. Second, after Wednesday there probably won't be any new news on tariffs on top of the news on tariffs now those are the two reasons why you can't afford to leave this market right now. Even though I know it would just feel so great to sell everything. I mean I just said get out now. Probably half you think. Thank God he relieved us from our chains of of of anger and sadness. But what's on the counter next week other than Liberation Day where we find out exactly how awful the penalty to our commerce will be at least in the short term. No one is going to celebrate that day other than say that it's over. On Monday we hear from pvh. That's the apparel company behind Calvin Klein and Tommy over used to be very hot stock at one point. We've become so used to disappointments in retail though that our eyes will glaze over when we see how bad these numbers might be. Understand that the estimates here have been consistently cut for PVH and there's still little hope that it will beat the numbers. The numbers. All I say is fingers are crossed. Now Tuesday, April fools and today made you feel, well, kind of like a real fool. If you bought some stocks, let's hope it is a prelude. If you're a bull, you want people to be prepared for everything the president can throw at the worldwide system of free trade. You have to believe that there will be no one left who thinks the tariffs won't be worse than Smooth Hawley. That was a horrendous set of tariffs that helped usher in the Great Depression. The bulls want people to wake up from the nightmare that is Core Weave and wish they they bought it. I say don't hold your breath. And don't expect the steel to open the IPO floodgates either. We should all be glad that they were able to get it done at all. The market is beginning to believe that the president will stop at nothing to make his points on trade and he won't change his mind until all our trading partners are brought to heel. I believe that. Then maybe we bounce. I think some people might say that's too dire. Though as I see it, we're getting closer to the moment where President Trump recognizes the beat, the beating that people are actually taking the stock market. But it'll take time to get there because stocks have run so much in the last decade. If he declines, I don't know, if maybe the decline gets bad enough, he'll do something. I bet he'll ease up on the tariff rhetoric. We aren't there yet, though. This is a bad place to be. But it is not horrendous. That's the best I can say about it. Now there's some corporate news adjacent to Liberation Day. RH reports on Wednesday close that Steel Restoration hardware has fallen from 457 down to 236, a sickening decline, but not like many other retailers. I'd say wait for the balance. I'm not really. I don't know. It's too hard. How about that? It's just too hard. That's out of Washington. Weigh too heavily on the market to make that kind of bet. And with this tape, it does feel more like a bet than investment. Thursday's quiet on the Washington front, but it's a good prelude to the beginning of earnings season. Conaga reports. Okay, and the last thing we heard from this packaged food company was a bit dispiriting. One look at that Yield north of 5% tells you that something's very awry here. We also have Con Agris, Spawn, Lamb Weston. The. The frozen potato company which is trying to bounce, to which I say so is Corey. Finally, on Friday, we get the Labor Department nonfarm payroll. Let's speak about this now. In light of the very inflationary tariffs and tariffs are immediately inflationary, the bulls have to hope this number shows slow job growth and no wage growth. Given this market's mood, I think that anything deviates from that Panglossian scenario will trigger not just talks of stagflation but definitive chatter about a bear market. That's where we are, okay? People are going to start talking next week that we are in a bear market and it's not going to be any more about a correction. It's going to be the absolute bear. Which brings me to the fatal question. Is it too late to get out or should we start thinking of buying weakness? Now, I can tell you that a couple of real bad days does not a bear make. It's a nasty run. Doesn't seem like it's over. So why not do this? Take the other side of the trade if you have some cash on the sidelines. I actually put a small amount of work of money to work into the abyss of Tuesday, betting that things are going to be too negative. What we see on Wednesday, then you can put more money to work on Friday. If we get knocked down by an overheated labor report, the bottom line is it's not the end of the world. It just feels that way. Okay, let's go to Martin in Florida, please. Martin, Bubba. Booyah. Mr. Kramer, how are you today? You know, long day, but I feel for everybody who owns a lot of stocks. How are you doing today? I'm doing fine.