Mad Money w/ Jim Cramer 4/13/26

Summary

Mad Money w/ Jim Cramer – April 13, 2026

Host: Jim Cramer (CNBC)

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Episode Overview

On this high-energy episode of "Mad Money," Jim Cramer dissects the robust rally in the U.S. stock market despite geopolitical tensions, especially with regard to the ongoing war with Iran and volatile commodity prices. Cramer analyzes why the markets continue to climb, even as oil surges and peace talks falter, and offers deep dives into trending segments such as photonics (fiber optics), AI-related stocks, and global online gambling. Several caller questions are answered, and Cramer interviews Neil Manashai, CEO of Supergroup, a rising player in the online betting space. The famous Lightning Round wraps up the episode with rapid-fire stock picks.

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Key Discussion Points & Insights

1. Why the Market is Detached from War News

[01:00–06:00]

• Despite the escalation in the Iran conflict and the Strait of Hormuz embargo, U.S. indices (Dow +302 pts, S&P +1.02%, Nasdaq +1.23%) rallied.

• Cramer attributes this rally to stable U.S. interest rates, which remain low despite significant commodity inflation (like oil doubling in price).

  “It's pretty darn clear that the market is not in sync with the war… even oil, which was up 7% at one time—usually a stock market killer—only finished barely up.” (Jim Cramer, 01:45)

• Key Factors Supporting Market Resilience:

  • Fuel Efficiency: U.S. vehicles are more efficient, reducing oil shock impacts.
  • Domestic Gas: Natural gas—plentiful and cheap in the U.S.—is a ‘secret weapon’ that blunts global energy turmoil.
  • Interest Rates: “As long as the rates don’t move higher… we might even be able to be blessed with tax cuts.” (Jim Cramer, 06:19)
  • Oil Price Globalization: The U.S. can export oil if world prices are better, similar to historical wheat exports during famine.

2. Interest Rates & Market Valuation

[06:00–09:00]

• Normally, oil spikes would pressure the S&P 500 but “history is being disobeyed and ignored here.”
• Fed’s Stance: Current inflation (tariffs, gas) is viewed as ‘one-off’; focus is on housing and possible future rate cuts.
• Valuation Multiples (P/E Ratio): Cramer breaks down that for most stocks, the war news barely affects their P/E ratios.

  “What’s the Strait of Hormuz got to do with the price/earnings ratio of Bristol Myers? The answer is nothing.” (Jim Cramer, 08:15)

3. Market Leadership & Sector Rotation

[09:00–12:31]

• Surging software stocks (Salesforce, Microsoft). Hardware winners include Intel and Micron.
• Private equity names with exposure to private credit (Blackstone, KKR, Apollo) are rebounding, suggesting limited crisis fallout.
• Cramer notes persistent market gains despite fears of volatility linked to President Trump’s moves:

  “As crazy as it is, the President’s moves may be erratic but the impact on stocks has been very limited.” (Jim Cramer, 11:37)

• Notable Quote: “Nvidia—own it, don’t trade it.” (Jim Cramer, 09:45 and 22:02)

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4. Lightning Round: Q&A with Callers

[09:58–12:31]

• Figma (FIG): Cramer warns of intense competition, especially from Google, causing stock underperformance.

  “It’s going down because a lot of people feel you can do the same thing that Figma does with Google.” (Jim Cramer, 10:29)

• Vistra (VST), Constellation (CEG), Sempra (SRE): Cramer likes Sempra best among these utility players (11:16–11:35).

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5. AI Displacement & Software Stocks

[14:02–21:07]

• Cramer acknowledges Wall Street’s persistent fear that AI will ‘steamroll’ software and services companies.
  • Shopify (SHOP): Despite a 37% drop from October highs, its earnings remain robust; Cramer disputes the idea it’s at risk of AI-driven displacement.
  • Features technical analysis and seasonal trends from Larry Williams, suggesting the stock could bounce back:

    “Shopify’s in the undervalued zone…these have been excellent buying opportunities.” (Jim Cramer, 17:56) “Shopify stock has come down too far, too fast. I think Larry’s right to expect this one could give us another terrific springtime rally.” (Jim Cramer, 20:34)

• Cramer points to AI as less likely to hurt smaller businesses (Shopify’s core clients), compared to enterprise software.

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6. Fiber Optics & Photonics: The Next Big Play

[22:27–29:46]

• AI buildout is driving huge demand for optical communications components.
• Nvidia’s $2B investments boost Lumentum and Coherent, triggering sector-wide rallies.
• Cramer deep dives into Lightwave Logic (LWLG), which has soared 1,000% on its promising electro-optic polymers:

  “Development agreement is not the same as volume production… being an option in a foundry is not the same as being chosen by a customer.” (Jim Cramer, 27:28)

  • Warns LWLG is still pre-revenue, high-risk, and overvalued; prefers established names like Coherent, Lumentum, or Nvidia for broad “AI/Photonics” exposure.

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7. Callers on Stock Volatility and Turns

[29:46–33:24]

• Super Micro Computer (SMCI): After an indictment and 30% drop, Cramer advises to exit on a bounce due to “accounting irregularities = sell.” (30:29)
• Corning (GLW): Despite a high P/E (~55), Cramer remains bullish, forecasting fiber glass will “take over the whole data center.” (31:21)
• General market lesson: Sell questionable names on rallies and stick with proven performers.

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8. Exclusive CEO Interview: Neil Manashai, Supergroup

[33:24–39:16]

• Supergroup owns Betway (sports betting) and Spin (online casino); recently exited the U.S. to focus on global markets.

  “We only go to markets where we see a path to profitability. We tried the U.S., we really tried…we realized we’re never going to make profit. So we decided let’s just call it a day.” (Neil Manashai, 33:59)

• Success drivers:

  • Africa is their largest market; also strong in Canada and the UK.
  • 80% “i-gaming” (online casino), 20% sports betting.
  • Innovating via stablecoin launch in South Africa.

  “Last year we made $560 million of EBITDA. This year we said we’ll make $680 million. But here’s the key: 70–75% free cash flow from there.” (Neil Manashai, 37:11)

• Cramer’s take: Supergroup is still undervalued, with a strong, non-U.S.-based profit engine.

  “Don’t discount us because we don’t have U.S. business…we’re an international business outside the US and there’s a ton of money to be made.” (Neil Manashai, 37:36)

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9. The Lightning Round: Rapid Fire Stock Takes

[39:33–42:52]

• Nubank (NU): Cramer prefers buying recently beat-up Goldman Sachs instead.
• Red Cat (RCAT): Too little profit; “a good spec.”
• Element Solutions (ESI): Cramer positive; “very, very good company.”
• Stonex (SNEX): “Don’t know it.”
• Mane Biotech (MANE): Hair loss treatment—“very risky stock…but if it can be solved it’s worth double. So it’s double or nothing.” (42:15)

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10. Rebound in Software Stocks Post-AI Selloff

[43:20–47:11]

• Software stocks staged a bounce after being broadly battered over AI fears.

  • Microsoft, ServiceNow, Salesforce, Oracle all up—the latter bouncing nearly 13% after sharp declines.

  “Any stock can bounce… these stocks get sold and sold and sold until they’re oversold, and then they bounce for reasons not readily accessible.” (Jim Cramer, 43:20)

• Cramer suggests separating out software stocks disrupted by AI, turbocharged by AI, and those unrelated—promising to deliver his own index methodology soon.

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Notable Quotes & Moments

• On Market Apathy to War:

  “The S&P closed to all-time highs…despite the failed talks and our embargo of the strait that Iran’s already blockading.” (Jim Cramer, 02:45)

• On AI Displacement Hysteria:

  “People have taken a sell first, ask questions later approach, throwing out a ton of high quality stocks…” (Jim Cramer, 14:11)

• On Lightwave Logic:

  “If a married couple made $159,000 in a quarter, they wouldn’t even be in the top tax bracket. So it’s hard for me to recommend this as a nearly $2 billion company when it’s losing money…” (Jim Cramer, 27:54)

• On Supergroup’s U.S. Exit:

  “We only go to markets where we see a path to profitability.” (Neil Manashai, 33:59)

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Timestamps for Important Segments

• [01:00] – Opening market analysis and main theme: market rallies despite war
• [06:00] – Interest rates, inflation, and why stocks are so resilient
• [09:58] – Lightning Round: Callers ask about Figma, Vistra, Sempra
• [14:02] – Cramer analyzes Shopify and the AI “displacement” fear
• [22:27] – AI infrastructure, fiber optics, and the Lightwave Logic craze
• [29:46] – Callers on Super Micro Computer (SMCI) and Corning (GLW)
• [33:24] – Interview: Neil Manashai (CEO, Supergroup)
• [39:33] – Lightning Round: Rapid Q&A
• [43:20] – Bounce in software stocks, the “AI index” idea

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Overall Tone & Style

As ever, Jim delivers in his trademark urgent, lively, and entertaining style—mixing analysis, humor, and tough love (“accounting irregularities = sell”). His advice is grounded in valuation discipline, technical analysis, and a pragmatic view of Wall Street hype cycles, particularly around AI. Cramer champions informed, careful investing, urging listeners to “own it, don’t trade it” in quality names and to steer clear of frothy, early-stage plays that have gotten ahead of themselves—no matter how hot the theme.

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Summary

This episode of Mad Money provided listeners with:

• A rational take on the market’s resilience amid geopolitical volatility.
• Sector deep-dives into AI, photonics, and software, cutting through hype to identify real risk vs. reward.
• A practical assessment of new opportunities (e.g., Supergroup, Lightwave Logic) versus reliable blue-chips.
• Tactical advice through listener Q&A and the Lightning Round, with clear, actionable stances.

Missed the show? This summary equips you with all the key insights, memorable lines, and crucial timestamps—so you can make sense of Wall Street’s latest moves and separate signal from noise.

Transcript

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[Jim Cramer]

My mission is simple to make you money. I'm here to level the playing field for all investors. There's always a bull market somewhere and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. We welcome to Cream America Frames. I'm just trying to make you money. My job is not just entertainment. Educate. Do some teaching. So call me at 1-873CBC. Tweet me at Jim Cramer. We don't trade the war. There may be a way to bet on it via the prediction markets, but there's no way to buy or sell the Strait of Hormuz or the double sided blockade or the next round of peace talks if there is one. No, we trade stocks and our day today. The Dow ultimately gained 302 points. S&P jumped 1.02% in the Nasdaq pole vault at 1.23%. It's pretty darn clear that the market is not in sync with the war. The peace talks broke down and it didn't matter one bit to the average. Didn't even seem to matter to the oil market which was up 7% at one time. Usually a stock market killer, but only finishing the day barely up. This was one incredibly powerful rally. This weekend I wrote a very bullish piece for CNBC Investing Club members where I talked about how the stock have diverged from the war in a very positive way. Let me give you a taste of that analysis. For starters, we know that the war with Iran has caused the price of oil to almost double. If history be our guide any time the Price of crude doubles. The s and P500 should go down roughly 20%. But history is being disobeyed and ignored here. It's been a month since oil reached these elevated levels. Yet despite the failed talks and our embargo of the strait that Iran's already blockading, the S and P closed to all time highs. It's close to it this far. Two Mondays ago may have been the bottom. It's been simply a spectacular run. I don't have enough positives. I just don't. Oh, just a second house of pleasure. Why is this? Quite simple. Even though we have all sorts of commodities spiking, our interest rates are key. And our interest rates haven't moved up. It's like they're stuck at these low levels. As long as the rates don't move higher than they knew that once about to emerge under Kevin Marsh certainly isn't going to raise short rates. And they might even be able to bless us with with tax cuts. How's that possible? How can rates do nothing with all this commodity inflation? And why am I so sure that the economy won't fall apart in the interim between Jay Powell and Marsh? Why don't we do this? Let's examine the inputs of the bond market so you can see why we aren't being impacted first. As onerous as these rising prices may be, let's face it, our cars are a lot more fuel efficient than they were during any previous oil shock. And our natural gas is all domestic, not expensive at all. We're impacted, but it's mostly at the pump. While we can get all of our oil and gas from North America, the price of gasoline is set worldwide. Domestic producers will just export the stuff if they can get a better price overseas. Like Irish landlords did with wheat during the potato famine. Who knew? So we can catch a break on the price of gasoline, but we don't really need a break. See, these days our vehicles are more efficient and burn fewer gallons gallons per mile. Perhaps more important, despite all the griping, gasoline isn't even that high versus inflation. We've been here before, people. And it didn't cause a downturn. Of course, the price of crude rallies 50 bucks from these levels. That's a different story. But it hasn't yet though in all markets where frankly they're looking like this not going to happen. But other than cars were fine. America's electrical base doesn't run on oil, runs on natural gas. There's no real global market for natural gas because our export capacity is limited by Our infrastructure, unlike the rest of the world, we have an abundance of this stuff, although we didn't know we had this much of it. The time of the most, even in the most recent oil shocks is new. Our current price is about $2.65. It's down. The rest of world's paying seven to eight times that. We're exporting full out. But it takes many years and lots of money to build new liquefied natural gas terminals. For now, barely makes a dentist in our domestic production though, and it certainly doesn't dent the demand that they have overseas. Beyond that, the price of oil, while elevated, actually spent most of the day going lower. At one point it was up 7% but the end, the trading says was up about a percent and a half. I think Trump's blockade didn't move the needle because the Iranians were already blockading the other side anyway. In the end though, natural gas, not oil, is our secret weapon. We run on it and the rest of the world runs on it too. We are glad we are, they aren't. Ever since countries started aggressively decommissioning the nuclear plants in the wake of Fukushima disaster, they switched to natural gas. I'm sure they regret it now. It's natural gas, not oil, that will break much of the world's back, particularly in Asia, but not ours. There's a huge reason why our markets can shrug off the strait of moves even as most nat gas hungry countries can, because they get a lot of their gas from Qatar, formerly the world's biggest exporter, before being taken offline by a devastating Iranian drone and missile attack. Second, number two, let's talk about inflation more broadly. The consumer price index we got Friday was already elevated by tariffs. They were the principal reason for higher prices of late. Now we tackle on the price of the pump and it's going to get worse. However, the Fed will most likely asterisk these as all one off price increases. They won't take it under consideration when they mow whether to cut rates. Instead, new Fed chief wash will be thinking of housing and how to get it moving. I don't know if you can convince the rest of the committee to cut rates, but it's a real possibility and that's allow the averages to stay buoyant. I think I've been negligent to you in bringing up the power of low rates because it's the reason the bulls keep winning when it seems like they should be slaughtered. Let's not overthink it. If interest rates were spiking this market would be very different. We'd be down very hard. Instead of being overbought to the tune of seven on the S and P oscillator that I follow, by the way, that is a little too high for my taste. I would be taking some of it off the table Here we are going to address that exactly concept of taking something off the table. Thursday, noon, the club meeting. Still time for you to join. Now it's not that you can just take away the war as an input, but we have to ask ourselves what stocks are truly impacted by the war. Stocks are typically valued as P price equals E earnings times M the price to earnings multiple. I call this process of going, seeing where a stock will go, solving for M. If you can gauge M, you can figure out where a stock might be going. When you solve for M, the multiple you're trying to take in all the things that influence what we're willing to pay for a company's earnings. This is just like 20 pages in this in the book. When I try to figure out how the price of oil figures into the M for most stocks, it comes up snake eyes. No bueno. There just isn't that much impact. Whereas I used to say on the trading desk at Kramer Co. What's the straight of removes got to do with the price journeys ratio? Bristol Myers. Yes, that's where it's from. And the answer is nothing. Doesn't mean there aren't cross currents. We have the inevitable battle between hardware and software today. Software which has been hammered sprung back to life with a host of possible victims of AI roaring higher. More on that later. Two quintessential software companies, Salesforce and Microsoft led the Dow's gains. Exxon, which was replaced in the index by Salesforce was actually almost flat today. As an aside, Salesforce is now worth 159 billion. Exxon 630 billion. Back when the replacement happened, Salesforce was worth a little under 190 billion. Exom was a tad less than 180 billion. Bad trade by the keepers. Dow Hardware had its winners too. Intel's writing nine day win streaks and just confounded most with a 12% gain. Must be a short squeeze. It's almost 4%. Micron stock opened at 416, plunged at 4 and 8 and it finished the finish at 44426 was up 6 on the day. That's incredible action. Oh, and most of the private equity companies that have been targeted for the private credit exposure have already seen their share prices start to recover. Now nothing but short squeezes. Blackstone rallied $7. Now it's now $11 from where it was when the crunch got real hot. Palo rally 6 bucks KKR 7 bucks. These gains are a sign that the crisis may be limited, cordoned off. I can't believe that everyone comes out on scath, but today's gains were very impressive. Let me give you one more reason why we went up today. And some people probably say it's the biggest. There's still a considerable number of people who anticipate a crash every time President Trump makes an erratic move. But here's the bottom line, as crazy as it is. The President's move may be erratic, but the impact on stocks has been very limited. Is that right? I don't know. Then again, let me ask you something. What do Trump's move have to do with the price to earnings ratio of in video? Not much. Not much indeed. Nvidia Own it, don't trade it. Vijay in Massachusetts. Vijay.

[Caller/Listener]

Hi, Jim, this is Vijay Khodia from Boston. How are you?

[Jim Cramer]

I am doing fine. How about you, sir?

[Caller/Listener]

Good. I have a question on Figma stock ticker symbol F I G though this software has a tremendous UX and UI design features compared to Adobe software and it has a tremendous potential revenue growth also. But last 52 weeks, the price of the stock is going down and down. Why did so, Jim?

[Jim Cramer]

Okay. It's going down and down because a lot of people feel you can do the same thing that figment does with Google. I'm not kidding with Google. And that's what's causing it to go down. And I don't know how to stop that because some stocks that compete with Google just, well, that's the wrong place to be. Now I'm going to go to John in California.

[Caller/Listener]

John, Booyah. Jim, first time caller, long time listener. It is a real privilege to speak with you. I truly respect your work. Yes, sir. And your insight have had a big impact on my investing approach. You have no idea.

[Jim Cramer]

Thank you, man.

[Caller/Listener]

Yeah, appreciate it. So I have a question of Vista. What is your insight from here?

[Jim Cramer]

Okay. Oh, this is. You know what? I've been looking at this company and I really think that at this very moment you can go back to both Vistra and Constellation. I really do. But you know what's my favorite in the group and it was down a lot today. Jeff Martin, are you listening? I like Sempra.

[Jim Cramer (Host)]

Yeah.

[Jim Cramer]

The pressures, we may have been a little erratic, you know, I mean but they haven't been affecting the price earnings multiples of stocks. What do they have to do with the price range ratio of Nvidia. All right, man. Displacement fears have hit a lot of stocks in this market. Even that of one that has nothing to do with AI displaced displacement at all. Shopify. Let's do this. Let's take a technical look at where that company could be headed then. Fiber optics. One of the hottest stock stories this year, right? But how should you play this space? Oh boy. I got an idea. And don't miss my interview with supergroup. This is a sports betting name. It's standing out for the pack. It's like 10 bucks. I'm hearing all about how far it's come, where it's going to go, go, and then I'm gonna sit down with the CEO. You know what? I think you should stay with Kramer.

[Jim Cramer (Host)]

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-CONNB. Missed something? Head to madmoney.cnbc.com

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[Jim Cramer]

Learn [e-mail] Sapphire Reserve cards issued by JPMorgan Chase bank and a member FDIC subject to credit approval. All year we have been assailed by AI displacement fears. Basically at any given moment Wall Street's terrified that companies in the software or services space will be steamrolled or at least undercut by the rise of new AI platforms that can write code and assemble information themselves and look for a lot of companies. That's true, especially enterprise software. But I think people have taken a self first asked questions later approach here, throwing out a ton of high quality stocks that aren't really under threat from a I take Shopify, the Canadian company that fights all sorts of software and services to help small and medium sized businesses become true E commerce operations. After peaking at 182 and change last October, this stock is now down an astronomical 37% from that high to just below 115%. I don't. I don't know. It's possible. There's 115 is look at this from there to there and we'll get well here. Look, I think there's a strong case to be made for why Shopify should not be considered a potential displacement victim. And I got some chart commentary on the stock this weekend. Mary Williams, he's that legendary technician and stock market historian who thinks it's ready to rally right here, right now. This is going to be good. Let's start with the fundamental case and then we'll get into charts. This is a pretty simple story because Shopify keeps putting up excellent numbers. These guys last reported in mid February and delivered a tremendous set of numbers. I had them on my morning show with beats on every key line. Gross merchandise volume, revenue, operating income, free cash flow margins. They were all better than expected. Shopify's revenue growth doesn't seem to be eroding at all. This was the third quarter in a row where revenue growth clocked in at above 30%. Look at these numbers now. Shopify only guides 1/4 time, but its outlook for the first quarter of 2026 look pretty good too. Management called for revenue growth in the low 30s, so even if you think this is a potential future victim of a displacement, which I've said it isn't, it's clearly not having any impact on the business right now. That said, like so many of these stocks that have been hammered by worries, it's impossible to argue the chop is cheap. Stock trades at around 62 times this year's earnings estimates. On the other hand, it's much cheaper than it used to be. At its high last fall, Shopify was selling for well over 100 times earnings. Plus. Given the fact that the company is expected to grow its earnings per share at a 30% clip, well, paying 62 times earnings for the stock, isn't that crazy? Basically at the high end of what growth oriented money managers are historically willing to pony up. Okay, I know this is the big argument against. Most importantly though, I think it's crazy that this company is being treated as a likely casualty of of AI. Remember, Shopify makes tools that its customers can use to become true e commerce operators and they're mostly aimed at small and medium sized businesses. That matters because much of the displacement worries stem from the fact that the platforms like Claude Code from Anthropic and Codex from OpenAI have proven to be adept at writing code. They're fabulous. But that's really a threat for application software companies selling to enterprise scale customers because those companies have IT departments that can use a CLAUDE code to spin up custom software applications that can replace third party offerings. That's the real displacement fear. But I think that hardly, that hardly applies to Shopify, which makes mission critical tools for small medium sized businesses that likely don't have the engineering talent to create a customer built replacement for Shopify with Okay, so then you know the fundamental story. And again, I'm going to I'm willing to admit that this stock is not not cheap. It's never been cheap. With the fundamentals out of the way. Now we're going to talk about the technical so you know why I'm so I think this is such a cogeous story because when Larry Williams tells us that a stock's ready to roar, I am inclined to believe him. The guy's got an unbelievable track record and he's been doing this since before I could drive. First, check out this weekly chart of Shopify right in black next to Larry's true seasonal this is the seasonal pattern in blue. He points out that the stock has a strong pattern of rallying at this time of year from April into at least August. We've gotten that move right here in seven of the last 10 years. Historically speaking, the stocks got a 7, 70% chance of running until August. If you zoom in on the daily chart with Larry seasonal data, he points out that while this move usually starts in the first week of April, the spring Shopify rally tends to go into overdrive in May. So you're in great shape here. That's this work. Of course, seasonal patterns just reflect what's happened in the past. How about today? That's why Larry likes to see what else is going on at the projected seasonal and cyclical lows. Remember, he's always searching through the action to find cycles that repeat themselves. Cycles he can project into the future to make predictions. So take A look at this chart of Shopify with Larry's valuation gauge at the bottom. Okay. Valuation for this company, he likes to gauge its relationship with the US dollar index. As I mentioned, Shopify's Canadian company deals in retail. Valuation is not a timing tool. It shows is the general area valuation. When to be more aggressive, when to be more cautious. Right now, Shopify is in the underground value. Look at this right here. Undervalued zone in the past when we've seen similar readings here, these have been excellent buying opportunities. Look at that rally after it got there. Okay, got it, Got it. Next, I likes to watch what market professionals are up to. This chart shows you the level of professional buying or selling in Shopify. Lately, Larry points out that the stock's been under institutional accumulation. Even it's been coming down here. It's still above that yellow line, which is fine. It's a good sign. Finally, let's talk about Larry's cycle forecast for Shopify. He's noticed that going back to 2022, we've seen cycle lows about. This is really hard. About every 11 months. You can see in this chart from 2022 through 2024. While not precise, those lows have tended to be smart times to buy. Cycle low, cycle low, cycle low. Okay. Then when you look at the most Recent data from 2024 through the present moment, right now, the cycle forecast is the stocks already bottomed right there. Okay. And could be ready to roar. Larry particularly likes the way Shopify broke down to a new closing low on Friday. If the stock can close above that level, and it already has today, that he thinks that could be your entry point. I think this is so exciting. You got the fundamentals really turning up. Okay. I mean, always been good consistently. You've got this, I think that doesn't really have any cogency with me. And you've got the Williams trading cycles. Come on. Here's the bottom line. Whether you're looking at the fundamentals or the charts interpreted by Larry Williams, remember, he's the best. Shopify stock has come down too far too fast. I think Larry's right to expect this one. Could give us another terrific springtime rally. I like Shopify. Their money's back here for the brick.

[Jim Cramer (Host)]

Coming up. Lightwave Logic has been lighting up the scoreboard lately. So is it time to add the photonics company to your portfolio? Kramer's presenting the full picture.

[Jim Cramer]

Next.

[Jim Cramer (Host)]

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[Jim Cramer]

Learn [e-mail] Sapphire Reserve cards issued by JP Morgan Chase bank and a member FDIC subject to credit approval. Let's talk about one of the hottest stories of the year. Fiber optics. We're putting up data centers all over the place, but the industry needs better ways to move data around, which is where the optical plays come in. As traffic between switches, racks and servers explodes. It's tough to keep scaling AI with more silicon, more power and more cooling forever. At some point you have to cope with the physics of the situation. That's why the data center builders are increasingly turning to photonic and fiber optic solutions. Think light moving through fiber to handle their networking needs. On March 2, Nvidia agreed to invest $2 billion apiece in two different fiber optic companies, Lumentum and Coherent. We had them both on both great stories. Both deals included multibillion dollar purchase commitments plus future capacity and access rights. Nvidia essentially lock trying to lock up critical optical laser supply before the next bottleneck bottleneck shows up. Look, the message from Nvidia CEO Jensen One was clear optics are not a sidecar to the AI buildout. And just so we know Nvidia own it, don't trade it, okay? Now once that happened, investors started looking for the next winners in the optical stack. And that brings me to light wave logic. Now this is a stock that Michael in New Jersey called to ask about last Wednesday during the lighting round. I did no light wave, but I saw that its stock was white hot up more than 1000% over the past 12 months and I was intrigued. Within videos deals for Coherent and Lumentum, Lightwave Logic has jumped from $5 below just entering March to $11 and change, gaining more than 7% alone today. And look, I can see why this thing has caught fire. The company develops electro optic polymers that convert electrical signals into optical signals more efficiently than traditional inorganic materials. So let me give you how it works. A little science lesson here. One of the key parts inside an optical link is the modulator, the device that takes an electrical signal and imprints data onto light. Traditional silicon modulators come with tradeoffs in speed, power and signal quality as data rates climb. Instead of relying on silicon, lightwave uses a material which has optical properties that change directly when electric field is applied. That means faster switching lower voltage and smaller devices. Now that's all very advantageous when you're putting up data centers. There's a real bookcase here. If light waves material can be integrated into a existing silicon photonics workflows, this doesn't have to be a company that sells one box or one component at a time. I want you to think of ARM holdings based business model, a materials and IP company that gets designed into ecosystems and then earns licensing revenue as customers adopt their technology. In March, Lightwave announced a development agreement with Tower Semiconductor to bring its high speed low power modulators onto Tower silicon photon photonics platform targeting next generation architectures. Few days later announced a modular platform is on Global Foundry silicon photonics platform, which means designers can start using it in chip layouts. These are major players in semiconductor manufacturing. If Lightweight can get its modulator technology into standard design flows at major foundries, that changes the conversation. Rather than being a company trying to cold call every customer in the world world, they'd have the possibility of becoming an option inside a broader ecosystem that customers already use. So at the right price. At the right price, okay, I'd be willing to endorse Lightwave Lodging. The problem is I doubt this is the right price. So stop pulling, don't buy in the third market. Just listen to me. The stock story made incredible move. Development agreement is not the same thing as volume production. Being an option in a foundry is not the same thing as being chosen by a customer. Customers still have to design around it, tape it out, validate performance and eventually make a production design decision. So yes, the foundry progress matters, but it only means Lightwave has its foot in the door. It doesn't mean the light has already walked through it. This matters even more when you look at the financials this company generated just 159,000 in revenue last quarter. It's now valued at over $1.7 billion after the stock's recent run. And of course they're losing money, which is why Lightweight is often dismissed as a science project. If a married couple made 159,000 in a quarter, they wouldn't even be in the top tax bracket. So it's hard for me to recommend this as a nearly $2 billion company when it's losing money making a couple hundred bucks, 100,000 bucks in revenue, even if the story is real and just beginning to get etched into the supply chain. That's why I'd rather stick with Coherent or Lumentum. Although you missed an nice part of the run there. Or buy. You know what, buy some Nvidia. That's the best, cheapest way to play is the best AI theme, Photonics included. Again, Jensen was ahead of everyone here, just like he was on Memory last year. The man leading the revolution is going to see where the puck's going before Wall street analysts or a hedge fund. There's a reason Coherent Momentum called fire in them. Nvidia's trading just 18 times. Next year's earnings estimate represents deep value versus lightweight logic. It was down today because there was a rumor that was going to buy a PC company. Huh? That was untrue. It was a story in some sort of press outfit. Untrue. Putting the other options aside though, there are real challenges for Lightweight. I won't pretend to be an expert photonics, but we don't really know if the company's proprietary material stays stable over time or if it can be manufactured consistently like silicon wafers are. Lightweight has made some progress on the reliability front, but it's still a long way from having years of reliable high volume field performance and actual deployed systems. Not trying to throw cold water. I'm just trying to tell you that this is tougher. See, where does this leave us? Look, I like the theme a lot. I think the market's right that optics will matter more as a infrastructure scales up. I think the scramble to secure lasers, transceivers and photonics components is real. I also think there's a serious long term opportunity for somebody that can help deliver higher speed speed and lower power to the data center at a reasonable cost. And that's why Lightwave keeps getting attention. The problem is this. This stock has already run as if the future settled. It's going to run like Marvell Technology. Another great winner in this in the sector. And I'm not sure that's the case. See, even though this is one of the hottest and most important themes in the market, I have a hard time telling conservative investor to chase Lightwave here. This is the kind of name that can absolutely keep ripping. I get that this theme isn't going away anytime soon. I get that it's part of the fourth industrial revolution. I get that too. But when a stock has gone up tenfold in a year and the business is still in an incredibly early stage, losing money with very little revenue, I think some discipline should matter. You don't have to hate the technology just hit. The stock may have gotten ahead of itself. We don't even know how difficult it is to mass produce this product. So here's the bottom line. If you like what you've heard about lightweight launch again, okay, I gave you some stuff to like, keep it on the watch list, I think. But after such an incredible move, I think there are better, cheaper ways to play this coherent momentum and especially in video. Tomorrow morning, let's go to Horace in Florida. Horace.

[Caller/Listener]

Good afternoon, Jim. This is Horace Maroochy calling from Pompano Beach, Florida.

[Jim Cramer]

Oh God, I thank you for calling, my friend. Thank you.

[Caller/Listener]

Sure, sure. My question is regarding super microcomputers. I bought SMCI from my grandkids back in January based on strong financials and what appeared to be undervalued Stock. In a 20th of March, top management got indicted for illegal shipments of $4 billion worth of Nvidia chips to China. But that was the hell. The Stock went down 30% on the 20th, 20th of March. Now what do I do? I need your help. Okay.

[Jim Cramer]

No, I. Look, I think it. Sir, first of all, thank you for being candid enough. Most people would say, you know, I bought it at the low. I thought it was great to hear. I know it's painful, but here's my take. It's going to bounce probably to 30 and then I need you to get out of it because accounting irregularities in my book equal sell. I'm not going to change my rules. I need to go to Bernie in California. Bernie.

[Caller/Listener]

Hey, Mr. Kramer, thank you so much for everything you do for us.

[Jim Cramer]

My pleasure.

[Caller/Listener]

Thanks to you, my retirement account, my. My brokerage account are all very profitable. I really.

[Jim Cramer]

There we go. There we go. Thank you so, so much. I really appreciate it.

[Caller/Listener]

So my question is, I have a stock that I purchased through your recommendation last December. It's up over 90%, but I noticed that PE was around 55. I'm talking about GLW.

[Jim Cramer]

Yeah, Corning okay, so here's the problem. You know, we own it for the Travel Trust. We think that next year, in the year after, the estimates are way too low because we think that glass, that fiber is going to take over the whole data center. And that's why we like Corning. We're going to talk about this at Thursday's club meeting, and I'm going to kick it around with Jeff in real time to show you how we make our decisions because that's what we're all about. Thank you for the kind words. That makes me feel great because I, you know, a lot of times I struggle what am I doing here? You know? And the answer is I'm making it so that Bernie's having a great retirement. I did good, Mom. Lightwaves had an incredible move. That's why I'd stick with Coherent or Lumentum. Don't forget, Nvidia pushed down because of that bogus story. Probably trying to get somebody to sell it so they can buy it. Now, much more me at MONEY had, including my exclusive, a sports betting group, super group. Are you going to like this one? Then lots of stocks bounced today seemingly out of nowhere. Or was it? I'm taking a look at the names and telling you why I think they moved higher. And all your calls, rapid Fire. Tonight's edition of the Lightning Round. So stay with Kramer. All right. Over the past several months, the online gambling stocks, they've been clobbered. Draft kings down 54%, flutter down 66%. They're besieged by the leading prediction marketplace, Kalsi and Pie market, which have found ways to get into something akin to sports betting without all the regulation. But before you give up on the entire industry, maybe you should take a look at Supergroup, which owns Betway for online sports betting and Spin for online casino gaming. This thing came public via a SPAC merger that was closed roughly four years ago. And the stock struggled to follow client's footing initially. Then in mid 2024, SuperGroup decided to throw in the towel in the US market, focus on the rest of the world. That's one reason the stock has more than tripled over the last two years. The other reason being that they keep putting up strong numbers. So let's take a closer look with Neil Manashi. He's the CEO of Supergroup. To learn more, welcome to Man.

[Neil Manashi (Supergroup CEO)]

Thank you for having me.

[Jim Cramer]

Okay, so we were first introduced to your company by Eric Rubman, who at that point, point CEO, and he told us, look, we're going to be different. We're Going to try to make a lot of money. Was very aware that other guys were trying to lose a lot of money. That's what you would say. What is the difference between you and the ones that we just mentioned?

[Neil Manashi (Supergroup CEO)]

Listen, we've been doing this for two and a half decades and we've built this business by making cash flow and profits every single year. So what you see in Supergroup today is two and a half decades later of return on market marketing expense.

[Jim Cramer]

Well, how did you know to get out of the U.S. you know we

[Neil Manashi (Supergroup CEO)]

only go to markets where we see a path to profitability. We tried the U.S. we really tried, we tried to compete and we realized that actually all our resource was going in the US and we're never going to make profit. So we decided rather just let's just call it a day.

[Jim Cramer]

Okay. It sounds like you go to markets that other people may say listen there's not, not a lot of opportunity. But that's wrong. Key market Africa is a growth driver is Africa.

[Neil Manashi (Supergroup CEO)]

So we the giant of Africa. So Africa we in eight African countries. So we do the most revenue of.

[Caller/Listener]

Of.

[Neil Manashi (Supergroup CEO)]

Of anyone in Africa. And we focus on markets where we have a brilliant product, brilliant back office and, and the retention of our customer base. So Africa's biggest, Canada's big. The UK we big. So it's all about markets where we see profitability.

[Jim Cramer]

These sound like all places that love international football. And you have the World Cup. This would be with many games. Will these games attract gamblers?

[Neil Manashi (Supergroup CEO)]

Yes. So obviously sports betting funny enough is only 20% of our business. 80% is casino. But in the sports, football, soccer we are, we are the leaders when it comes to marketing of that. We all over the English Premiership, the, the Italian League, La Liga. So it's all about the engagement in, in football but we have lots of bets on the parlays especially in Africa where it's multiple. So the World Cups going to be super interesting because they 48 teams. So it's going to be really interesting. And the amount of content we'll have

[Jim Cramer]

now with that ratio of. Of gaming I gaming versus these games that we just talked about. I think the prediction markets would necessarily. They all came in against you. They're not, they're not playing. You are.

[Neil Manashi (Supergroup CEO)]

No, they're not playing. Remember the predictions is really a nuance on American law.

[Jim Cramer]

Right.

[Neil Manashi (Supergroup CEO)]

With federal and state. We don't have that in any other market that we operated. You know you have to have a gambling license if you in predictions and our offerings are as a sports book are Fundamentally different to the predictions market overseas.

[Jim Cramer]

They were exciting to begin with and then they just seemed like to be. I mean, could the same thing happen in our market?

[Neil Manashi (Supergroup CEO)]

I think it's because of this nuance in federal and states.

[Jim Cramer]

That's what it is.

[Neil Manashi (Supergroup CEO)]

That's all. This is a play on. It's a play on. Will the Fed federal.

[Jim Cramer]

It's an arbitrage.

[Neil Manashi (Supergroup CEO)]

Total arbitrage. Really.

[Jim Cramer]

Wow. I wish, you know, that's.

[Neil Manashi (Supergroup CEO)]

Listen, we're not in America anymore, so.

[Jim Cramer]

Absolutely. Okay.

[Neil Manashi (Supergroup CEO)]

I'm building our sportsbook.

[Jim Cramer]

Okay. So I was fast. I know it's a very small part of your business. I was completely fascinated with your stablecoin business. South Africa makes a ton of sense. Yeah. I mean, all over the world. We should have it, right?

[Neil Manashi (Supergroup CEO)]

Yes. So we're trying with South Africa because we really are. Our market dominance is really good there. So it's going to take time with. With us. Zau Stable Coin. Let's. Let's see how we go. It launches in the next few weeks and it's about the adoption of our customers onto that sponsorships.

[Jim Cramer]

Right.

[Caller/Listener]

That way.

[Neil Manashi (Supergroup CEO)]

Big.

[Jim Cramer]

How's it work?

[Neil Manashi (Supergroup CEO)]

So how it works is we have one brand betwise, you know, globally. So we can sponsor these teams and you get the global audience. So we sponsor once and then we go obviously localized marketing. So you know, of our marketing budget. I always tell people this. Of our $500 million a year, we don't spend it all on sponsorships. We spend 15, maybe percent or 20% on sponsorships.

[Jim Cramer]

Okay, look, I was talking in the office. I said, we came in and I was doing my research and I know that because of Eric Goodman, who we know from the show. I better have the numbers. Right. You guys make a ton of money.

[Neil Manashi (Supergroup CEO)]

Yeah, we made a ton. Last year we made $560 million of EBITDA. This year we said we'll make 680 million. But here's the key. 70 to 75% free cash flow from there. That's the key.

[Jim Cramer]

Well, do you think that your company's stock has been hurt by the fact that it was a spac?

[Neil Manashi (Supergroup CEO)]

No, I think it's hurt by the fact is that they. We think that predictions can affect us

[Jim Cramer]

in the U.S. but that's ridiculous.

[Neil Manashi (Supergroup CEO)]

We're not a U.S. business. Don't discount us because we don't have U.S. business. That's not. We're an international business outside of the US and there's a ton of money to be made.

[Jim Cramer]

Well, look, one of the reasons why I wanted to have you on one is because you're not nailed by predictions and you're not nailed by the different rules you got out of the States. It was a bold move. I mean I'm sure there were people when you got out and said these guys are towel throwers.

[Neil Manashi (Supergroup CEO)]

No, I think that just as I always said, if we cannot see a path to profitability, we did the same in Europe. We got our certain markets in Europe.

[Jim Cramer]

And what bothers me again is that like if you're trying to get into Nigeria, that could be a great market. There's millions of people there. You have to pay ahead. It isn't like you're like blending people and it's like you know, listen, I'm going to lose a lot of money on it now.

[Neil Manashi (Supergroup CEO)]

So all these markets is all about return on marketing. And we've got the product, we got the teams and they've got the teams in the continents to be able to compete.

[Jim Cramer]

And these versus say Illinois are low tax jurisdictions.

[Neil Manashi (Supergroup CEO)]

Yeah, they are lower tax jurisdictions. Absolutely. And it's not only about the tax jurisdictions. It's all about do you have to have access by land based partners and in all the markets win? We don't. And that's a big difference to the

[Jim Cramer]

U.S. okay, I have to tell you that the stock price as I did not when Eric came to me and said have you looked at it lately didn't try to influence me but the stock's too cheap.

[Neil Manashi (Supergroup CEO)]

I think so we are cash machine. We continue to grow dynamic and we want to exceed expectations.

[Jim Cramer]

Well, I think I'm glad you followed up and came on. I know the stock is up huge from when first came on but congratulations. At 54% but it's still pretty darn cheap. That's Neil Manashi. He's the supergroup CEO. Sghc. What can I say that money's back everybody.

[Jim Cramer (Host)]

Coming up, you've got questions. Kramer's got the answers. Get charged up for a fast fire lightning round. Next.

[Jim Cramer]

It is time. Shout out to the light router event rapid bye bye bye solstice under the car planner. My stepper is William Flint. And then the lighting round is over. Are you ready Ski dad ton light on Kramer. Let's start with Dan in Virginia. Dan Kramer.

[Neil Manashi (Supergroup CEO)]

How you doing?

[Caller/Listener]

Thanks for taking my call. And a quick shout out to my amazing wife Jenny.

[Jim Cramer]

Absolutely. Jenny rules.

[Caller/Listener]

Jenny does rules.

[Jim Cramer]

She does.

[Caller/Listener]

Thank you for saying that Kramer. Big and so I'll get straight to it. I want to know about new stock, new bank.

[Jim Cramer]

It's okay. I mean look, we Just had Goldman Sachs report a quarter. That was unbelievable. The stocks down. I would take advantage of the fact that that stock is down and pick up some Goldman sachs. Okay, down 17. Not bad. Let's go to Maya in New Jersey. Maya. Hi Jim, this is Maya from New Jersey. I'm a little to investing but my fiance, he's a member of your investment club and he's mentioned you're a pretty good resource. So my question today is about Red Cat. Okay, you know look, we, we don't mind the drones. I know that Ben Stodo has been following this Red Cat closely. My problem is they're not making a lot of money. I think there are others that are better. I think it's a good spec. How about that? It's a good spec. All right. Let's go to Lewis in New York. Louis. Hey Jim, appreciate being on the show tonight. This chemicals company is. Thank you. It's tied to Semis via their electronics business and it outperformed the S and P meaningfully this year. Jim, may I have your thoughts on Element Solutions Inc. Yes, I like it. We profiled it. We think it's very, very good company. We ourselves are in quiddity. That's letter Q. If you want to. We're going to talk a little bit. There are Thursday meeting but I think, I think Element Solutions is good. That's all Martin Franklin company. Let's go to Jay in Florida. J.

[Caller/Listener]

Hey Jim, currently I'm up 30% on this stock.

[Jim Cramer]

I want to know whether to hold, buy or sell Stonex company. I don't know Stonex. I should know. I should know but I don't know why I tell you. Let's go to Leo in Texas. Leo.

[Caller/Listener]

Hi Jim, thanks for taking my call.

[Jim Cramer]

What's going on?

[Caller/Listener]

So not much. So this is definitely a spec stock. I'm a physician. This thing caught my eye back in February after its ipo. And so they've come up with a very unique hair product for hair growth. And it's basically a long acting oral minoxidil without the blood pressure lowering effect.

[Jim Cramer]

This is for alopecia. It's for alopecia. Look, it's. No one's ever been able to solve alopecia. Now I will tell you this. What's the stuff? What's the stuff? Varodermic. Varodermic? Yes, Alopecia. Okay, here's the problem with that. Never been solved. Always supposed to be right around the corner. It's a very risky stock. But I have to tell you if it can be solved it's worth double. So it's double or nothing with M A N E. All right. That, ladies and gentlemen, is the conclusion of the Lightning Round.

[Jim Cramer (Host)]

The Lightning Round is sponsored by Charles Schwab. Coming up, how real is the current bounce we're seeing in software stocks? Kramer's analyzing what he sees and letting you know if now is the time to buy next.

[Jim Cramer]

If history teaches us anything, any stock can bounce. Today we saw a bounce in the software stocks that have been crushed by the idea, and in some cases only the idea that they will be annihilated by artificial intelligence. They've been dragged down because they're all represented in the silly iShares software ETF, the IGV, which has been used and abused to bet against anything even tangentially related to software. Some stocks belong in the index, of course. For example, take a look at Microsoft textbook software stock. It's been pretty much straight down since its peak last July at 555, but it did jump 3.6% today. Did anything happen this weekend justified today's rally? No, that got a negative piece this morning about how the private Colossus open AI has been pushing business away from Microsoft and toward Amazon because its customers want to go. They're incredible given how close they were at one point. But it's right that Microsoft stock's been clobbered. They're not looking much like an AI Net winner right now. No matter. It's enjoying its first swamp in ages. Enjoy it. ServiceNow is finally in the black for the day. It's got an expanded buyback and CEO bought a ton of stock at much higher price. It's been a chronic underperformer, still down 42% for the year. It can go higher. Salesforce is fighting back too, with a $50 billion buyback and half of that being done on accelerated repurchase basis. This buyback should not be ignored. Represents one third of the company's stock at these levels. Stock finished up $7.86 today, or 4.7%, but it's still down 4 34% for the year. Both ServiceNow and Salesforce have some businesses that should be that should be disruptible and others that aren't. If you have any division though, that is disruptible right now, Wall street is merciless to your stock. Oracle, the builder of so many data centers and iconic enterprise software play, jumped nearly 13% today, which is a healthy sign given the previous trajectory. Stock's been pretty much straight down from $345 to $140,45. Almost a complete round trip for when an announcer was going into the datacenter business in the first place. Again, some parts of Oracle are disruptible, others aren't. There are two stocks of companies that shouldn't even be grouped with the rest of the software industry at all. What are they doing in the index? The cybersecurity companies Crowdstrike and Palo Alto Networks. They have nothing to do with traditional software at all. And the businesses are actually turbocharged by AI. That's right. AI isn't gobbling them, it's to supposed porting them because it creates so many new vulnerabilities that hackers can exploit. That's why CrowdStrike stock was up 6% today. Palo Alto plus 4.35% but they're well off their highs. Nowhere near them. Finally, there's the crazed inclusion of Palantir, an AI consultant that can't possibly be duplicated by the companies. Not at all. Yet its stock has been lined because this become the largest in this index. It didn't rally much today. I expect to go further tomorrow. Now, once the street sees that these stocks are rallying, you'll hear their analyst cheerleaders come out and buy bull them up. That's the nature of stocks that get crushed. They get sold and sold and sold until they're oversold and then they bounce for reasons that are not readily accessible. Next thing you know the analysts come out of their foxholes and they fire for effect. It works if you want to sell them. Wait for the rebound reaction. Please. Should be major. I've mold this narrative over and I think we should come up with our own index of software companies that are being disrupted by AI with another index of companies that are being turbocharged by AI and a third for the ones that are disconnected from AI altogether. And I think maybe that's what we're going to do. Take a little time. If we do that we can identify opportunities stocks that have been knocked down as collateral damage even as their businesses won't be disrupted at all or will be turbocharged. Those are the ones that can return to their old levels. Stay tuned. A little more complex than you thought. I thought we just like that. But it'll be done right in the teeth of the the rally. Just in time for you to make your best move. I like to say as always more market somewhere and I promise I find it just for you. Right here on Monday. I'm Drew Kramer. See you tomorrow.

[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 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 this is the

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[Jim Cramer]

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