Mad Money w/ Jim Cramer 6/9/26

Summary

Mad Money w/ Jim Cramer – June 9, 2026 — Episode Summary

Overview

In this episode of “Mad Money,” Jim Cramer delivers a spirited analysis of the current market's changing leadership, delves into the risks looming over investors—from oversupply of tech stocks to spiraling speculation—and brings on key guests to discuss workforce development and the impact of the data center boom. Cramer spotlights the necessity of adapting investment strategies amidst shifting market winds, highlights new initiatives addressing America's skilled labor shortage, and interviews leaders at Cloudflare and Entergy to reveal where growth and opportunity could lie beyond the churn of megacap tech.

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Main Discussion Segments

1. Shifting Market Leadership: The End of Tech Scarcity (00:48–12:10)

Key Points

• Market Recap: The Nasdaq plunged during most of the session but rebounded late, ultimately still closing down 0.97%. Tech weakness led the way.
• Old vs. New Tech Leaders: Cramer observes that previous tech market leaders ("The Magnificent Seven") have lost their scarcity appeal amid upcoming mega-IPOs (SpaceX, Anthropic, OpenAI).
  • "A real bull market has leaders and those leaders have terrific characteristics. […] But now we're searching for new leadership because tech can no longer be trusted." (00:48)
• IPO/Funding Deluge: Upcoming IPOs could flood the market with new shares, erasing the scarcity premium that supported elevated valuations. Cramer warns, “Nothing kills a bull market like oversupply of stock. We’re about to have supply coming out of our ears.” (06:05)
• Balance Sheet Shift: With the exception of Apple and Nvidia, megacap techs are stretching their balance sheets and potentially preparing to raise capital through secondary offerings, indicating vulnerability.
• Winners & Rotations: Scarcity and defensive characteristics now belong to select food stocks and health care. Cramer points to Johnson & Johnson and UnitedHealth as new pillars of leadership.

Notable Quotes

• “The only saving grace, many of the people who are buying it, who intend to buy Space X, well, they used to lose the money because they're in bitcoin and levered ETFs. Yes, it's the hot money that wants in on the SpaceX deal. The worst kind.” (06:38)
• “I've said over and over and over again that higher interest rates can certainly hurt a bull market. But nothing kills a bull market like oversupply of stock.” (07:08)
• “The only cure for too much supply is lower prices so low that companies don't want to sell stock anymore.” (09:51)

Timestamps

• 00:48–10:45: Market leadership discussion, IPO warning, new safe havens, sector highlights.

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2. Lightning Round: Caller Q&A (39:12–42:28)

Key Points

• Netflix (NFLX): “I want to buy Netflix. The biggest headwind is that they went and got involved with trying to buy Warner Brothers Studio…and then they decided not to do it because they're going to do fine.” (09:04)
• Broadcom (AVGO): Cramer admits fault on a “weekend of hell” after Broadcom’s earnings miss, advocating caution until prices adjust.
• Other Calls:
  • Spec plays are ok but only one per portfolio (“just one spec will do it for you”).
  • Avoid meme stocks and companies without solid fundamentals in a challenging market.
  • Caution advised for formerly high-flying, speculative, or AI-impacted names.

Notable Quotes

• “This is a meme stock. It’s just a meme stock that…it’s about the autonomous system meme. And I can’t get behind a meme stock. This market’s too horrible.” (41:01–41:15)

Timestamps

• 39:12–42:28: Fast-paced buy, sell, hold opinions on callers’ stocks.

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3. Workforce Revolution: Metta & Mike Rowe's "America's Workforce Academy" (12:10–21:28)

Key Points

• The Labor Shortage in Trades: Cramer, Dina Powell McCormick (Meta), and Mike Rowe (Mike Rowe Works Foundation) break down America’s deep need for electricians, welders, fiber techs, and similar blue-collar roles—essential for the ongoing data center buildout.
• Barriers & Dignity: Both highlight that while there are hundreds of thousands of open jobs, many who could fill them are stuck in lower wage, insecure roles due to financial and social obstacles.
• America’s Workforce Academy: A $115 million Metta-led initiative providing free, paid job training and guaranteed job placement on completion, aiming to “eliminate all of those roadblocks that have existed up until today.” (15:45) No high school diploma required.
• Stigma & Societal Shift: Rowe targets the damaging myth that only a four-year college leads to success, tying it to persistent skills gaps and ballooning student debt.

Notable Quotes

• “Dignified jobs…are jobs that ultimately bless somebody other than the worker. […] That was the whole thesis of dirty jobs.” – Mike Rowe (15:32)
• “It’s not hyperbolic to invoke the Manhattan Project…we’re looking at what’s next. It’s a $10 trillion infrastructure buildout. The stakes are pretty high.” – Mike Rowe (20:15)

Timestamps

• 12:10–21:28: Discussion with Meta’s Dina Powell McCormick and Mike Rowe.

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4. Cloudflare’s CEO on the “Bot Age,” AI, and Workforce Strategy (23:19–31:34)

Key Points

• AI Drives Internet Boom: CEO Matthew Prince notes “bot” (AI agent) traffic passed human traffic online (ahead of forecast), fueling lasting web infrastructure demand.
  • “New websites are being created…even more importantly, there's actually more traffic going to the websites. And that's all being driven by AI.” (24:21)
• Layoffs & “Builders, Sellers, Measurers”: Cloudflare’s recent layoffs (20% of workforce) weren’t weakness but reallocation; AI is replacing “measurers,” but builders and sellers remain in high demand.
  • “More builders, more sellers, fewer measurers.” (26:32)
• Cybersecurity Arms Race: Partnership with AI leaders (Anthropic, OpenAI) has led to surge in demand for security—expecting two years of intense cybersecurity needs before self-healing code reduces breaches.
• Emerging Business Models: As bots won’t click ads, Cloudflare sees a new future business model for content rights and digital payments.

Notable Quotes

• “The future business model of the Internet is not going to be driven by ads…Cloudflare is going to invent the business model, the next 40.” – Matthew Prince (31:14)

Timestamps

• 23:19–31:34: Interview with Matthew Prince of Cloudflare.

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5. The Utility Boom: Entergy CEO Interview (32:02–38:55)

Key Points

• Entergy’s Growth: Entergy’s booming thanks to data center demand; its capital plan has doubled to $67B, much for data center infrastructure.
  • “Our capital plan has doubled in the last two years, $67 billion. But most of that is going to data centers and supporting the infrastructure needed for them.” – Drew Marsh (33:30)
• Fair Share Plus: Data center contracts mandate clients pay all incremental and a share of fixed costs ($7B+ in ratepayer savings over 20 years).
• Skilled Workforce Collaboration: Entergy is partnering with America’s Workforce Academy and others to recruit and train the skilled labor needed for utility and data center construction.
• Energy Mix & Expansion: Marsh discusses balancing new nuclear and leveraging natural gas wealth; regulatory hurdles mean nuclear expansion will hinge on large-scale data center demand.

Notable Quotes

• “We’re both — we have, we certainly are still paying dividends and we do produce steady predictable returns but there are a lot higher than they have been in the past.” – Drew Marsh (33:12)

Timestamps

• 32:02–38:55: Interview with Drew Marsh, CEO of Entergy.

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6. Cramer’s Closing “No Huddle” — Navigating Fear and Market Overload (42:43–End)

Key Points

• Bearish Lean: Cramer confesses to feeling uneasy about the market, citing falling bitcoin, rampant speculative behavior, and the coming “gusher of stocks.”
• Advice: Urges investors to avoid leverage, margin, and not to chase hot IPOs with undisciplined market orders, singling out SpaceX as potentially risky if enthusiasm runs ahead of fundamentals.
• Geopolitical Risk: Expresses concern about global conflict (Middle East war) and its unpredictability.
• AI Valuations: Warns that private market AI company valuations may not translate to public market success, potentially leaving late-coming investors holding steep losses.
• Prescription: “Get off a leverage, people. Get off a margin.” (43:28) “Promise me you won't do the same thing with Space X.” (44:48)

Notable Quotes

• “Nothing kills a bull market like oversupply of stock.” (07:08)
• “All these IPOs and secondary offerings—that’s real poison. It hasn’t dawned on you, there’s a smell of desperation here that’s truly ranked.” (44:10)

Timestamps

• 42:43–47:02: Closing monologue — caution in markets, IPOs, bitcoin, and speculative behavior.

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Most Memorable Quotes

• “Let's get off margin. Let's stop the gunning and the speculating. Let's raise some cash in the strength. You won't regret it.” – Jim Cramer (09:37)
• “The only cure for too much supply is lower prices so low that companies don't want to sell stock anymore.” – Jim Cramer (09:51)
• “I would predict that in five years we're going to have 10, 100 times more agent traffic…we need some way to compensate content creators like you for the content that you're creating.” – Matthew Prince, Cloudflare (30:35)
• “An imbalanced workforce is not a workforce at all. Blue and white collar are two sides of the same coin.” – Mike Rowe (19:04)

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Takeaways for Investors

• Tech Leadership Is Changing: Scarcity and strong balance sheets are shifting away from megacap tech—expect future leaders in health care, utilities, and selected consumer names.
• Beware Market Oversupply: The influx of tech IPOs and secondaries could drive valuations lower and test investor patience.
• Speculation Danger: Crypto/sloppy ETF speculation is a market risk—avoid leverage.
• Workforce Realignment: The AI/data center buildout isn’t just about software; it’s a blue-collar job revolution.
• New Business Models Needed: As bots and AI rewrite internet economics, infrastructure providers like Cloudflare plan to define how online value is exchanged in a post-ads world.
• Utilities as Growth Plays: Companies like Entergy are positioned at the intersection of digital infrastructure and traditional economy, benefiting from enormous capital flows into power-hungry data centers.
• Stay Disciplined: Cramer urges listeners to resist speculative fever, remain cautious, and safeguard capital until supply-demand resets.

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Key Timestamps Reference

• 00:48 – Cramer’s market intro and the shift in tech leadership
• 06:38 – Warning on IPO/funding flood and hot money
• 09:51 – Prescription for oversupply: “lower prices”
• 12:10 – Launch of America’s Workforce Academy (Meta/Mike Rowe)
• 23:19 – Cloudflare’s CEO on the explosion in bot traffic
• 32:02 – Entergy’s CEO on the utility’s strategy for the data center age
• 39:12 – Lightning Round: rapid-fire caller stock opinions
• 42:43 – Closing monologue: Cramer’s worries and investing advice

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This episode delivers a forthright, hard-hitting assessment of current market fragility, deep dives into critical industry pivots, and amplifies the message that the next economic boom will be built by both new technology and millions of newly-empowered skilled workers. For investors feeling whiplash from AI, IPOs, and shifting sector leaders, it offers urgent caution and a search for new enduring winners.

Transcript

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[Jim Cramer]

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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 mo market somewhere and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Cramerca. Otherwise, friends, I'm just trying to make a little bit of money. My job is not just to entertain you, but to teach. So call me at 1-800-743- CNBC. Tweet me at Jim Cramer. A real bull market has leaders and those leaders have terrific characteristics. They make a lot of money. There's a limited number of there aren't too many shares around because these companies constantly buy those shares. Something they can do. Why? Because they're spewing cash and have beautiful balance sheets. As recently as a few months ago, that described pretty much all the megacap tech stocks. But now we're searching for new leadership because tech can no longer be trusted. That's how you get a day like today, where the NASDAQ spent most of the session deep in the red for a late afternoon rebound. Dow finished up 86 points. S&P declined point to 6%. But even after the rebound, the Nasdaq sunk 0.97%. Just think about it. Tech stocks have been the key leaders of this market ever since the minibank crisis in the spring of 2023. Ever since, we tend to forget. But that's when the magnificent seven emerge. That's when we began to see the semiconductors roar. It's when the enterprise software soared. Everything tech saved. The commodity chip makers just took off. They had perfect leadership qualities. Good growth, fantastic balance sheet, steady buyback, scarcity value. The rest of the market seems sluggish and suspect, uncertain, inconsistent episodic growth. But now we're in a very different moment, aren't we? There's. There's no longer a scarcity of tech. We have some of the biggest IPOs of all time coming. First, SpaceX, the anthropic open air. The only consistent tax are the ones that were the worst back then, the commodity semis. As usual, they bounced back hard today because they are acute. Short shortage, but hot money loves a shortage. Back in the heydays of Magnificent Seven, everybody loved that these tech titans were immensely profitable. But the new big three that we revere, Space X, Anthropic and OpenAI, there was a bazillions of dollars. SpaceX will have to do multiple rounds of fundraising if the company is going to keep paying for its great ambitions in space. That's fine, but it's not what we liked about tech back in 2023. The other two, who knows? They don't have time for profits. The hallmark of the Magnificent Seven, bulletproof balance sheets. That's what allowed them to have these robust buybacks. They were tight. They tended not to cascade. These were huge companies. But there wasn't ever a lot of stock for sale. Secondaries. Are you kidding me? Now with the exception of Apple and Nvidia, we have stretch balance sheets galore. Alphabet, if yours are buying back stock issued stock, they might not be the only one of the seven that needs to raise money. I look, I can make a case that Amazon, Microsoft, all might want to sell some equity if I were running the show. I don't know. I don't want to show up at a hyperscaler gunfight with a pen knife. Is there still scarcity value, the big tech and not just basics then Anthropic and opening. I went after another. We don't really know when the latter two will come public, but I think those deals could happen sooner than we think. They need the money. Bloomberg says there's a $3.6 trillion AI pipeline that's just no good. No good at all. No scarcity value here whatsoever. I've said over and over and over again that that higher interest rates can certainly hurt a bull market. But nothing kills a bull market like oversupply of stock. We're about to have supply coming out of our ears. It's so bad that today I found myself wondering if the space steel is even going to work as well as I thought. Maybe they open it too high. As high as in video. $5 trillion valuation and then it goes to Hades in a handbag. Just a gusher of stocks. Sold by losers who use market orders that are furiously dumping it because they didn't know what they were doing to begin with. The only saving grace, many of the people who are buying it, who intend to buy Space X, well, they used to lose the money because they're in bitcoin and levered ETFs. Yes, it's the hot money that wants in on the SpaceX deal. The worst kind. Meanwhile, all the crypto charts, I got to tell you, they are maybe among the worst I have ever seen in my career. Whole areas are overwhelmed today, especially the enterprise software space. Once again, all that had to happen was for one of their number to disappoint. It was Sailpoint again, a cybersecurity company nobody ever heard of. But we know that they have debt. We know they went to Toma Bravo. We know that things are bad in that area. And then you know what? They didn't raise their forecast. That's what really happened. The kiss of death that was extrapolated to the rest of the group. Sellpoint plunged over 11%. Service now down 6%. Adobe down 3%. And then I'm the same business salesforce all the way back down. Let's see. Too much supply, tattered balance sheets, Gunner shareholders, no scarcity value. Exact opposite of when the Magic seven were anointed. And what led us today? Well that's pretty simple. With a name like this, it's got to be up 10%. That's right. J.M. smucker. Okay, this is a little bit of a metaphor here. It's a pastiche of pet food. Coffee, uncrustables, peanut butter, fruit sprays. Toast is Twinkies by the way. Twinkies did well. This company and others that have been left for dead. Right? Victims of rampant inflation, health concerns, GOP Dash 1. But when you think about it, the food stocks do have scarcity value and decent balance sheets. Although not a lot of growth. Okay, and that makes it a little less attractive. Obviously the other leadership groups are a little more palatable than the financials and healthier. The former have limited growth, but their stocks are cheap, having beaten down by credit worries and lower rates. Credit can still be an issue, but rates will be going stable or higher and that's good for the banks. Health care. Eureka. I found it. This is the leadership group that we've been looking for. Take Johnson Johnson has been shedding slower growing divisions like 10 viewers consumer products business as well as its commod of the orthopedic operations focusing on fast growing drugs. I like that it's got a ton of them. It's got a triple A balance sheet better than the US government. I like the drug stocks here. I like the UnitedHealth here. I like all the companies that I think would just be even just not floating at biotech but a lot of biotech we also saw buy in housing related stocks because we got a strong existing home sales number. Best of the year, I discount this group. But it's nice to see it as a pulse even if it goes like this. In the end, good housing markets impact more than just housing. They help retail. Did you see that? I mean like William Sonoma. Terrific. Two thumbs up. Today's buyers are clearly anticipating multiple good housing numbers. Good luck. I wish I could be that bullish this weekend. I penned a piece for members the investing club. Talk about more of that later. Saying that I grown increasingly negative about the market. I've said over and over and over again that we'd have to cut back buying rather dramatically. And we did some serious selling because I'm so worried about this flood of stock supply. The only cure for too much supply is lower prices so low that companies don't want to sell stock anymore. And everything else seems attractive to you and me. We are not there yet. We're only on day two of the period of oversupply. But there's not much that can be done until these deals get through the Python. One last oddity. Many of these tech companies are coming public because they need money to build out their datacenter networks. It's telling it. The one company with a buyback that's cheap that will actually benefit from all these IPOs is in video and it is being slaughtered like everything else. That's the one to buy. That's the one that snaps back first out of this morass. And then the next one is Apple still has a balance sheet. That's fantastic. Still is the buyback. It still has products. We all love Wall Street. Stop complaining. You can't wait to get your hands on the new theory. Shut up. The bottom line, let's get off margin. Let's stop the gunning and the speculating. Let's raise some cash in the strength. You won't regret it. Shelley and West Virginia. Shelley. Hey Jim. As I mentioned last time I was on the show, we absolutely love you in West Virginia. Oh, thank you, State. That's fantastic. I like that gorge there. I like to have been to the gorge. What's going on? So Netflix is not moving much at all. And my question is, what have been some of Netflix's biggest headwinds. And additionally, is it a buy, sell or hold? Okay, I want to buy Netflix. The biggest headwind is that they went and got involved with trying to buy Warner Brothers Studio and everyone thinks, oh, they don't know what they're doing. I think they took the optionality that they had. They debated it, they made a decision, then they decided not to do it because they're going to do fine. I think we're going to look back and think, well, I bought it down 13%. Not bad. Thank you. And West Virginia, clearly for lovers. Let's go to Vish in California, please. Vish, hi, this is Vish from California. First time caller. Excellent, Jim. Jim, what did you think about Broadcom's earnings? Okay, Broadcom stories were not good and my trust lost a huge amount of money and I feel really badly about it. It can make a comeback. I hope there's some insider buying. They did miss the numbers. But if you want to ask what Broadcom was like for me, Broadcom was like a weekend of hell. I got home and I just said I screwed up. I screwed up on Broadcom. It was just like 1982 when I got something wrong in the market. Nothing changed. I don't like that. Look, the only cure for too much supply is lower prices. And unfortunately, I don't think we're there yet. Well, man Money tonight Met is launch launching a new initiative to address the shortage of skilled workers in the US And I'm learning more about the plan from the company's top brass. Then I'm sitting down with the CEO of Cloudflare, Matthew Prince, to get an update on how the cybersecurity outfit is navigating the era following its high profile round of layoffs in early May. And then shares of energy are up more than 18% as utility so far this year. Can it keep powering higher? I'm going to get the latest from the company CEO on a true growth stock that happens to be utility. Stan Kramer, Foreign.

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[Jim Cramer]

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[Jim Cramer]

Whenever you hear about the problems caused by the great data center build out, it's always that they push up the price of electricity or consume scarce resources like water. Honestly, the real problem is they're causing a shortage in skilled labor. We're simply not going to be able to complete all these projects without hundreds of thousands more fiber technicians, welders, plumbers, electricians. I bring this up because Metta Platforms just announced a new initiative teaming up with legendary TV host Mike Rowe to launch America's Workforce Academy, the largest private sector commitment to the skilled trades in American history. It's basically a paid job training program starting with $115 million in funding for Metta that will help people get the certificate they need to do these jobs. This is new, it is different and a really cynical time in this country. I'm calling it refreshingly constructive. Earlier today, I got the chance to learn more about America's Workforce Academy From Dina Powell McCormick met as president and vice chairman. And Mike Rowe, CEO of Micro Works Foundation. Take a look. Welcome to Mad Money.

[Dina Powell McCormick]

Thank you for having us, Jim.

[Mike Rowe]

Great to be had.

[Jim Cramer]

It's terrific to have you guys. Did I like to start with you. I want you to to define the problem that America's Workforce Academy is addressing. What's the actual difficulty here that. That I think you can conquer?

[Dina Powell McCormick]

Sure. Well, we've been working on this for a while at Metta and what we really have seen is that it's so important to focus on giving Americans a pathway to be part of this economic transformation that you talk about every single day. Jim. The problem is that there are hundreds of thousands of open jobs that are needed to build America's infrastructure, from plumbers to electricians to welders to fiber technicians. And there are also hundreds of thousands of Americans who would love to be in those jobs, but they are often working paycheck to paycheck. Uber drivers, grocery clerks, waitresses. I waitressed my way through college. I know what that's like to pay, to be focused on just making sure you get the paycheck that week. And that means you can't afford to take time off work. You can't afford the training to get into these fields, and you can't afford to do it if you don't have a job at the end of it. And so America's workforce academy is really meant to address those barriers. When you graduate from this five week, very intensive program, you become job site ready. You can actually go on a construction and infrastructure site. And of course after that, you've got to specialize in electricity, in fiber laying, in pipe laying, in weldership. But what we saw is that if you can just get them on the job site and give them that credential with a guaranteed job, you really solve an enormous problem. And you have people that right now are not part of what is going to make America lead in AI.

[Jim Cramer]

Boy, we ever need it. Mike, why aren't more people going into skilled trades? What are the barriers? And what I'm trying to figure out here also is the something that you've done better than, better than anyone in the country. Dignity. You have said over and over again these jobs are about dignity, and we want people to have that in this country.

[Mike Rowe]

Dignified jobs, in my estimation, are jobs that ultimately bless somebody other than the worker. Right. Anything that has a positive impact on the country writ large or your own zip code is a dignified job. That was the whole thesis of dirty jobs. And that's certainly the thesis that's behind this most recent initiative. I think, personally, Jim, you know, Microworks is closer to the top of the funnel. We deal with stigmas, stereotypes, myths and misperceptions that in my estimation have conspired to keep a whole generation of kids from giving the trades an honest look. So I've spent most of the last 20 years trying to debunk some of those misperceptions and make a more persuasive case for the jobs that actually exist. What that is doing is dealing with that cohort of people who are ready to be persuaded but have run into some kind of financial impediment. There is zero cost to what she's proposing. They pay for transportation, they pay for food, they pay for your training. When you leave, you have your credential and a guaranteed job within the metaverse but if you want to leave the Metaverse, you go and you take your accreditation with you. So they've literally eliminated all of those roadblocks that have existed up until today. So what this means for the workforce is anybody's guess. I can't wait to see how the needle moves. But what it also means for a lot of the guests that you're about to have on your program is that the bar has been set, the gauntlet has been thrown down, and I think the biggest, most consequential companies in the Fortune 500 are going to be looked at, and people are going to wonder, what are you guys doing to close the skills gap?

[Jim Cramer]

Right.

[Mike Rowe]

And the answer better be prescribed.

[Jim Cramer]

Well, I think.

[Dina Powell McCormick]

Can I add a challenge by just saying something about the point on dignity. I think that's something that we have seen on our job sites, that people want to feel that America is proud of what they're doing. And if you remember, During World War II, Americans came together to physically build the arsenal that defeated tyranny in the world. Well, today, those frontline American heroes on these jobs sites are building the infrastructure that's going to help America win in this critical race for our country's national and economic security. And so I think that dignity piece is important. It also is very real. We're not going to win, and American AI is not going to lead if we don't actually build these sites with these women and men who are getting into these fields. And I think the thing that's really inspiring to us is that you do not have to have not just a college diploma, you don't have to have a high school diploma. You can actually get through this certification, become job site ready. And I think it's really important in this time when there's a lot of questions about what's happening in AI, that these are individuals that are not being left behind. They are saying, and I think we're hoping that they believe that the future is for everyone.

[Jim Cramer]

Yeah, when I listen to you, I'm sure there are people who say that I'm being a softball here, that I'm not being tough enough on you. But, Mike, you know, there are some issues that are not Republican, that are not Democrat. There are some issues that are American. I can try to poke holes in this, but there are. There are times when it's not. Doesn't pay to be cynical. Wouldn't you. Wouldn't you agree?

[Mike Rowe]

I would say that an imbalance workforce is not a workforce at all. Blue and white collar are two sides of the same coin. And part of the reason we have such a massive skills gap is that we've spent the last 40 years telling a whole generation of kids that the best path for the most people comes with a four year degree. If you don't think that's going to have a massive unintended consequence, especially when you take shop class out of high school at the same time. You know, we were talking earlier. I can draw a pretty straight line to a number of existential dramas right now that are plaguing us, including $1.79 trillion in outstanding student debt, 7 1/2 million open jobs right now, and nearly 7 million able bodied men who are not engaged in the workforce. They're not working and they're not looking for work. That's never happened in our country, not, not in peacetime anyway. So there's a lot of stuff going on that's going to require a solution. And it's not going to be a cookie cutter, broad based thing. It's going to involve companies like Metta, it's going to involve the Feds. More on that later. And it's going to involve school districts.

[Jim Cramer]

It's.

[Mike Rowe]

You're talking about redefining the definition of a good job and reimagining the way you train the labor for which we're in such desperate need. It's a, it's not hyperbolic to invoke the Manhattan Project. And no, I don't remember it, but I read all about it. It was a big deal. And, and we're looking at what's Next. It's a $10 trillion infrastructure buildout. The stakes are pretty high.

[Jim Cramer]

Well, look, I can't. I hope this is not the last we hear this. Dina knows how passionate I am about small business as she is and what this can mean. I hope everybody's bought in. I hope the unions are in. I hope the, the big utilities are in. We need everybody in because it can't be small. It has to be big in order to work. I want to thank a meta Platforms President Vice Chairman Dina Powell McCormick and Mike Rowe Works Foundation CEO Mike Rowe. Guys, it means a lot. Okay, this is, it's time to talk about this, not just about the corporate quarter. Thank you very much.

[Dina Powell McCormick]

Thank you. Thank you for having us.

[Jim Cramer]

Absolutely. Back to.

[Mad Money Announcer]

Coming up, Cloudflare CEO is joining Kramer to make the case why his company stock should be a buy despite the rumored SaaS apocalypse. Next.

[Etsy Announcer]

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Hotels.com is the place you go to book hundreds of thousands of hotels. It's exactly what it sounds like. Just like Save your way from hotels.com is exactly what it sounds like. Choose to Save now with an instant discount or bank that discount as rewards for later. It's all up to you. Want to stretch your budget and get the lowest price instantly? Choose Save now. Want to collect more rewards and spend them on a future getaway? Choose bank for later. Either way, you save and earn rewards on every stack. Save your way [e-mail] it's all in

[Etsy Announcer]

the name not every sale happens at the register. Before AT&T business Wireless checking out customers on our mobile POS systems took too long. Basically a staring contest where everyone loses. It's crazy what people will say during an awkward silence. Now transactions are done before the silence takes hold. That means I can focus on the task at hand and make an extra sale or two. Sometimes I do miss the bonding time.

[Matthew Prince]

Sometimes AT&T business Wireless Connecting Changes everything.

[Jim Cramer]

Well, it's been a whirlwind few weeks for Cloudflare, the Internet infrastructure play with a major cyber security business. When the company reported in early May, the numbers were excellent. It was a textbook beat and raised quarters. But they also announced some big layoffs amounted to roughly 20% of the workforce. It was done, sadly, but they had to do it and I'll tell you why in a second. Stocks sold off hard, down over 27% in a three day losing streak every quarter. Then it's not right back. I would argue it should never been down. By last week Cloud 4 was setting fresh all time highs with the but with the tech led sell off that started last Friday, it's now getting hit again, down almost 15% from its size. This stuff is very hard to keep track of. Today Cloudflare held a very successful Investor Day event here at the New York Stock Exchange and while it wasn't enough to save the stock on a very tough day for tech. I want you to hear the story straight from the source. So let's check in with Matthew Prince, the co founder and CEO of Cloudflare, who just rang the closing bell today Mr. Prince, welcome back and congratulations. Ringing the closing bell.

[Matthew Prince]

Thank you so much, Jim. It's great to be here.

[Jim Cramer]

Okay, so give me the long term investment case, because we can do this short term stuff and it could be wrong tomorrow and right by Thursday. Long term case.

[Matthew Prince]

I think that the long term case is Cloudflare is building the infrastructure to power the future. We've built a platform that allows us to continue to scale. What we're seeing is the Internet is growing again for the first time in years. New websites are being created, new applications, but even more importantly, there's actually more traffic going to the websites. And that's all being driven by AI. And Cloudflare is the power platform that can keep up with that demand.

[Jim Cramer]

Well, I saw you said agent traffic is growing so fast that the bots have now passed human traffic online for the first time in its history. I mean, you got to tell us what that trend means and how and what it means for Cloudflare in particular.

[Matthew Prince]

It's happening so much faster than we anticipated. I predicted last year there'd be the end of 2027 when bought traffic would exceed human traffic. I updated that three months ago to say it's been the first half of 2027, and just the other day it actually crossed it in the first half of 2026. What we're seeing is that agents just drive more traffic online. The way to think about it is if I'm shopping for a digital camera online, I might visit five websites and then pick one. If I have an agent that's doing it, might visit 5,000 different websites in order to make a much more informed decision. Someone has to power the infrastructure to power those bots, and that company is Cloudflare.

[Jim Cramer]

Well, that's just a huge amount of business. Now that also tells me that if one person's in control of all those things, we have to change the way we do our work force. We have to change what we do at our company. I think you took a very forward approach to this, and it was not a sign of weakness when you lay people off. But you also talked about people burning builders, sellers or measures. Can you lay out the investment case for why we should all be expecting that these forced multipliers may mean that we don't need as many people at the company?

[Matthew Prince]

Well, I think we might need just as many people. I think it might just be different people. So I go back to Peter Drucker, who wrote some of the seminal books on business, and Peter really described that there were three types of people at Companies, there are the people that built products, they're the people that sell the products. And then there's the all, all the other stuff which he described as measurers. The people that do audits or revenue recognition or all of those different things. It turns out that we need a ton of people building. If I have an Engineer that's now 10 times as productive, I'm going to hire as many engineers as I can.

[Jim Cramer]

Right?

[Matthew Prince]

We need people to sell those products, like, because people still are needed in order to sell it. And our salespeople are more productive than ever because of the tools that we provide them. But measuring all of that work, turns out that's what AI is extremely good at. And what we've seen at Cloudflare is that we can replace a lot of those functions that aren't generating revenue, aren't generating products with actual tools that do this. And I think this is going to be the future of business. More builders, more sellers, fewer measures.

[Jim Cramer]

Well, I think that you are a pioneer in the sense that you did something that others will have to do somehow, because you did it. Among the first, it was regarded as weakness, even as there was nothing in the documents, in the financials that indicate anything other than strength. What happened? People have realized, well, holy cow, the business is as good as ever, if not stronger. And the stock came right back.

[Matthew Prince]

You know, I think that people digested that Cloudflare is doing incredibly well, and they were actually being very sensible. When I talk to peers, almost everyone in tech across the Fortune 500 knows that they're going to have to do this, knows that they're going to have to change what's going on. But a lot of them are frankly not making the decision right now because they want to wait for everyone else to do it. I think that's cowardly because I think the kindest thing that you can do to an employee that you're going to lay off is do make the decision as early as possible because those team members were finding jobs.

[Jim Cramer]

The kind of cease to give them. I was going to say use severance and finding jobs. How many of those people have incredible.

[Matthew Prince]

Someone who is a middle manager at Cloudflare can be a senior manager at a startup and it's much easier to find a job today than it will be in.

[Jim Cramer]

That's what I remember because you once told me how it's probably the hardest one among the hardest places on earth to get a job, right? So I figure that anyone who is pre qualified to get other jobs so that they would get jobs they're going to be.

[Matthew Prince]

And people are clamoring to hire those people. We're helping them make sure we gave one of the most generous severance packages. We want to make sure that those people succeed. They're great people. They just are not the people that we needed for the next stage of growth. And what we're doing is not eliminating workforce. We're going to have more people going forward, but those people are going to be different. They're going to be people building products. There are many people selling those products, and that's going to mean that we're going to be able to actually just drive more and more growth across Cloudflare.

[Jim Cramer]

That's what we wanted for shareholders. Now, I want to talk about Project glasswing Mythos and what it showed you and the. I know you've been in on it to try to figure out the way that things should be done. I think that this outfit does scare us quite a bit. Yep. The anthropic makes me feel like, well, wait a second. At any given moment, something's going to change badly in my life. To extreme.

[Matthew Prince]

I know. I think we've been partnered with almost all of the big companies. OpenAI anthropic, all customers of ours. Almost 80% of the AI companies are customers of ours. And we had access to Mythos very early on, tested it, and it's a pretty amazing thing. It's able to find new vulnerabilities in software unlike anything else. And I predict for the next two years, cybersecurity companies are going to be busier than ever. But the good news is, is that it's helping us build better software. I'll give you an example. At Cloudflare, we took models and we trained them on all the incidents we've ever had, the big public ones, but also the little quiet ones happen behind the scenes. And we showed a graph to our team where the incidents were kind of bouncing along what they normally were, and then they fell off a cliff. What happened was we actually built systems that measured how good our code was that looked for vulnerabilities that found that. And the incident, we turn those on, our reliability went up massively. And so I think for the next two years, every cybersecurity company's phone's going to be ringing off the. Off the. Off the hook. But two years from now, actually, if you're doing something like, like application security, it's actually going to get a lot harder for that to be a real business, because we're going to just write better software and that's where the platform like Cloudflare, that can build that better software, they can make sure this deploy, they can make sure it's available everywhere in the world and can scale. I think that's a real future for our business.

[Jim Cramer]

But listening the hyperscalers you taught me, until you got involved and started doing it, they were just scraping everything. I now find some of the hyperscalers don't use high, as high a quality source as I'd like. Is that because basically a lot of the better sources use you and they have no choice but to default to a not as good one or pay up.

[Matthew Prince]

Or pay up. And I think that that's what's going to happen is that the Internet is going to have a different business model going it forward. I would predict that in five years we're going to have 10, 100 times more agent traffic which is going on. So we need some way to compensate content creators like you for the content that you're creating. And what we hear when we talk to the AI companies is if we can build a system where they pay, you know, maybe a small amount to access a piece of content, but a huge scale, that that's something that they're all willing to do. And so there's a new business model of the Internet that's going to emerge over the next five years. And cloud, Cloudflare is going to be

[Jim Cramer]

at the center of, I think as someone who's been in this business for many, many years, if you don't succeed, there will only be two papers, not even two.

[Matthew Prince]

I mean, I know, I'm not even sure that that exists because you need some business model. And the future business model of the Internet is not going to be driven by ads or not ads like we think, because bots don't click on ads that are how we're going to get all of this traffic. So we have to come up with something different. In the same way that Google invented the business model that's powered the last 27 years of the Internet, Cloudflare is going to invent the business model, the next 40.

[Jim Cramer]

Well that means that there'll be a business and I think that's good for Margot. That's what we want. A1, we want what the founding father said, which is a strong press. That's Matthew Prince, co founder and CEO of Cloudflare with a stock that has been don't look at the ups and downs, look at the longer term direction because it's pretty fabulous. Money is back at the break.

[Mad Money Announcer]

Coming up, Cramer is Checking in with Entergy's CEO to see how the company is handling the demand of data centers

[Jim Cramer]

Next, Thanks to the great data center build out businesses booming for some of the electric utilities. Tech Energy, a regulated electric utility based New Orleans with a stock that's up more than 18% year to date, 32% over the past 12 months. Proud that we've been recommending it ever since my daughter went to Tulane. The company held its investor day today where management laid out some bullish long term financial targets. Thanks in part to met his big data center project in northeast Louisiana, but also some other big projects. Energy even came up with a plan for data centers to pay more for electricity in order to offer a fair deal to ratepayers. Thanks to their electric service agreements with the heavy hitters, they should be able to deliver $7 billion worth of savings to their customers over the next two decades. So let's take a closer look with Drew Marsh, the Chair and CEO of Energy to learn more. Mr. Marsh, welcome back to that money.

[Drew Marsh]

Thanks. I'm super excited.

[Jim Cramer]

All right, so I'm going to ask you something in light of your excellent analyst day. Do you think it's right that utilities are considered to be stayed solid or should they be considered to be secular growth stocks that pay good dividends and

[Drew Marsh]

we're stayed solid growth stocks.

[Jim Cramer]

Okay, I'll take.

[Drew Marsh]

We're both, you know, we have, we certainly are still paying dividends and we do predict you produce steady predictable returns but there are a lot higher than they have been in the past.

[Jim Cramer]

But you do have a gigantic capital plan. And I think when I first saw the increase I said gold. Are they going to be able to afford all that?

[Drew Marsh]

Yes. So our capital plan has doubled in the last two years, $67 billion. But it's most of that is going to data centers and supporting the infrastructure needed for them. And as you mentioned, we have our Fair Share plus pledge. The fair share part says that they are going to pay all of the incremental infrastructure costs during the life of their contract is needed to support them. But the plus part is that they are also covering some of the fixed costs. So that means overhead costs and storm costs that our existing customers would have already been paying. That's where the $7 billion of that.

[Jim Cramer]

Well, I mean I think that's incredibly important. Also growth is good. It allows more people to be put to work, food on the table, health care. Earlier today we had Micro and Gina Powell McCormick on to talk about Met as America's workforce Academy. And they're talking about funding $150 million for training program. Do you think you'd be able to use some of their people or you've got enough people to do all your jobs right now?

[Drew Marsh]

No, absolutely. And that's the kind of thing we like to partner on, you know, is creating workforce development programs. And so we are partnering with them and we're partnering with some of our other large data center customers like us and Google to find ways to continue to build the workforce in our region. Because it's not just data centers. It's also, as you know, LNG terminals, petrochemical facilities, steel mills. There is a need for a lot of skilled labor out there.

[Jim Cramer]

Well, in your last conference call, you talked about how reassuring a lot of people are interested. I was thinking, I think they're more than interested. I think you've got probably more construction going in Louisiana per capita than any other state in the country. That's possible.

[Drew Marsh]

I do, I believe that. Yes, I do. It's incredible the amount of construction.

[Jim Cramer]

It is great. Now also, I always tell these politicians that they think that the utilities give them bad deals. Well, you know what you should do? Try negotiating. Do you think that there's just a lot of people didn't understand that, look, it's a give and take process and they just didn't recognize what could be done on behalf of the ratepayers. But you saw it coming.

[Drew Marsh]

Well, I think it helps that the data centers really want to be good neighbors. They have reputations that they want to protect and they want to be part of the community. They want to invest in the community. I think that's really helpful. So when you have companies like Matt Aws and Google wanting to be good neighbors and I saw Ruth Porad at Google last week.

[Jim Cramer]

You did. And she pretty smart.

[Drew Marsh]

She is very smart and she was very much promoting that that topic for Google at every stop.

[Jim Cramer]

That's terrific. We tell her to come back on the show. I would love to see her. Right. So I want to talk about energy mix. You mentioned several times that you do want to revisit the idea of more nuke. But we know nukes very expensive. But nuke is clean. You already have an existing nuke footprint. Wouldn't it be behoove you not to just be saying, listen, we're going to start putting some up right next to other nukes because I imagine that you have an easier time getting them through the regulatory process.

[Drew Marsh]

We do. There are sites that we have, as you mentioned, in fact, at our Grand Gulf nuclear station that's what I was thinking. There is an early site permit that we already have with the NRC that's, you know, basically starting on first base towards building a new nuclear project. But, you know, we still need to manage the cost and the cost uncertainty associated with that. We're a rate regulated utility. Right. And you know, we know that building this is probably going to be in part, if not completely driven by the data centers.

[Jim Cramer]

Yeah, it has to be. Because frankly, I would say to you, are you kidding me? You're the best natural gas state in the union.

[Drew Marsh]

Yeah, we are. There's a lot of natural gas, you know, coming out of Texas and in Louisiana. There are pipelines going all over the place. We had a map and our materials today for our analyst day. It talked about all the intersecting pipelines at many points where we are built. You know, we have 10% of the, the nation's natural gas supply on a daily basis flowing right past a particular.

[Jim Cramer]

Are you ever concerned, I know you have doing all the work with the LNG that, that there will come a time when we're exporting too much or we're just so. Is it just so bountiful we shouldn't

[Drew Marsh]

worry at some point? Yes, but that's way out in the future.

[Jim Cramer]

All right, good. And then, then finally, just in terms of the media deal itself, this is. We own the stock for the Travel Trust. How do you make it so they do well and you do well because to me you got to find a balance. But I know the ratepayers want to say, listen, I don't like matter. I want as much money as possible.

[Drew Marsh]

Yeah, well, I mean we have to. It's a partnership and certainly the data centers and the things that they're doing with that, there's a lot of economic value in all that. We are going to get a rate regulator return and they know that. So, you know, the really great thing about the partnership is we can say here's an open book, this is everything that we're going to do. You can see it all.

[Jim Cramer]

All.

[Drew Marsh]

All we're going to do is earn our rally return. On top of that, it makes it really simple.

[Jim Cramer]

Well, I have to tell you, Drew, if they were all like you and I'm not, I like a lot of you tell you, everyone knows I like so many business people, but this is the common sense thing that would make it so that senators from all over the country who are angry at the process would realize no reason with people, you'll get it done. And if they don't like, if they don't reason with you, then go to another state. I wish that were the way we approach this, so that you do the best for ratepayers and you do the best for the customers. That's how that should be. That's Andrew Marsh, chair and CEO of Energy. Guys, if you want a utility, you can do a lot worse than ETR it's one that we've liked since 2012. There we go. Their money's back here for the break.

[Mad Money Announcer]

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

[Jim Cramer]

It is time. It's time for the light round. Quick. Also, my steppers are playing us now. And then the lightning round is over. Are you ready? Ski Dadto light round criminal. Start with Alex. California. Alex. So we have Jim. Look at tri. It's Walter street. Dead wrong for pricing. Thomson Reuters. Like a legacy publisher. Really? Fiduciary grade co. Look, I understand why you think the Wall street is wrong. But the problem is, is that this is media. And media has been decimated by all things AI And I can't get behind it. It's just too hard for me. I don't want to do it. Let's go to Ben in Arizona. Ben. Hi, Jim. Thanks for taking my call. And, of course, thanks for all you do for us out here. Oh, thank you. You're welcome. I have a spec stock. And you say we should all have a spec stock. Yep. And I'm playing with the house's money, so this one's even maybe a bonus. The company called Exoris, symbol X, E, R, S. I know because it's injectables. Okay? Because I happen to be involved in some other stuff that I would realize about, and I don't talk about. But I will tell you this. That's precisely what I want want you to do. That's precisely what you need. But one of them, just one. That takes care of all the jonesing you're doing. Respect. None of that double triple X and leverage and stuff. Just one spec will do it for you. And I like that attitude. Let's go to JJ in New York. Jj? Booyah. Kramer. Following a military drone manufacturer on this symbol on DS Ondas. Oh, my God. This is. Sir, this is a. This is a Meme stock. It's just a Meme stock that. It's about the autonomous system meme. And I can't get behind a Meme stock. This market's too horrible. I mean, meme stock could rip your lungs out. I'm not going to let that happen to me. Let's go to Julian. New York. Julian. Hey, champ. Booyah. I'm a free caller and I want

[Matthew Prince]

you to have me on the show.

[Jim Cramer]

I want to know your thoughts on N Group. Okay? Unless. Until this market turned ugly, Nubius is one of my favorite stocks. Now, I gotta pull back because the facts of this entire market have changed. It's no longer got the right coloration to be able to speculate on Niebus. Let that buddy come down and then we'll take a look that. Let it come down. Now I want to go to Kevin in Texas. Kevin? Oh, yeah, Jim. I got a question about Wicks. I want to know. Okay, I got to go. Guy Zach upstairs. And he can duplicate whatever Wicks does. And he comes at a fraction of the cost. And they charge $10 a thing. Just kidding. And Zach's worth a lot more than Wicks. All right. Let's go to J.D. in South Carolina. J.D. booyah. Jimmy, Jill, thank you for your wizard. What's up? I own this stock since it was $10 a share. It closed today at 27.73 and has upcoming earnings in two weeks. In your opinion, sail or hold Carnival and wait for $34 a share. Okay, so this is very complicated for me because I like Carnival. It's low multiple. But I think Viking is the one you can sail home in. I think come sail away with Viking for the next five years. And that, ladies and gentlemen, conclusion of the Lightning Round.

[Mad Money Announcer]

The Lightning Round is sponsored by Charles Schwab. Coming up, as we wrap up another busy day Kramer has some final thoughts. Don't miss his. No huddle next.

[Jim Cramer]

Hey, Jim. Your mission has been very successful in our family. I listen to your show multiple times a week for investing knowledge. I just want to say thanks. I love your show.

[Drew Marsh]

Thanks for always looking off the blue guy.

[Jim Cramer]

A huge thank you for all you've done to make me a better investor. I got a call. Crazy. Because I can't make a move without this guy. I want to make people better investors if they make money. Fantastic. Let's go to work. Anyone who's ever seen me on air knows I dislike being negative. Yet when I was weeding in the garden this weekend when I was tossing a line that canal. Places of sanctuary for. For me, all I could think about was how I just didn't like this market. Now, these are locations where I try to have no thoughts whatsoever just listening to some Beethoven. I like the six when I'm pulling the weeds or Dylan or Neil Young. Or maybe nothing but the bees when they swing around. That's great. For me this weekend though, I was just ornery, focused on this market as if the were open the whole time and leave me. My wife Lisa knew it. She tried to stay away from me. Sunday when I wrote that think piece I do for the CNBC Investing club, I did four drafts. Each time trying to be a little less costing a little more hedge. I drop less scathing. For example, in the first half I Talked about how SpaceX will be a deal for the ages. But I don't have time for the ages. I want to return within the expected lifetime of my generation. I wonder which sci fi movie best talked about colonizing on Mars, digging up the minerals so I could make more sense of the perspectives. Then again, I fear why bother? I'm a huge user of Starlink. It's fantastic. Best value, best product. I like Elon Musk. He's made it clear there's nothing near term that could make the company profitable. So I was decided, fine. Hey, you know what? Live and let live. It's going to be okay. So then why am I feeling bearish? What bothers me? Combination of things and they're like a mosquito bite square between my shoulder blades. No matter what I do, I can't seem to get to it first. I'm watching this relentless decline in bitcoin. I'm saying to myself, holy cow, we got to focus on this. Is there ever a lot of speculation this market more than I realized. The charts of bitcoin are so bad, so ugly. I could see this thing coming down big. Especially since some highly levered bitcoin stockpile like strategy might not be able to keep it propped up as effective as it's done over the last few years. The leverage extends all these two and three times ETF bets in the market. Why the heck do people have to use this stuff? It's so dangerous. Should never have been allowed to begin with. Get off a leverage, people get off a margin. Then there's all these IPOs and secondary offerings that's real poison. It hasn't dawned on you There's a smell of desperation here that's truly ranked. Space X might be the least of our problems. The fact that Musk invited a lot of retail and that's terrific. But I'm beginning to think that a lot of that money is coming in too hot. Like the money furiously being dumped out of bitcoin. We all assume the Space X deal will be fabulous, but what if the stock opens at say $5 trillion first because of over enthusiasm and all those market orders coming in and then the stock is just cut in half. Similar to the ill fated Cerebras deal that everyone knows was a bomb. People who bought at the opening with market orders, they lost fortunes on that one. Promise me you won't do the same thing with Space X. Promise me how all these other deals go if SpaceX doesn't go perfectly. I know Musk has a great track record, but there are an awful lot of moving parts here. Third issue, the war. The President's fine is saying that things will be winding down just a few days, whatever. The only thing that's been certain though is that the Iranians seem pretty eager to keep fighting. You need two sides for peace. Finally, I'm wondering, how did Open Air and Anthropic get up to these incredibly vaunted levels in the privacy private fundraising rounds? To begin with, Anthropic is real enterprise revenue that's growing like a weed. But OpenAI feels a lot more speculative to me. They both have gone up so much on nothing in the private market they lose fortunes just the same. Rich people and companies and their minions bidding up their own positions along with other fellow travelers, up and up and up. The one thing they never thought of though, is that the private markets could be different from the public markets, and the public markets may not have enough money left to let these people get out of their shares. Maybe too much money will have been lost by the time we get there. Maybe there's too much invest in many other speculative stocks and coins and options, leveraged ETFs, and the edifice can't handle any more deals of this size. These are the scenarios that interrupted my ability to cast to the middle of the canal. It made me miserable despite the beauty of a well weeded garden. I hope next week's better, but after crazy out today, I can't bet on it. Like said, as always, a bull market summer pumps are just for you right here. Mad Money. I'm Drew Kramer. See you tomorrow.

[Mad Money 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 Anderson 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 trading@schwab is now

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