Mad Money w/ Jim Cramer 6/10/25

Summary

Mad Money w/ Jim Cramer - Episode Summary (June 10, 2025)

Host: Jim Cramer
Produced by: CNBC
Release Date: June 10, 2025
Duration: Approximately 47 minutes

---

1. Market Overview

Jim Cramer opens the episode by analyzing the current state of the stock market. He highlights a "fractured two-track market," emphasizing the divergence between stocks covered by analysts and those that aren't.

“Maybe that's why we've got such a fractured two track market.”
[01:00]

He notes a positive day for major indices:

• Dow Jones: +105 points
• S&P 500: +0.55%
• Nasdaq: +0.63%

Cramer underscores the importance of providing valuable insights to both younger and older viewers, acknowledging the differing interests between these demographics.

---

2. Younger vs. Older Investors' Preferences

Cramer delves into the contrasting investment preferences between younger and older investors:

• Older Investors: Focus on well-covered, large-cap stocks like Disney (DIS). Cramer praises Disney's comprehensive coverage and its diverse business segments.

  “It's Disney for everything. Who doesn't want to know about that?”
  [04:30]

• Younger Investors: Gravitate towards lesser-known, high-growth sectors such as cryptocurrencies, nuclear energy, and quantum computing. They favor stocks with high trading volumes but limited analyst coverage, often discussed on platforms like Reddit.

  “A lot of younger people tend to get excited about, well, stocks that aren't even covered by analysts or the mainstream media.”
  [07:45]

Cramer expresses frustration with the lack of Wall Street coverage for these emerging sectors, emphasizing the need for more in-depth analysis to serve younger investors better.

---

3. Highlighted Stocks: Crypto, Nuclear, and Quantum Computing

a. Cryptocurrency-Related Stocks

Cramer discusses companies like MicroStrategy (MSTR) and Coinbase (COIN), highlighting their appeal to younger investors due to their direct involvement with digital assets.

“It fascinates his cohort because it's a vehicle that buys crypto endlessly, often with borrowed money.”
[08:30]

b. Nuclear Energy Stocks

He identifies the resurgence of interest in nuclear energy, driven by the high energy demands of data centers.

“They can't put them down. That's because the data centers use so much electricity that nuclear power is coming back.”
[12:00]

However, Cramer is cautious, pointing out the long timeline for actual reactor construction and preferring companies like Nova that focus on building infrastructure.

c. Quantum Computing

Cramer is particularly enthusiastic about quantum computing stocks, citing substantial daily trading volumes despite minimal media attention.

“They are insanely popular among young people trading tens of millions of shares a day.”
[15:00]

He mentions companies such as D-Wave Quantum (DVQ) and IonQ (IONQ), advocating for increased coverage and research into their potential.

---

4. Spotlight on Casey's General Stores

In a dedicated segment, Cramer interviews Darren Rebellas, President & CEO of Casey's General Stores (CASY), focusing on the company's impressive performance and strategic growth.

Key Highlights:

• Product Quality: Emphasis on making pizza from scratch with high-quality ingredients.

  “We use high quality ingredients, it's made to order and when you do it the right way, it just, it's just delicious.”
  [35:12]

• Expansion Strategy: Significant growth in markets like Iowa and Texas, with substantial white space remaining.

  “We have white space for days.”
  [39:00]

• Financial Performance: Sustained EBITDA growth and resilience despite economic challenges like inflation and supply chain disruptions.

  “We've been able to sustain these results over many, many, many years.”
  [36:32]

Cramer praises Casey's for its clear vision, strong leadership, and effective execution, positioning it as a robust investment opportunity.

---

5. Interview with Cisco's CEO Chuck Robbins

Cramer engages in an in-depth discussion with Chuck Robbins, Chairman and CEO of Cisco Systems (CSCO), focusing on Cisco's strategic moves in the AI and networking sectors.

Key Topics Discussed:

• AI Infrastructure: Cisco's role in building secure, scalable AI data centers.

  “You need heavy duty networking equipment. That's why... we're the only company that has both networking and security.”
  [19:37]

• Recent Acquisitions: The integration of Splunk to enhance real-time data analytics and network security.

  “We believe we can actually provide more insights to our customers based on what's happening across their technology infrastructure.”
  [20:30]

• Product Refresh: An entire refresh of Cisco's enterprise networking portfolio, including switching, routing, and wireless access points with integrated CPUs.

  “We've announced an entire firewall portfolio that's completely refreshed.”
  [21:12]

• Global Partnerships: Collaborations with international entities like G42 in the UAE and Humane in Saudi Arabia to expand AI infrastructure.

  “We signed several deals one with G42... and another with Humane.”
  [16:26]

Robbins highlights Cisco's commitment to innovation and adaptability in the rapidly evolving AI landscape, positioning the company for sustained growth.

---

6. Lightning Round Highlights

In the high-energy Lightning Round, Cramer addresses quick queries from callers, providing succinct investment advice:

• Honeywell (HON):

  “I prefer to see this stock between 200, 220 and 215 because I think that a lot of the industrials right now, they've gotten a little too hot.”
  [23:08]

• CoreWeave:
  Caller Jerry seeks advice on CoreWeave, a GPU rental company.

  “That's the way you do it. ... Glad you made a ton.”
  [23:25]

• Joby Aviation (JOBY):

  “Mr. Joby's real. I think Arch is real. ... Joby's okay.”
  [41:25]

• ARM Holdings:

  “Rene Haas used to work at Nvidia. They are very tight together.”
  [42:29]

Cramer emphasizes the importance of thorough research and cautious optimism, especially when dealing with high-volume, low-coverage stocks.

---

7. Discussion on Generative AI Capabilities

Towards the end of the episode, Cramer critiques the current state of Generative AI, specifically chatbots like Grok, Perplexity, Claude, and ChatGPT.

Key Points:

• Strengths: Excellent for summarizing information and providing general insights.

  “... when I try to learn a half dozen news stories a day, the summaries of the conference calls and a simple prompt... are where these AI platforms really shine.”
  [43:43]

• Weaknesses: Poor at handling complex arithmetic and investment calculations, often providing inaccurate results.

  “They can't handle this stuff. It's too hard for them.”
  [47:00]

Cramer underscores the necessity of manual verification for critical financial calculations, despite the advanced capabilities of AI platforms.

---

Conclusion

Jim Cramer wraps up the episode by reiterating the importance of understanding market trends, catering to diverse investor bases, and leveraging technology effectively. He encourages listeners to stay informed, conduct meticulous research, and remain adaptable in their investment strategies.

---

Notable Quotes with Timestamps

1. Fractured Market Insight:

   “Maybe that's why we've got such a fractured two track market.”
   [01:00]

2. Disney's Comprehensive Coverage:

   “It's Disney for everything. Who doesn't want to know about that?”
   [04:30]

3. Young Investors’ Preference for Uncovered Stocks:

   “A lot of younger people tend to get excited about... stocks that aren't even covered by analysts or the mainstream media.”
   [07:45]

4. Quantum Computing Popularity:

   “They are insanely popular among young people trading tens of millions of shares a day.”
   [15:00]

5. Casey's Expansion Strategy:

   “We have white space for days.”
   [39:00]

6. Cisco's Unique Position in Networking and Security:

   “We're the only company that has both networking and security.”
   [19:37]

7. Generative AI Limitations:

   “Let me give you just a perfect example... They can't handle this stuff.”
   [46:00]

---

Final Thoughts

This episode of "Mad Money" provides a comprehensive analysis of current market dynamics, bridging the gap between traditional and emerging investment interests. Through insightful interviews and candid discussions, Jim Cramer equips viewers with the knowledge to navigate the evolving financial landscape effectively.

Transcript

[Jim Cramer]

As America's leading business lender, bank of.

[Unknown]

America is on your corner and in your corner.

With $215 billion in business loans and.

Over 3,700 business specialists across the nation, we help businesses thrive so communities prosper. What would you like the power to do? Learn [e-mail] LOCALBUSINESS bank of America Official.

[Jim Cramer]

Bank of FIFA Club World Cup 2025 Copyright 2025 bank of America Corporation.

[Unknown]

All rights reserved. Have you heard AT&T Fiber with all fi is coming soon. We're talking Internet speeds up to five gigs and wi fi that reaches more corners of your home. Perfect for turning your basement into a streaming zone or your attic into a gaming cave. Sign up for updates and be the first to know when it's available near you so you can start living like a gigillionaire. Limited availability may require ATT extended WI fi coverage. Visit att.cominternet fiberiscoming for updates. Wired speed maxim 4.7 gigabits per second. Speeds vary, not guaranteed.

[Jim Cramer]

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Cramerica. I've been with my friends. I'm just trying to make a little money. My job is not just to entertain, but to put it in context. So call me at 1-800-743- CNBC. Tweet me. Im Craver. If you have analysts covering your company, those analysts have expectations. And if you miss those expectations, your stock goes down. But if you have no analysts covering your company, then there are no estimates. You don't have to worry about the fundamentals. So your stock can fly up on gossamer wings with no analyst ending in sight. And maybe that's why we've got such a fractured two track market. All aboard. We see it every day, especially these kind of mildly positive days with Dow vest 105 points. S&P gained 0.55%. Nasdaq climbed 0.63%. Not bad. Now this morning I was talking to my colleagues Carl Kentucky and David Faber about providing value to to our viewers so that you have to watch us. If we don't, one day we will find ourselves out of job watching Fresh Face anchor simulations, reading the news about the stocks I am about to go over because it's what you want. I mentioned that our younger viewers and older viewers tend to focus on very different things. So we need to recognize the two track market. But we got to embrace it, can't reject it. My colleagues were clearly amused by the idea. But then we pivoted to interviewing Bob Iger, CEO of Disney who traced out his plans. Now that the company owns all of Hulu, the Stock was around $115 when Iger started talking, and by the end of the interview, at least partly by the day, it was at 118 and change. That's a tour de force performance, the kind of value added this network proudly provides. I felt great about it, but I could feel the contempt that many younger investors have for what I think is a very strong kind of journalism, for where we flesh out what really matters to an iconic big capitalization stock that has everything to do with linear television, espn, exciting movies, cruise ships, theme parks. Now it's Disney for everything. Who doesn't want to know about that? Well, how about the people who just stopped going to Disney World with their parents and it's the last place they would ever be called dead at. What do they want? Honestly, I don't know if young viewers necessarily want anything from us at all. We are people who shine light on things and sometimes they don't want light shine. I think they prefer the obscurity their stocks dwell in. A lot of younger people tend to get excited about, well, stocks that aren't even covered by analysts or the mainstream media. Instead, you know, where they covered by Reddit. And then it's done in the most cursory cheerleading way, which is unfortunately what many of these people want to see and I know I can't do. For me, Reddit's very important as a resource for what people care about. But, but the younger court seems to take what they say as gospel. So let's go over what they like, what maybe you're fascinated by what so many of you are wanting to let's say bye bye bye before they take off. First, the important groups, the ones I'm asked about all the time in lightning round one is anything crypto right? For they love. Mr. That's what we used to call it MSTR, now MicroStrategy, now Strategy. It fascinates his cohort because it's a vehicle that buys crypto endlessly, often with borrowed money. Now a lot of people Wish they were MicroStrategy doing the same thing. Same with Coinbase, some of the newer brokers that I'm profiling later tonight, so stay tuned. But the new one, the Circle Internet group, is loved because it's a pure play on digital assets. It's talking about digital currencies, blockchains, the works of every buzzword imaginable. But what they're really interested in are stocks that don't get coverage even as they trade millions and millions of shares every day. Look at the volumes of these things. We all ought to be talking about them constantly. Stocks like Hut 8, riot platforms, clean Spark, Cipher Mining and Galaxy Digital Holdings. Now let me just say that these are all fascinating but unknown companies to me. Except for Galaxy Digital, which is run by Mike Nogass. Here's. Here's a company specializes in all the stuff that young investors can't get enough of. Digital assets, cryptocurrencies. Blockchain Michael pops up on Squawk Box. He's incredibly articulate, as you'd expect from a former part of both Goldman Sachs and Fortress Investment Group. He's basically a good guy. When I think of this cohort, I wonder why we don't devote hours to this stuff. Because there's a hunger for it like no other I've ever seen. Any stock that trades 10 million shares a day is worth covering. But there's no analyst covering them. Nobody knows any about them. Wall street ignores them entirely. Now that the IPO windows open again. I believe we'll see dozens of these companies come public. And they'll continue to go uncovered because they have no pedigree and no sponsorship. It's amazing how irrelevant they are to the older folks, even as younger vestors can't get enough of Hut 8. Then there's the nuclear cohort. Sure, we know Vista, we know in Constellation Energy, the big Nucleus. But every day we see that Oclo and that Cameco, that PW X1 asked about that list of technologies. Centrist, Talent, Energy, Next Gen. These are the ones that have people excited. They can't. They can't put them down. That's because the data centers use so much electricity that nuclear power is coming back. In reality, though, there will be no nuclear reactors for at least five years. The stocks that people want are not stocks that I find investable. I prefer Nova because they're the ones that will build the reactors. And it's what I call a real company. But this crowd is repelled by the truth they refuse to believe in and simply think I'm trying to keep people out of fantastic stocks, little stocks. I'm not. I just think that builds new plants and that's a good way to play nuclear power building. I mean, why? My trust owns it. Finally, we've got the ones that I find is most controversial. Quantum computer placement. These stocks are insanely popular among young people trading tens of millions of shares a day. I own Q D Wave, Quantum rigidity Computing. Quantum computing. They're incredibly popular IonQ traded 30 million shares today. D Wave Quantum traded 60 million shares today. Getty, 61 million shares. Quantum Computing, 65 million shares. That is insane. Not the volume, but the fact that there's so much demand for these stocks, yet most of the media and the financial industry pretends they don't exist. I don't want to do that anymore. Of course, there's very little known about them and little analyst coverage. You have to do an immense amount of homework to figure them out. And after all that work, you might just discover it's meaningless because quantum computing, like nuclear power, is. Is years away. But you know what? It's worth the effort. It's worth my effort. There are so many of these companies and so much opportunity for the one or two that actually make it. But let's get the other way. Let's talk about what old folks were interested in. There's a company called J.M. smucker. It makes coffee and jams and pet food. Uncrustables, Twinkies. It's covered by 15 different firms, forgetting no firms. 15 different firms. It's real. We've all bought their stuff. Two years ago, right at the time that the GLP1 drugs came of age and we went nuts for the weight loss shots. JM Smucker didn't seem to notice. They ran into the fire. They bought Hostess. That's right, Hostess, maker of Twinkies, for 5.6 billion in November of 2023. Today they took a $980 million impairment charge for that transaction. I doubt that'll be the last one as Twinkies and Ho Ho's may not turn very well. Let's just say they're going nowhere. They also took a big hit from tariffs and higher coffee costs. Smucker's Talking about a 20% boost in coffee prices. That's not going to help demand. In the wake of the news, the stock plunged more than 15%. Nearly every analyst who covers it had tough things to say about the business. All major firms. Now, do you think any analysts on Wall street cares about riot or HUD 8 or quantum this, quantum that? But you know what? No one, if they report a number, no one's going to be disappointed. I mean, there's 15 analysts in smoker who are disappointed. How many analysts are in D Wave, Quantum, BW X T? These companies can say and do whatever the heck they want. And they are going to disappoint anyone because there's nobody on Wall street who is watching. You could decry it as the Wild West. You could dismiss these companies as nothing but hype. You could take. Or how about this? You take a company that trades 50 million shares a day and maybe you just try to shed some light on. That's what I'm going to do. Here's the bottom line. I think relevance dictates that we cover the companies that are treated as irrelevant or even pariahs by the graybeards around here. It isn't true that no one cares. Cares. I fear everyone cares except those of us on Wall Street. We have to do better about Nuke, about Quantum and Crypto because our younger viewers deserve better. Or we risk your just plain old irrelevance covering Smuckers. Avoiding the Regatti's. Not my stock going forward. Bill of Massachusetts. Bill. Jim, I need your opinion on Honeywell. Do you think I should pick some up before the split this. But something happened for a long time, sir, and the stock just had a run. Had a very nice runoff at 218 to 26. I prefer to see this stock. You buy the stock between 2. I'd say 200, 220 and 215. Because I think that a lot of the industrials right now, they've gotten a little too hot. But I do like the stock very much. But the splits really in. It's in Splitville Purgatory. Let's go to Jerry, Massachusetts. Jerry. Booyah, Kramer. Booyah. Jar. I'm long time, long time here. I have a question on the stock core weave. I bought in a position, full position for me at just over 40 a share and I'm not quite sure what to do with it. Here I am. I am. You sell half of it tomorrow morning and then you play with the house's money from now on. You ever have to worry about core weave again and that is the way you do it. And that is the way I was brought up. And I ain't deviating from it. Sell half houses, money rests. Congratulations. You have made a ton. Look, I think that relevance dictates that we shed some light on companies that Wall street analysts don't want to cover just because you want it. Younger people want it. And you deserve it if you want it. Well, man, money. Tonight, Cisco is hosting its annual live event. I'm speaking exclusively with Chuck Robbins, the CEO to hear about the exciting updates. This could be the old Cisco again, which went up and up. At first there was Robinhood, but now we have three similar publicly traded brokerage firms. It's time to dig in. Hell, the names say what they're doing again, more stocks that you might want to own. And what a run we've seen from Casey's General Store sorting after earnings. Should investors take the bite after this thing out of such a big run? Well, you know what? Let's sit down with the CEO and why don't we let you figure out what to do. Stay with crap Foreign.

[Unknown]

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[Jim Cramer]

At this point. We have a pretty clear idea of who's who in the AI food chain. Video for the core GPU chips make technology possible. Look, Broadcom got appreciated for custom accelerators. Coreweave outsourced computing power. We like them a lot. OpenAI perplexity best chat bots, I think. But there's still plenty of market share up for grabs in the networking space. Think the equipment that connects all the powerful servers at the heart of these AI data centers. These are huge clusters of machines. You need heavy duty networking equipment. That's why I was watching when Cisco, the networking powerhouse, announced a bunch of new products for data servers to help them deliver, quote, secure scalable AI infrastructure to drive growth and enable new use cases. For those of you who remember our coverage from Nvidia's GTC event in March, these are the type of solutions that I was talking about when I sat down with Cisco's CEO Chuck Robbins and Nvidia CEO Jensen Moore for a joint interview. So now it's Cisco's revealed some of its latest and greatest products. Let's take a closer look with Chuck Robbins, the chairman and CEO of Cisco. Mr. Roberts, welcome back to Bad Money.

[Chuck Robbins]

Thank you, Jim. It's great to be here. It's good to see you and thanks for the kind words.

[Jim Cramer]

Okay, there is, and I don't mean to compare this wrong, okay, because people are going to say, I'm saying point blank, but there was excitement in the 90s because we knew that there was one company that was going to dominate all of Internet networking. It was Cisco. And it always did, and frankly, it always has. It was the network that became boring, not Cisco. Now it seems like it's happening again, except for this time the customers have much more money. It's real, it's not going away. And you don't need to look any further than what happened to you and in the Gulf. I think you should tell us what happened in the Gulf because it wasn't just about Jensen.

[Chuck Robbins]

Well, thank you, Jim. We talked a lot today at Cisco Live here in San Diego about the fact that networking appears to be cool again and the networking requirement in both the hyperscale, the cloud infrastructure that we're building out, but especially in the enterprise. And we'll talk a little bit about that with these agentic workflows that we're, we're seeing enterprises begin to deploy. But what happened in the Gulf is we, we signed several deals one with G42 to just work more on their, their core infrastructure in the Emirates, in Abu Dhabi. Second piece of that was we were announced as a strategic technology partner as part of Stargate UAE with, with obviously Nvidia, Oracle, OpenAI and, and then also in Saudi they stood up an entity called Humane that is going to be responsible for building the AI data centers in Saudi Arabia. And we're spending a lot of time with them and are going to be a key infrastructure player for them as well. So it was a, it was a very successful trip for us.

[Jim Cramer]

Oh, I think it sure was. I want to talk about something you just mentioned. The chatbots intelligently answering questions. It means you can't have got to have speed, okay. You got to have security. You got a big infrastructure. That's Cisco these days, isn't it?

[Chuck Robbins]

Well, if you think about where we were a year ago, Jim, we really were about chatbots and we were about, you know, efficiency and information queries. And now we're moving into agentic, where tasks get performed on your behalf and these agents will actually communicate with each other. And in order to do so they need an incredibly robust network infrastructure. They need security, they need low latency. And that's where we come in. We do all these things and this is where robotics is going to come in ultimately. And it's going to require an incredibly, incredibly high performance network infrastructure. And as you said earlier, we made probably the largest payload of innovation announcements at one event today than we have in as far back as I can.

[Jim Cramer]

Remember the event today and what you introduced. Will we get to the point where if someone says, you know what a bank, a huge bank says, I want to get, I got to get everything brand new, I'm going to Cisco. That's the stop. Not, you know, look, you know you and I love Michael Dell, okay? We love hp, the terrific guys. We always think I don't know the guys from Super Micro, but they seem like nice people. But we used to go to Cisco in the 1990s, in the early 2000s to figure out what to do. Is it where you're getting the phone call now and just saying, chuck, help me out.

[Chuck Robbins]

Well, the case we made today was that as you get into this agent to agent communication in the infrastructure in the enterprise, you're going to need to be able to do security real time in the network. You cannot introduce latency by sending them to some appliance. And so what we talked about was deep fusion of security into the network. And as I pointed out to our Customers today we're the only company that has both networking and security. And I said none of our networking friends have security and none of our security friends have networking. So if you buy into the thesis that you have to have security fused into the network, then we're really the only player who can actually deliver that.

[Jim Cramer]

Did you know when you bought Splunk this was going to happen?

[Chuck Robbins]

Of course I did, Jim.

[Jim Cramer]

How perfect is Splunk for this time? How perfect was that the brilliant guys that were at Splunk who were really looking to team up with somebody.

[Chuck Robbins]

Well, you know what's amazing is we announced this product today that has a generative user interface that actually gets established as you submit queries. And it actually begins to bring the vision of why we acquired Splunk to life, because we believe we can actually provide more insights to our customers based on what's happening across their technology infrastructure. And so we released a generative user interface today where you can make queries and actually build real time dashboards. And they're querying Splunk, they're querying the traditional network technology. And the whole vision was that we could bring all that to life in an easy way for our customers. And we launched a major part of that today is Cisco.

[Jim Cramer]

So is it observable inside for the customer? Can like the CEO do it or. That's exactly what it's observable. Right?

[Chuck Robbins]

That's what happens is dynamic observability is what it really is.

[Jim Cramer]

Well, I've got to tell you, I think that sometimes because you're not part of, of the semiconductor group and because you're not part of the, the CrowdStrike Palo Alto group. It's just like what you said. The some guys don't have the security, they have the network you're kind of caught between. And yet I think that's about to change, Chuck. I think that what's going to happen is there's going to be a company that knows how to do both, and then there's other companies and you've got to bring them in separately. I think, Chuck, that it's just such an advantage to have one company to be able to do everything now.

[Chuck Robbins]

Well, the other thing, there's two other big things we announced today, Jim. We announced an entire refresh of our enterprise networking portfolio today. An entire refresh, switching, routing, wireless access points, and they're all going to have integrated CPUs in the switching platforms so that you can actually do this security in line with the network. So think about, we haven't Had a full networking refresh since 2017. So that's the first piece. The second piece we also announced were the last few firewalls that we fully refreshed. So we now have an entire firewall portfolio that's completely refreshed. We announced today that firewall logs coming out of Cisco firewalls can be ingested into splunk at no cost. So there's just a lot of stuff that we announced today that we think will, will lead customers to embrace a lot of these new solutions.

[Jim Cramer]

Now I know where we are in the quarter. It may not be kosher to talk about all this stuff, but I have to believe that you're traveling all over the place. The tone of business is much better versus the, the gloom. Like when you're, you know, you're at the business roundtable, you know, at the council and what happens is everyone's talking about gloom. In the meantime, they're doing a ton of business. Right.

[Chuck Robbins]

Well, there's an element of this with, with AI that, you know, CEOs and customers realize that this is moving at a pace like nothing we've ever seen. You reference back to the Internet in the 90s. This is obviously moving at a much faster pace. It's changing more rapidly, it's evolving every in a few weeks. And so to be honest, there's a desire to make sure that you keep up with what's going on and that you're investing into these waves. But there's also an element of if I stop investing and stop doing the things that I'm doing, I have risk because if my competitors continue to invest, then they can create competitive differentiation through this technology. And most companies don't want to allow that to happen. So it's an area where we see investment continuing. It has to be the very last thing anyone would ever consider cutting right now given the importance of this technology.

[Jim Cramer]

Well, congratulations. New products. We haven't that refresh in a long time. That is very good news for long term shareholders because it's going to pay off in multiple years of sales. Chuck Robbins, chair and CEO of Cisco. Chuck, thank you for coming on the show.

[Chuck Robbins]

Thank you, Jim everybody.

[Jim Cramer]

Be back every Friday.

[Unknown]

Coming up, a different kind of retail craze. Kramer's diving into trading platforms Robinhood, Etoro and Webull. Seeing if it's time to buy in amid volatility in the space. Next, how will you shape the future of energy with confidence? What does it mean to deliver affordable and reliable energy for all? From evolving supply and demand to pricing uncertainty? Ey. Understands the disruptions energy companies face and how to drive the outcomes that matter. So whether it's in the plants, at the pipeline, or on the grid, EY's full spectrum of services help energy companies maximize operations to drive profitability and performance. EY shape the future with confidence.

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[Jim Cramer]

Given the insane level of enthusiasm for the IPO of this Circle Internet group, that's a stablecoin issue we just covered. I think it's time to take a closer look at some of the recent trading platforms that have quietly come public over the past couple of months. Because they're so darn exciting. On April 10, as everyone was focused on the Liberation Day fallout, we bull came public via spac. The weird thing about this one was that the company didn't even put out a press release until six days later. Like most SPAC plays, this one started at 10 bucks, but we both shot up to just under $80 on its second day of trading. But close that day at 62 and change. Finish that, we get 26. Oh, it's been drifting down ever since. It's now at 10 and change. Well, we've seen that pattern before. Remember the beginning of this decade? All right. About a month later, on May 4 and May 14, another really popular trading platform, this one's called Etoro, debuted on the NASDAQ with the traditional ipo, and the market lapped it up. Etoro was originally looking to sell 10 million shares at 46 to 50. In the end, they sold 11.9 million shares at $52 above the top end of the range. And the stock did well, very well. It opened at $69.69 on its first day. Nice. Hit a high of $74 and then closed to $67. All right, well cool off a bit at the end of the month. It started running again in June, climbing in the mid-70s for getting clobbered today, falling back to just under 67. Wild Trader Suddenly, if you include Robinhood Markets, we have three publicly traded trading platforms that are incredibly popular younger people. So I think it's closer time. We have to take a close look. Just like I said at the top of the show, we've got to start doing this after all the younger generations are set to inherit something like $100 trillion over the next 20 odd years and I think many of them will put that money to work on these platforms. Not the ones that I grew up with. Let's focus on the ones that are. Yeah, that are now. You know, Robinhood, that's our returning champion. It's best known and best vetted given that it came public way back in 2021. They disrupted the retail stock brokerage industry with their commission free trading model which everyone else eventually moved to that look. We introduced them first be honest because I love their app we saw when we were out in San Francisco. Today Robinhood offers stock crypto options, futures trading as well as many other financial services to US customers while also offering stock trading in the UK crypto trading in Europe. By the way, they've got a great, they have a great IRA program. Their stock's been on incredible role over the past 18 months. And on a more subjective note, I think management's really matured. When we spoke with CEO Vlad ten of earlier this year, I was struck by how big he's thinking. I wish more people in this industry thought as big as Vladimir Lad did. Next we Bull is the youngest of these three brokerage firms. It's founded in 2016 with US operations starting in 2018. Though the company is technically now headquartered in St. Petersburg, Florida, this was originally a Chinese outfit and is still facing some scrutiny for its ties in China, including scrutiny from Congress. We built now operates in 14 markets across North America, Asia Pacific, Europe and Latin America offering trading in global stocks, options and futures. They ditched crypto trading in 2023 as part of the preparation for the SPAC merger that allowed them to come public. But the company seems to be creeping back into crypto now that the deal is closed with a new partnership with an alpha called Kalshi. That's a prediction market firm announced earlier today. People are very excited about prediction markets. To me they seem like DraftKings. What do I know? As for Etoro, this is an Israeli company founded back in 2007. My two brothers, including current CEO Yoni Asia they have operations in 75 countries offering assortment of stock crypto options and futures trading. Etoro also has something unique. It's called Copy Trader. People love this thing but let me give it it lets you passively match the moves of other traders. In other words, it lets you piggyback on somebody else if you don't feel like thinking yourself. So how do these three brokerages, the platform, stack up against each other? First, let's take scale, because scale is often what dictates what's going to win in a brokerage area. At the end of the first quarter, Robinhood at 25.8 million funded customer customer accounts, 180 billion in assets under custody Webull had 24.1 million registered accounts, but it only had 4.7 million funded accounts. Keep that in mind. With 12.6 billion in customer assets, eToro had just 3.58 million funded accounts with 14.8 billion in assets under administration. Robinhood obviously is much bigger than the other two platforms we will and Etoro are roughly the same size. One thing to note here, there's a huge disparity between the total number of Weibo accounts and much the much smaller number of accounts that have any money in them. Now, what about the financials? We just want to look at revenue growth and some measures of profitability, but comparing the three companies, apples to apples, is surprisingly challenging because they all use different key metrics. For Robinhood, we're going to use the company's total net revenues result, and for Webull we use total revenue result. But for Etoro we have to use the company's net contribution, which is similar to the net revenue numbers from the other two. First thing you notice, Robinhood is head and shoulders above the rest in terms of both revenue growth and profitability. Etoro has slower growth, but much better profitability than Webull, although Webull's been improving rapidly. For Robinhood, we see really impressive numbers across the board. I mean, they're doing so well. For Webull, we see the impact of the company dishing Crypto in late 2023 ahead of the deal to come. Public revenue growth disappeared in 2024 and the company's already already modest profits all but disappeared in the first quarter of this year. However, the numbers improved as it got past a tough comparison period. Revenue grew 32%. Not bad. Adjusted operating margin jumped significantly. Very good. And for Etoro, what we see is a big improvement in the financial results last year, especially in the profitability front, which makes sense as the company has said outright that it's changed its strategy after its failed deal to come public a few years ago. In the first quarter of this year, though, revenue growth slowed significantly and the company's profitability even regressed. Put it all Together, Robinhood remains the clear best of breed. What can I say? Now this Etoro, the obvious number two, profitability is nearly as good as Robinhood's, even if the growth is slower. We both. Frankly, I'm putting that one on the do not touch list. Okay? Even. Even if it could get over this congressional interest in. In their ties to China. I still can't get past the fact that we will has 24.1 million registered users, but just 4.7 million funded accounts. What is that about? That tells me that people are treating their Webull account like their DraftKings account. Depositing some money, occasionally placing a bet, the movement, moving on. Good comparison. So Robinhood, Etoro are the only two I even consider Robinhood's a better business. But Etoro has a much cheaper stock selling for 27 times this year's earnings estimates. Basically half of Robinhood's valuation. 55 times earnings. The truth is, as much as I like the overall Robinhood story, and you know, I do, I guess I get a little nervous about a stock that's just run 192% and another 95% gain year to date. I mean, hold on, that's too much. On the other hand, Etoro got pulverized today after reported what I thought was a good quarter, in part because the stock had already run up dramatically from where it came public. These stocks, they just run up, you know what I mean? So that ran up, came down. Look, I'm too tough on Robin. I think Robinhood is terrific. It's just that it's the stock price, it just doesn't stop, and that gets me worried. But man, the company's good. Here's the bottom line. For the long term, I think Robinhood's the safest way, way to play it, even as I prefer to wait for a pullback before pulling the trigger. Hey, why don't we go to Ian in Florida? Ian, hey. Booyah. Jim, how you doing? I'm doing well, how about you? I'm doing great. Thank you, Jim. Jim, I'm down here in Florida and I'm an investor club member. Third time caller. I want to thank you for everything you do. Yeah, thank you, Jim. I wanted to ask you about a company that kind of. It's kind of similar to Coreweave. They rent out GPUs, and it's been a big mover lately. It's called NBIS. What do you think about it here? Okay. I went to their booth when I was out at the conference, the Nvidia GTC conference. I was very impressed. I think they do good things. I wasn't prepared to be impressed, frankly, because I like coreweave. But let me just tell you how I feel about this, Nivi. This stock has. It's kind of like what I talked about at the top of the show. It has an allure. People like it so much. It doesn't have a lot of people writing about it. It's very hard for it to disappoint. I'm actually going to say that I think Nivius is going higher. There we go. And thank you, member of the club and thank you for calling me. That's the third time. I think Robinhood is the best way to play the rise of retail investor. But I'd rather see you wait for pullback before you pull the trigger to buy it. Maybe in the 60s much more may have money hit putting my post earnings exclusive with a company that I cannot believe is on our set. Casey's General Stores. Could a delicious breakfast pizza help make your portfolio some dough? I'm checking in with the CEO of the convenience store chain and close viewers know how much I love the AI chatbots. But I found the area that they still can't seem to master and I'm going to reveal it. And of course, all your calls, rapid fire. Tonight's edition of the Lighting round. So stay with Kramer. Sometimes I get so excited about stories it's hard for me to contain myself. I want you to be thinking about this store called Casey's General. Okay? It's Casey General Store. The midwestern convenience store chain that's beloved for its pizza especially. I had some today in the afternoon, of course, breakfast pizza. Imagine a bacon, egg and cheese sandwich except this pie form and it is delicious. Now I first covered this one positively back in September of 2023. Since then the stock's given us more than a 75% gain. It's crushed in the S and P. And Casey shot up another 12% today. It was something to behold after reporting terrific quarter last night including a monster earnings be strongly expect the same store sales even dividend boost but do not take it from me. Let's check in with with Darren rebellious and Darren is the president CEO of Casey General stores. Get a better read on this thing. Darren, it is an honor to have you in the shop.

[Darren Rebellas]

Thank you so much for having me, Jim. I'm really excited to be here.

[Jim Cramer]

All right, well, I. Before I get into the particulars, I have to tell you I'm just going to put it out there. I had the pizza When I was on the road between Houston and Dallas and I had some again today, the team had some. Just tell people you make the best pizza in the country.

[Darren Rebellas]

We do make the best pizza in the country, Jim, and it's not on accident either. It's. First of all, it's because of our great team. You know, we have 49,000 team members in our 2900 stores. We're working hard every day to deliver that great pizza. But we do it from scratch. And that's something that a lot of people don't realize. We have kitchens in every one of our stores. We make the dough from scratch. We use high quality ingredients, it's made to order and when you do it the right way, it just, it's just delicious. And you know, it's kind of. We got a cult following because of that.

[Jim Cramer]

Well, you know, it's something you're in rural areas, but when I read about who's coming, it's a cult. Maybe a cult following. But it doesn't matter what your wealth is, whether you're rich, poor, $100,000 people come into your place all the time.

[Darren Rebellas]

Yeah, absolutely. In fact, you know, we get stronger ratings on value from our higher income consumers because they're just gravitating towards the quality. They really see that, that value proposition there. And so they're choosing us because of the quality.

[Jim Cramer]

Well, I mean just empirical evidence, I thought that you were like Costco. Sure enough in your deck that you put together of the companies have 1 year, 5 year and 10 year EBITDA growth of 8% there it is Ollie's, which I love, I'm member of the army, Costco. And you.

[Darren Rebellas]

That's it. And you know, Jim, and that's something that's really underappreciated about our, our company and our stock in particular is that we've been able to sustain these results over many, many, many years. And I really attribute that to the fact that our plan is pretty simple. We focus on our food, we focus on store growth, we focus on running our business efficiently. All underpinned by our great team. And it's all in our control.

[Jim Cramer]

I loved how simple accelerate the food business, grow the number of units, enhance the operational efficiency, clear as debt. Your plan clears that and everyone can buy in because it's so clear.

[Darren Rebellas]

Well, that's right. And I'm a big believer in just keeping it simple. And if our team can understand what the goal is, what the objective is and we can get everybody point in the right direction, we can execute that and I think they've demonstrated that over a number of years.

[Jim Cramer]

I think other than Kirkland brand of Costco, your. Well, they used to call them house brand private label cases must be beat beating the regular guys.

[Darren Rebellas]

Well, we certainly think so. And we really have set a high bar for, for quality on our products. They have to be better than the national brand equivalent. And if we can't get it done, then we don't get it in the assortment. And you know, one of the interesting things is because we have such a legacy with our prepared food and our pizza that people automatically assume anything we put our name on is going to be high quality. So we, we take that responsibility seriously. We have to deliver on that quality. And I think we have with our products.

[Jim Cramer]

Okay, so let's talk about America for a second. Did we discover discover value somehow? You know, we didn't used to care about value. I now people, I think people say if it doesn't have value, I'm not going.

[Darren Rebellas]

Yeah, you know, I think that's just a reflection of the last several years of what's gone on in the world. You know, coming out of COVID when we had some supply chain challenges and inflation took off, I think that was a shock to the system. And then you compound that with interest rates going up.

[Jim Cramer]

Right.

[Darren Rebellas]

It really shook people loose. And so now even if you have money, people are questioning why they're paying for something that they don't think the value is quite there. And so that's why we lean into quality. And we've been able to keep that value proposition and our guests keep rewarding us with more visits.

[Jim Cramer]

Okay, so you're in a lot of towns, but there's a lot of rural space left. Right. I mean there could be with this formula, thousands of stores.

[Darren Rebellas]

Thousands. And I'll just give you one anecdote. So in the state of Iowa, where we're based, population of 3 million people, we have five hundred and fifty stores in the state of Iowa. So now we just expanded into Texas with an acquisition which was a good acquisition.

[Jim Cramer]

You didn't pay that much. And everybody seemed to be working from day one.

[Darren Rebellas]

It's been a great transaction. Nice people, very nice people. But Jim, the population of Texas is 30 million people. And we have one hundred and seventy stores there. We have white space for days.

[Jim Cramer]

And I don't know anyone who has a roadmap like you, sir. You know, when we fell in love with you, we did fall in love hard. And I didn't expect it was going to have this, this good a Quarter today. But you've got something special going on. And you see it very rarely in American business. You got people who are fired up. You got a clear vision, got a lot of white space. You got good leadership. I want to congratulate you for doing a great job.

[Darren Rebellas]

Well, thank you. Really appreciate that.

[Jim Cramer]

Dan Rebellas, he's the president CEO of Casey's General. The symbol is C, A, S, Y. Do not be put off by the size of the jump today. It's not too late. In fact, it's early net. Mike's back after the break.

[Unknown]

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

[Jim Cramer]

Max. It is time for the light. And then the lightning round is over. Are you ready, Steve? Dagt Lightning round. Let's start with Ron in Pennsylvania. Ron. Hi, Jen. Ron, what's shaking? First time? Yeah, first time. Long time. I like first time, long time. Let me help you. Yeah, yeah. I'm doing just a little bit better than amazing. All right. Okay. All right. I'm calling about it. Yeah, I'm calling about a company that's doing business with Toyota U.S. air Force Skyports in Dubai. Delta, you know, FAA certified part one point.

[Chuck Robbins]

You probably know what I'm talking about.

[Jim Cramer]

Joby. Yep. You know what? Remember a couple weeks ago I said I was done with the knocking and the ones that don't make money. Joby's real. I think Arch is real. I think Bowen's working on the same thing. But Joby is good and I'm going with it. And I am with you. And thank you for your first time call. Joby's okay. I'm even playing some Joby music. Let's go to Don in New Jersey. Don't. Booyah, Mr. Kramer. Booyah. What's up, Don? I need some expert advice. Well, you came the expert. They call me the Ex. Okay. I built a nice size position in arm holding. Well, you're in good shape. That's Rene Haas. The only thing Renee's doing wrong is he is a Las Vegas Raider fam. Which I know there's no accounting for case when it comes to of football. But his stock is doing very well. Why he is a partner of Nvidia. And don't forget it. Rene Haas used to work at Nvidia. They are very tight together. I'm going to Kumar. New Jersey. Kumar. Hi, Jim. How are you? I'm having a good day. How about you?

[Unknown]

I'm doing good.

[Jim Cramer]

You know, you found us a lot of companies and I think I Invested in Celgene with your recommendation. Long time back.

[Unknown]

So I have another company here, Kura Oncology.

[Chuck Robbins]

Nope.

[Jim Cramer]

I'm gonna just. I'm gonna just plan out flat out admit Kura I do not know. I have not. I don't know Kura from Kumbaya. I have to learn more and then I have to come back because I'm not, I'm not gonna just say, hey, you know what? That Kura love it. Because I can't do that. Let's go to Ryan in Rhode Island. Ryan. Hey, Jim. Mega Boulez from Rhode island. Wondering about Papa John's. You know Papa John's? Only six ingredients in a Papa John's pizza. I find that quite incredible. Todd Panagore runs it now. You know, I was the previous CEO, went on to Shake Shack. He's crushing his Shake Shack. I think it's a wait and see situation with Panagore at Papa John's. So I'm not going there yet. I'm not saying yes. And that. Ladies and gentlemen, this is a conclusion of the Lightning Round.

[Unknown]

The Lightning Round is sponsored by Charles Schwab. Coming up, is AI technology really ready for primetime? Kramer's giving you his take on the state of the chatbots like Grok and chatgpt.

[Jim Cramer]

Next. People constantly ask me why I go on all these generative AI sites. There are a host of reasons, including time constraints where I need some reach. General information that's more in depth than you're going to get from a search and summarization is where these AI platforms really shine. When I'm in a jam going on Squawk on the street, or when I try to learn a half dozen news stories a day, the summaries of the conference calls and a simple prompt of how does Casey General make so much money? Is ideal. But there are other things generative AI does terribly, and they don't warn you about that on the packaging. You can't ask them to calculate the returns of stocks that have been adjusted by splits and spin offs. In fact, they're awful at anything that involves arithmetic. You might think this is common knowledge, but there should really be a warning right on the label. Let me give you just a perfect example. The prompt is, if I invested $1,000 in the stock of GE on October 1, 2018, what would it be worth on December 31, 2024, including all the dividends and spinoffs? I picked the start date because that's the day Larry Culp started as CEO and I wanted to include his great work in my Forthcoming book, How to Make Money in Any Market. Not till September now. It's actually a pretty tricky calculation. You see, GE had an 8 for 1 reverse split. There's a dividend to consider, even if it's a small one. It's spun off GE Healthcare and GE Vernova, its energy business, and you only got one share of GEHC for every three GE shares and one share of ANOVA for every four GE shares. Complicated. Still, you think artificial intelligence would be perfect for tracking dates and doing arithmetic. But no, they can't handle this stuff. It's too hard for them. I put that prompt to Grok Super Edition, Perplexity, Claude Gemini and ChatGPT Advanced Edition. Let's start with the worst. Claude tied me up for six minutes checking 286 stories and then blew me off with a screen page and said, your idea is amplified. I'm not going to have them amplify my ideas anytime soon. Grok spent 40 minutes trying to figure it out and I gave up on it. Then I came back a second time. I didn't think Grok was all that bad and said no time. Boom. $28,491. Prompt answer simple. Meta was exceptionally fast. No time wasted. Gave me an answer of 13,975. Not as high as Grok. Still good return. ChatGPT the advanced version banged out 3,589. Still not bad, but versus the S& P but not a home run. Finally, Perplexity said, culp's plan got you $3210.25. Lowest of the six. Now, we were uncomfortable using any of these numbers, so we decided to take the time to do it by hand. The real number turned out to be $2874.86. No wonder I like Perplexity. For Apple, it was only off by about $300. I mean, think about this. The SB gave you $2,229 and after that same period. So while the collection turned out to be great, it wasn't all that much better than the broader market. Again, these general models simply aren't built to calculate anything, but you'd never know it if you looked at their websites. I wish they had put a warning label and said for the love of God, please don't ask me about numbers. Especially when you are as far off as Grok or even Meta. At the end of the day, if you can't trust them to make basic calculations, what can you trust them to do beyond basic summaries? You know I'm working as a bank teller. I wish that the ultra high end ones could have just said too bad I can't do it. Sorry. That would have been much better than what happened here. They all sounded so correct and they were all wrong. Just embarrassing how mistaken these much valued systems really are. Even as each tells you that these kinds of return calculations are now their bread and butter. Were they using the wrong facts? Did I ask it wrong? Was it just not attainable on machines? In the end, these chatbots exist to spit out words, not calculations. Until the hyperscalers figure out how to make that possible, I beg you, spend 40 minutes doing your homework by hand and get it right. I like to say there's always a bull market somewhere. I promise to find it just for you. Radio Made Money. I'm Drew Kramer. See you tomorrow.

[Unknown]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, or their parent company or affiliates and and may have been previously disseminated by Kramer on television, radio, Internet, or another medium. You should not treat any opinion expressed by Jim Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Kremer'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 Tipping culture is out of control. Yesterday I tipped someone just for handing me a napkin. So when hotels.com gives me up to 20% off for being a member, I finally get tipped. And you know what? It feels good. Hotels.com members save up to 20% off at hundreds of thousands of hotels.