Mad Money w/ Jim Cramer 7/9/25

Summary

Mad Money w/ Jim Cramer - Episode Summary (July 9, 2025)

Hosted by CNBC, "Mad Money" with Jim Cramer offers an inside look into the strategies and opinions of one of Wall Street’s most respected money managers. In the July 9, 2025 episode, Jim Cramer delves deep into the meteoric rise of Nvidia, explores the impact of new legislative changes on the sports betting industry, interviews Seth Sternberg from Honor, and provides actionable stock insights during the Lightning Round.

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1. Nvidia's $4 Trillion Milestone: A New Tech Titan

Timestamp: [01:25] – [05:49]

Jim Cramer opens the episode with exuberant praise for Nvidia, celebrating its unprecedented achievement of becoming the first $4 trillion company. He attributes this milestone to the visionary leadership of CEO Jensen Huang, whom he describes as unparalleled in the tech industry.

Jim Cramer [01:30]: "Nvidia became the first $4 trillion company. And it's hard not to celebrate the success of this business or the man behind it, Jensen Huang, who has truly changed the world. Your world."

Cramer highlights Huang’s humble beginnings, noting his work ethic and the personal traits that have driven Nvidia’s success. He contrasts Nvidia’s current trajectory with historic giants like Microsoft and Apple, emphasizing that Nvidia is spearheading a new industrial revolution centered around artificial intelligence (AI).

Jim Cramer [03:20]: "His graciousness and gratitude are exact counters to pomposity and arrogance. For Jensen, this is just another day of getting up at 4 AM and doing all the work he has to do."

2. Comparative Analysis with Tech Giants

Timestamp: [05:49] – [15:09]

Drawing parallels with Microsoft and Apple, Cramer underscores Nvidia’s unique position in driving the AI revolution. While Microsoft reigns in cloud services and Apple dominates the consumer electronics market, Nvidia stands at the forefront of AI advancements, enabling breakthroughs in various industries.

Jim Cramer [07:31]: "Nvidia’s up 80%, David. Because they're not splitting the stock. I'm going to get a split. That's what I'll do here. I promise."

Cramer argues that unlike its peers, Nvidia is not just a software giant but a hardware powerhouse essential for AI applications. He forecasts continued growth, suggesting that Nvidia could reach a $5 trillion valuation, reinforcing his mantra: "Own it, don't trade it."

3. Navigating US-China Tech Tensions

Timestamp: [07:27] – [15:09]

Cramer discusses the geopolitical tensions between the US and China, particularly the strategic importance of Nvidia’s chips in this high-stakes rivalry. He explains how Nvidia’s technology is pivotal for both the US defense sector and Chinese advancements, making Nvidia a critical bargaining chip.

Jim Cramer [08:59]: "We're in a cold war with China. They want to choke us, and we want to choke them. Nvidia chips hold the key to the new industrial revolution."

Despite potential tariffs, Cramer remains bullish on Nvidia’s dominance, emphasizing that competition has yet to catch up due to Nvidia’s relentless innovation and strategic foresight.

4. Impact of the Big Beautiful Budget Bill on Sports Betting

Timestamp: [24:09] – [30:07]

Jim transitions to legislative impacts, focusing on the "Big Beautiful Budget Bill" and its obscure provision affecting the sports betting industry. The new tax rules limit the deductibility of gambling losses, which could have severe repercussions for professional gamblers and, by extension, companies like DraftKings and Flutter Entertainment.

Jim Cramer [24:09]: "This small change to the way gambling winnings are taxed was added to the Senate version of the bill... it will essentially put professional gamblers out of business."

Despite the potential negative impact, Cramer remains optimistic about the long-term prospects of the leading sports betting firms, arguing that the majority of users lose money and the major sportsbooks cater to customers unlikely to be significantly affected by the tax changes.

Jim Cramer [29:00]: "I still like DraftKings and Flutter. These two companies have emerged as an effective duopoly in online sports betting."

5. Interview with Seth Sternberg, CEO of Honor

Timestamp: [32:40] – [39:29]

In a compelling segment, Cramer interviews Seth Sternberg, the co-founder and CEO of Honor, a leading home care technology company. Sternberg discusses the challenges and innovations in the home care sector, emphasizing the role of AI in enhancing service personalization and efficiency.

Seth Sternberg [33:03]: "We send personal caregivers into the homes of older adults to help them with daily activities, aiming to revolutionize societal care for the elderly."

Sternberg highlights Honor’s strategy of creating an exceptional work environment to attract top-tier caregivers and leveraging AI to match caregivers with clients effectively. He envisions a future where humanoid robots complement human caregivers, reducing overall care costs without sacrificing the personal touch essential in caregiving.

Seth Sternberg [36:42]: "AI can make personal services more personal and efficient, helping to reduce the total cost of care."

6. Lightning Round: Rapid Stock Insights

Timestamp: [39:38] – [43:43]

The episode culminates in the high-energy Lightning Round, where Cramer responds to listener calls with quick buy, sell, or hold recommendations:

• Mark from New York: Questions about biotech investments. Cramer advises caution, noting high risks associated with biotech stocks.

  Jim Cramer [40:24]: "They lose so much money. It's very hard for me to get a handle on it."

• George from Arizona: Inquires about Ouster Inc., a lidar technology company. Cramer advises against investing, deeming it too speculative.

  Jim Cramer [41:12]: "Too speculative. Let's go to John in Michigan."

• John from Michigan: Asks about silver and First Majestic. Cramer recommends Panama American over unfamiliar silver stocks.

  Jim Cramer [41:45]: "First Majestic, not familiar with... Panama American is the one you want."

• Michael from Tennessee: Questions about FMC's future amidst new tariffs. Cramer remains unsure, citing the need for more information.

  Jim Cramer [42:30]: "This is a work in progress. I wish I knew, but I don't."

• Curtin from Illinois & Others: Discuss flashy stocks and AI-related investments. Cramer reiterates his confidence in Nvidia and remains cautious about other speculative AI stocks.

  Jim Cramer [43:26]: "I believe in Nvidia... Maybe money. I'm Jim Cramer."

7. Closing Remarks: Focus Amidst Market Noise

Timestamp: [43:59] – [47:19]

In his final thoughts, Cramer urges investors to maintain focus on profitable business ideas despite the overwhelming noise from political events and tariffs. He points out significant corporate news, such as CEO transitions at Wendy’s and Hershey, and Boeing's impressive second-quarter deliveries, which often go unnoticed amid political distractions.

Jim Cramer [47:07]: "Keep your eyes on the prize. Too many opportunities are being obscured by the sound and fury in Washington."

Cramer emphasizes the importance of staying informed about corporate developments to capitalize on missed investment opportunities, advocating for a disciplined approach to investing regardless of external political turbulence.

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Notable Quotes:

• Jim Cramer on Nvidia's Leadership:

  "Jensen impresses me as someone who still acts like he works at Denny's, still trying to do a great job, still being respectful and kind and helpful."
  [02:15]

• On Owning versus Trading:

  "Nvidia. Own it, don't trade it."
  [01:40]

• On AI and Home Care:

  "AI can make personal services more personal and efficient, helping to reduce the total cost of care."
  [36:48]

• Regarding Corporate Focus:

  "Keep your eyes on the prize. Too many opportunities are being obscured by the sound and fury in Washington."
  [43:59]

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Conclusion

This episode of "Mad Money" offers a deep dive into the strategies driving Nvidia’s unprecedented growth, the intersection of technology and geopolitics, and the transformative potential of AI in sectors like home care. Through insightful interviews and a dynamic Lightning Round, Jim Cramer provides listeners with nuanced perspectives and actionable investment advice, all while emphasizing the importance of focusing on foundational business strengths amidst external market distractions.

Transcript

[Jim Cramer]

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[David Faber]

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?

[Jim Cramer]

Learn [e-mail] LOCALBUSINESS bank of America Official bank of FIFA Club World Cup 2025 Copyright 2025 bank of America Corporation.

[Seth Sternberg]

All rights reserved.

[Narrator]

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[Jim Cramer]

Hey, I'm Kramer. Welcome to MAV Money. Welcome to Kramerica. My friends, I'm just trying to make you a little money. My job is not just entertain, but educate to teach you. So call me at 1-800-743-cmc or tweet meyim Kramer Nvidia Own it, don't trade it. That's been my Advice for about $3.7 trillion in market capitalization today, Nvidia became the first $4 trillion company. And it's hard not to celebrate the success of this business or the man behind it, Jensen Wong, who has truly changed the world. Your world. It's a big deal to hit $4 trillion and it captivated the whole market today. Dow gaining 218 points. Videos in the Dow S&P advanced.61% and the Nasdaq climbed 0.95%. Before I get into anything else, let me just say this. Jensen Huang is like no other executive I've ever met. I've met a lot of when he was in his formative years, Jensen worked at Denny's as a busboy, dishwasher. All those other jobs we don't ever want to do, even if, like me, we did them. I know it seems preposterous, but Jensen impresses me as someone who still acts like he works working at Denny's, still trying to do a great job, still being respectful and kind and helpful. Still trying to get ahead. As for the $4 trillion mark, Jensen doesn't have time to celebrate. It's not going to stop. That would be hubris. This man is no hubris. Instead, he has two qualities that are in very short supply these days anywhere. His graciousness and gratitude. The graciousness is an exact counter to pomposity and arrogance. He doesn't have any of those qualities either. The gratitude. It's to those who believed in him, to the shareholders, to those who stuck with him, to those who held on through thick and thin. For Jensen, this is just another day of getting up at 4am, doing all the work he has to do, and then spending 8am on with his teammates at Nvidia. When you're with him in the company's headquarters, he seems to know everyone by name. Everyone wants to have a selfie with him. He always seems to oblige. I'm not allowed in headquarters unescorted. But my late dog Everest, the one I renamed in video, he was. I renamed him that many years ago because I couldn't get anyone to buy the darn stock. Can you imagine that? And grew with gents and appreciated the gesture. Now let's talk about this. $4 trillion. Cheap. Let's put it in perspective. In the last 25 years, only four companies have earned the title of the biggest public company in America. Microsoft, General Electric, ExxonMobil and Apple. GE wore the crown twice, Microsoft five times, ExxonMobil seven and Apple an astounding 11 times. Hallowed ground, of course. G imploded not long after. Too much leverage. ExxonMobil. Oil prices shot up and Exxon was the biggest company in the industry at that time. But the two that still rival Nvidia, Microsoft and Apple. I think that's the most telling part of the story. Apple took top honors because it has the best smartphone in the world. It's something that at one time everyone wanted, including China. Therein lies the complication that will likely keep Apple from toppling in video before the cement rise, much to everyone's chagrin. Apple's in the doghouse with the Trump administration and they might not get out of it until they start making iPhones here. That said, Apple can still get right back to the horse race, but it will take more and better AI products. It needs a new hit too. That doesn't mean you should give up on it. For me, Apple remains and own it. Don't trade its stock. That's the status it deserves as long as it keeps making the phones with the highest customer satisfaction. But I don't see it taking that crown back from Nvidia anytime soon. How about Microsoft? It's doing incredibly well. Microsoft's the software king. It's the Top cloud services play. It's the number one gaming company. It's embraced AI with abundance. According to a Bloomberg article today, Microsoft claims to have saved $500 million in its call centers while increasing customer and employee satisfaction. But the fact is, neither Microsoft nor Apple can claim that they're currently creating a new industrial revolution like in video can. In fairness, they did create the last industrial revolution, the rise of the personal computer. But that was a long time ago. Just a few years ago, Nvidia was a company that made incredibly fast semiconductors that improved the quality of video games. Nice business and not earth shattering. Jensen envisioned so much more though. He knew that I would transform everything and his chips allowed AI to work. You could ask his chips questions and they could generate answers. Generative AI. I searched for the superlatives of this extraordinary achievement.

[Caller]

Here.

[Jim Cramer]

How about this? Every single computer with a GPU that's not as good as Nvidia is obsolete. Or a CPU for that matter. The users just don't know it. Everything needs to be replaced. His chips and the software that comes with them allow companies to do breathtaking things. They enable self driving cars. They enable humanoid robots. Right now Jensen wants them to do the three Ds that's are the dirty, the dangerous and the dull jobs. They'll no doubt do far more than that, replacing white collar jobs of all kinds. Jensen likes to explain that every other industrial revolution created many more jobs than were lost. Which is true, although the new jobs don't necessarily pay as much as the old ones. Some analysts saw this coming. Ben Righteous Families in Melis can show you piece after piece where he said that in video is going to overtake all companies. And he kept on the beat that software along, the most beloved part of tech, would be overturned by hardware in terms of its importance and size in the market, including video. He's been dead right. Congrats to Ben for taking a radical position that hardware could exceed software in value and Nvidia would lead that charge. But mostly sympathetically, did not see this coming. Nvidia was repeatedly misjudged as a parvenu, a one trick pony, if not a flash in the pan. Jensen was never to be considered a goat, let alone the goat because he was from the hardware side, nothing more. Each great quarter supposed to be the last one. Each customer supposed to be working on something better. Each iteration supposed to be too expensive versus what it provided. Endless doubt, no belief. One day we'd wake up and see that Microsoft or Meta or Output or Amazon or Chinese company we'd have something better. There's even been some playful skepticism all along. Especially from my squawk of the street partner, David Faber.

[Seth Sternberg]

Hey, if Nvidia is so great Jim, then why is the stock down?

[Jim Cramer]

Because it's up 80, David. It's been up 80%. Okay, because they're not splitting the stock. I'm going to get a split. That's what I'll do here. I promise. I'll get you a split of Nvidia stock. How's that? But we got the split. But the competition hasn't caught a video. You know why? Because Jensen wakes up before the other guy. Guy works harder than the other guy to make sure the video stays on top. That's how you get to $4 trillion. Just how great is Nvidia? Let me pay it the highest compliment that I can. That I can. In a country right now we're in a cold war with China. They want to choke us. We want to choke them. As the President would say, who has the cards? The problem is we seem to want everything from China. So the President has to tariff the heck out of this stuff to make it uncompetitive. The Chinese though, they seem to want only one thing from us. They want Nvidia chips. Not even the best ones. And you know what? They're right to covet them. These chips hold the key to the new industrial revolution. Sometimes Nvidia seems like our only bargaining chip with China. But it's a big one. Bigger than anything they have. We've got the cards because in video makes the cards. We have the cards because of Jensen Wong. But he's so darn humble they don't ever point this out. Guys like me have to. Bottom line Nvidia. Own it, don't trade it. Oh, and see you at $5 trillion. Let's go to Roger in Florida. Roger.

[Caller]

Hey JC congrats on 20 years and a big booyah.

[Jim Cramer]

Thank you. Thank you very much. Thank you.

[Caller]

Hey big fella. I've been watching you for the past 10 years and recently became a club member and an oscillator subscriber. So thank you very much.

[Jim Cramer]

Oh, hope you'll be as part of the virtual annual meeting on Friday. I hope you'll be be in there. And how can I help you now?

[Caller]

Okay, I got a stock symbols corz. This is core scientific transactions from a mining to a data center operation.

[Jim Cramer]

Right? Right.

[Caller]

Massive long term debt, negative profit margins. How in the world are they going to get all this negative consistent to generate real revenue and profitability. That's the first question.

[Jim Cramer]

But you know that they remember they're selling themselves to core.

[Caller]

We.

[Jim Cramer]

So you can just sell it tomorrow and ring the register. Why not ring the register? You're not an arbitrageur and neither am I. Let's go to Keith in Pennsylvania.

[Caller]

Keith, Mr. Kramer, how are you doing this evening?

[Jim Cramer]

I'm doing well. Keith, how about you?

[Caller]

I'm doing fantastic. But I do need your help a little bit here with a stock.

[Jim Cramer]

Sure.

[Caller]

So I'm a little curious about Berkshire Hathaway because we're at all time highs yet the stocks pulled back 11% since Warren Buffett decided to step down his role a little bit here. And we're now crossing the 200 moving day average for the first time in three years with it. So if you could just give me a little insight or wisdom as to what's going on with the stock, what to expect moving forward with investing in it, any help would be great.

[Jim Cramer]

Sure. Well, look, Warren Buffett is tremendous and I have to believe that he's also tremendous in picking a successor. So I'm not nearly as concerned as the sellers. I would encourage you to hold on to this great company and it's not just because I love the man. It's because I think the man is excellent and he would pick someone who's great and I think he has it. So let's hold on to Berkshire. Let's go to Cordale in Ohio. Cordale.

[Caller]

Hello, Jim, thank you for having me on Mad Money today.

[Jim Cramer]

Thank you for coming on Mad Money. How can I help you?

[Caller]

I was calling in today about Uber. I had a question upon. Well, a couple questions once starting off is I see it's getting close to that hundred dollar price and I know at times stocks could get up there and do you see that company rising above that price target as it gets.

[Jim Cramer]

Closer or I think that Uber. We're going to look at the fundamentals and the fundamentals are excellent. I don't think it's going to be contained by $100. I have great AM conditions for Uber in my head and think it'll be up for multiple years and you should own the stock. Okay. Nvidia's 4 trillion dollar market cap milestone is just another reason to own it. Don't trade it. Oh, and I think you'll see $5 trillion left out the main point. Thank you, Jen Spumar. Thank you. I'm inbody tonight. The stocks for some of the largest online retailers haven't hit new all time highs in several months. I'm going off the chart to see if higher prices are in store for some of the market's biggest names, then sports betting companies have been on a hot streak in 2025. But could an under the radar provision in the GOP's budget bill put an end to the recent run? I'm telling you where I stand, and as the world population continues to age, could honor a private player in the healthcare space hold the key to revolutionizing the industry? I've got the company's CEO, so stay with Kramer.

[Narrator]

Don't miss a second of Mad Money. Follow imkremer on X. Have a question? Tweet Kramer Madmentions. Send Jim an email to madmoneynbc.com or give us a call at 1-800-743-CNBC. Missed something? Head to madmoney.cnbc.com.

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[Jim Cramer]

I keep telling you not to get so worked up by what's happening in Washington because this market's driven by big business ideas and right now a lot of them are working. The newfound strength of the bull market goes without saying as Nvidia hits another new high and $4 trillion valuation. And that's just the leader. The whole complex keeps winning everything from Microsoft to Marvel Tech to Broadcom. But tonight I want to talk about another aspect of artificial intelligence. Because there are only so many places where this technology is useful and one of them is retail, especially online retail. This sector is ferociously competitive. Many retailers have fallen by the wayside over the years because they couldn't keep up with the biggest of the best. And I could make things even more difficult for the smaller operators because one key part of this technology is inference and it can help companies make better recommendations to you, the customer. That's why tonight I want to go off the charts with Bob Lang. He's the founder of Explosive Options.net and the author of Know youw Options. Take a closer look at some of the biggest online retailers out there. Now some of these are obvious. Amazon and Wal Mart are number one, number two. But you know who comes in third place? Apple. Even if they can't make us make as much from the App Store as they used to think, thanks to recent court decisions, we're still talking big money here. And their website moves tons of hardware. Now as Lang sees it, this should be a good moment for retail. The economy remains robust, employment strong, and even if interest rates are still high, the consumer has money to spend. Probably doesn't hurt consumer confidence that there are tax cuts on the way. Plus, back to school season is just around the corner. A lot of spend there. So let's take a look at the charts of these three top digital retailers. I think be some surprising things for you here. We're going to start with the daily chart of Amazon, which is Lang's favorite right now after its remarkable run over the past couple of months. Even after this move, Amazon is trading at $222 and change, down about 20 bucks from its all time highs. Lang points out that since mid May the stock has formed a nice upward channel with higher highs and higher lows. Textbook definition of quality uptrend. He also spotted a gold golden cross in the moving averages right there where the 50 day moving average crosses over the 200 day, that's a very reliable sign that stock's going to continue to rally. At the same time when you look near the bottom at the moving average convergence divergence or the MACD line, which key momentum indicator that can help spot changes in the stock's trajectory before they happen. Lang says something's good on here to that and in here. The black line here has crossed above. I know it's tiny but cost above which is a MACD buy signal and that's one of the most reliable buy signals that there really is in the entire chart book. Plus ever since Amazon bottom in early April, the stocks clearly been attracting buyers. You can see that. Look at this chicken money flow. That's another way that you can gauge strength. It measures buying and selling pressure. Down at the very bottom of the chart here, the chicken money flow remains positive. Okay, it's in the green, meaning the buyers haven't gone anywhere. Lang also points out the volume trends have been bullish with Amazon often rallying on very high volume, which indicates that big institutional money managers keep loading up on this one. Finally, let's not forget the prime days in full swing. Although this year is four days and we're not just two now. I'm only on day two now what I want to explain this for a second. There's a lot of chatter this very evening that so far Wall street will be disappointed. Disappointed with the numbers from prime and that that would make, that would obviate a lot of stuff we see. I beg to differ I think because we're on day two and there's four days, you cannot make a judgment yet. I'm willing to go with Lang's judgment on the chart more than the so called chatter about how Prime's doing in this sacred four days. But as Lang sees that Amazon's worth buying here and he'd recommend on a pullback because he could see the stock to 20 at 20 to 22 going. I know it sounds like hyperbole but to 60 or 270 by the end of the year. As for me, I wouldn't bet against it. The Chapel Trust has a very big position and I do believe that it can go higher. I don't know. 2 6270. Now the next one. The number two online retailer, the number one brick and mortar retailers, Wal Mart. Check out the daily charter. This is now. This is so time for Wal Mart stock. But Lang says that makes it to the idea ideal Time to buy the stock. The price action here has been sideways with the stock stuck in the range of 93 to 100 for the last few months. Lang thinks that Wal Mart simply digesting its big move up from the April lows. That makes some sense to me. It just had. It was a gigantic gain. He'd be a buyer on weakness. Why? First off, now you go to the bottom the chicken money flow. It remains positive, although weaker than it was in May. Still, the big institutional buyers clearly haven't finished loading up the truck. More important, the macd line has made a bullish crossover. All right, there's that thing again right there. It's the crossover that you really want to see and this one has it a little bit even more definitive than Amazon. The black line crossing above the red one. And again that's possibly the most reliable positive signal in the book. Now Walmart ports next month and Lang thinks it might be a good time to start buying the stock ahead of the next quarter. Right now this thing trades at 96 and change language. It can make a run at its February highs of 105 for the end of the year, perhaps going all the way to 110. I agree with them. I think Wal Mart is a great level to buy. Chapel Trust, Oregon's Costco and we already own Amazon. Don't feel easy, would need a third. But I do like Wal Mart very much. Finally, how about the daily chart of Apple? Now I know this isn't what you would normally think of as an online retailer, but it's actually one of the most successful online specialty retailers on earth. Apple's online sales growth has been staggering, more than doubling between 2019 and 2021 thanks to Covid before seeing a decline in 2023 as the pandemic get it. Last year saw a recovery for Apple's digital sales though and I'm never willing to count this company out because it is such a tremendous long term track record. Looking at the daily chart, Lang points out that Apple's out broken out from its recent price range on the on higher volume. Most people don't think it has, but it has. And that's breathing new life into a previously moribund short. While the stock's still below its 200 day moving average. Not through that yet. It's getting closer and closer that level. It's also closer to filling in the big gap down from early April. That would be monumental. Lang likes at Apple has started climbing again because when it makes a move higher, that move tends to last a long time. Look at what happened when the stock caught fire back in late of 2024. I remember that one. How about you? That gave you a tremendous rally with the stock gaining 20% in just two months. Still trying to work off that. I think Apple's consistency, it's constantly being plagued by doubters, right? But when it starts running, it really matters. This chart does not show about management. Turnover doesn't. And Lang has good reason to believe that this is just beginning. The macd line has shot higher, making a bullish crossover again. There you go. In the middle of last month right before the stock really took off. That said, Lang points out that the big money clearly hasn't gotten the memo as the stock will take a money for not so good here it's gotten weaker. But Lang thinks it might be just a matter of time before that turns around too. In his view, Apple moves slowly and if its stock can sustain its newfound positive trajectory, the big money will follow. Apple's currently at $211 stock and he sees it will go to 225 before it runs in any resistance. And he wouldn't be surprised if it can eventually work its way back to its February highs of $250 by the end of the year, which would give you a nice 18% gain from here. Now there's. That's a contrary view. As you know. Most people I know think that the wrath of Trump will keep this one down. We still say own it, don't trade it as it has the best cell phone there is. And as long as customer satisfaction is the most important issue, we will keep our position for the trust. Something we will talk about and reaffirm at Friday's annual club meeting. I hope to join you there. Here's the bottom line. The charts is interpreted by Bob Lang suggests that Amazon's got a lot more upside, Walmart could be ready to run and the long abandoned Apple might finally have its move back. Their money's back.

[Narrator]

Coming up, how could an under the radar tax provision in the big beautiful bill impact sports betting stocks? Kramer's laying out the play options 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.

[David Faber]

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[Jim Cramer]

With the Big Beautiful Budget bill signed into law last week, we're now stuck with the onerous task of figuring out what's actually in this massive piece of legislation and what it means for all sorts of industries. In some cases. Tricky because even when the new rules are clear, it's not obvious how they'll play out. Take the sports betting space, one of the fastest growing industries in America over the past few years, dominated by DraftKings and Florida Entertainment, the parent of FanDuel. There was an obscure provision in the Big Beautiful bill added late in the process. It seems like it could impact these companies definitely, but Wall Street's had a strange reaction to it over the past few weeks. See buried within the legislation, it's at the bottom of page 237 of the 870 page behemoth is it changed in the way that gambling income is taxed. Under the current law, you have to pay taxes on your gambling winnings. Crucially, though, if you also have gambling losses, you can deduct those from your winnings so that you're only paying taxes on your net winnings the same way we would do it in the stock market. So if you win $1,000 betting but also lose $1,000 betting, you don't pay a penny in taxes, which makes sense because you didn't make any money. But starting next year, that's about to change. While you'll still pay taxes on your gambling winnings, you'll only be able to deduct 90% of your gambling losses. So in that same example I just gave you win $1,000, also lose $1,000, you'd only be able to deduct $900 in losses, meaning you'd have to pay taxes on the remaining $100 the winnings. I think that's brutal. This small change to the way gambling winnings are taxed was added to the Senate version of the bill at some point last month, and we only started to see people raise the issue last week. Personally, I didn't hear about it until Professional Poker Player posted it on X last Tuesday, explaining in a four minute video that this rule will essentially put professional gamblers out of business. He gave the example of a professional poker player who might make $200,000 a year from 5.2 million in gains and $5 million in losses. With the new rule only letting them deduct 4.5 million in losses, that player would be taxed as though they made $7,000, meaning they probably owe more in taxes than they actually made that year. Not a good business of course, it's much bigger than just a relatively small number of professional gamblers. Once the bill was signed into law by President Trump on the fourth of July, people finally started asking what this new rule means for the gaming industry, especially the popular online sport books like DraftKings and FanDuel that dominate the business. It's easy to imagine how this new legislation would damage the whole industry. Forget professional gamblers. If regular betters are facing the possibility of having to pay taxes if they break even or even lose slightly, they might decide that it's not worth doing. Heck, even the winners will have to pay more taxes on the gains. But you know what? Since the Senate unveiled its version budget bill in mid June, the version that included the change to gambling stocks gambling taxes, the stocks of DraftKings and Flutter and have been roaring draftings rallied nearly 20% in June. Flutter was up 13% and they're both basically flat in July when people started focusing on this issue. So what the heck is happening here with this taxation thing? Okay, on Monday, analysts citizens published a note on the implications of the budget bill for the online gambling space and offered a more tempered view on the subject. While they acknowledge the problem, these analysts aren't too worried about it because the major sportsbooks already do everything they can to push away customers who win too often known as the Sharps. They're also not worried about so called VIPs which are people who bet a lot but don't do as well as the Sharps. Because in the analyst words, quote, sports betting companies are only catering to these players knowing they are net losers in the long run which would not be impacted by the incremental taxation, end quote. Basically the new taxation is very bad for professional gamblers or anyone who knows how to win reliably. But those are the last people FanDuel or DraftKings want. In fact, if the budget bill puts these people out of business, might actually be a good thing for the online sports books. The truth is most gamblers on these sports betting platforms lose money. There's a reason why this is a great business to be in and anyone with substantial losses really won't be impacted anyway. Of course, there's another reason why Wall street doesn't seem to be worried about this change in taxation for gambling winnings. There's a very good chance it might be reversed. On Monday, the Congresswoman who represents Las Vegas Vegas introduced a bill that would restore the 100% deduction for gambling losses. Given this is only only cost $1.1 billion, I could see that bill passing, but honestly, I don't think it matters. DraftKings and Flutter haven't even bothered to push back against the new provision. And historically these companies are very, very vocal about any legislation that hurts their business. I don't think they're shedding any tears over this tax provision that drives away gamblers who win too often. So we reach out to we reached out to both Jeff Kings and Flutter Entertainment for a quite common here DraftKings said they support the new bill to restore the 100% deduction for gambling losses. So far, Flutter hasn't got back to us, but at least DraftKings sounds like they don't like the new rules, even if they're clearly not fighting tooth and nail to reverse. Ultimately, I think this is something we need to watch, but it doesn't change my bullish attitude toward DraftKings and Flutter. The thesis here is very simple. These two companies have emerged as an effective duopoly in online sports betting. No one else can verge it coming in on this one. This law just makes the mode even bigger for them. There's building growth to these stories because of the gradual state by state rollout of legal sports betting, with some major states like California, Texas and Florida representing huge opportunities. Also, because the industry is a lot less competitive than it used to be, DraftKings and flutter no longer need to offer big incentives to draw in new customers, making them more profitable. The gambling tax change is clearly not ideal, but there's a very good chance it won't have much impact on either of these companies, and it could even help them. Here's the bottom line. I still like DraftKings and Flutter. But more important, this is just one tiny example of the work that's being done all across Wall street to figure out the impact of this massive new budget bill. Some of it's straightforward, but like we saw with sports betting, sometimes these new rules might do the opposite of what you'd expect. Let's go to Todd in California. Todd.

[Caller]

Hello Jim.

[Jim Cramer]

Hey Todd, what's up? I have a question about Nike. I have a question about Nike.

[Caller]

I like 76, but I'm curious. You know, I knew that they had a deal with Vietnam, but I'm just.

[Jim Cramer]

Curious whether or not you think it still has more room to go? I think Nike is going to be a long term turn. I think that there was a lot of damage done and a lot of the competitors came in and really like on, on and we know that New Balance got strong and Hoka got strong. So it's going to, there's more competition. It's going to take a little longer than expected. But, but ultimately I think that Elliot Hill is making all the right moves and you will be fine. Let's go to Spencer in Missouri. Spencer.

[Caller]

Hi Jim. How you doing?

[Jim Cramer]

I'm doing well. Spencer, how about you?

[Caller]

I'm good, thanks. My question was about IBM. Over the next few months, what do you think about IBM?

[Jim Cramer]

Oh, I like IBM very much. I mentioned Ben. Right. Just earlier. I think that Ben, he's really turned me on to this stock. We did a very positive piece out. I think it goes, I'm going to say not much higher but creep creepy higher over time and that's actually a great place to be. So I like IBM. I think we need to watch how the budget bill will impact the sports books. But it really doesn't change my bullish view towards DraftKings and flutter since both of these companies have emerged as the leaders of this growing industry. Much more money at honors committed to improving the quality of care for elderly adults. Results across the world. Now I'm sitting down with the CEO to hear how this private company plans to achieve the goal. Then there's. There's been so much major news out of corporate America already this week, but it's been overlooked given all the tariff talk out of the White House. I'm running through the biggest events and telling you how to keep your eyes on the prize in this market. It's not easy. And all your calls rapid Fire. Tonight's edition of the Lightning round. So stay with Kramer. We're always on the lookout for new innovators, which often means searching through privately held companies for outlets with great ideas. Take a company called Honor, a home care technology company that originally built a platform for mom and pop home care agencies to connect caregivers with patients. Although they've expanded from there with the acquisition of a home care provider called home instead and 2021. Basically, they're trying to make it easier for senior citizens to receive the best care in the comfort of their own homes. As my fellow baby boomers get older, this industry's got a lot of room to grow. But don't take it from me. Let's check in with Sternberg. Seth is the Co founder and CEO of Honor to learn more. Mr. Sternberg, welcome to Mad Money.

[Seth Sternberg]

Hey, Jim, thank you for having me. It's great to see you.

[Jim Cramer]

Great to see you. If you don't mind your private company. But I'd like you to just walk in through the evolution of the company, because I think everybody who's had a parent, anybody gets old. I'm also maybe in that, unfortunately in that area, knows that this is a very hard sector because we can't find help. We don't know what to do.

[Seth Sternberg]

Yeah, yeah, it's broken. So, you know, 10 years ago, I got worried about my mother, and we said, how can we help older adults live in their life, live their lives, age in their homes, which is where Everybody wants to. 90% of older adults want to stay at home as they age. And so we founded Honor to help people, you know, help society really care for older adults. And it's a home care company. So we send personal carriers into the homes of older adults and help them with activities of daily living. So that's things like get out of bed, get food, get dressed, really, with that ultimate goal to change the way society cares for older adults.

[Jim Cramer]

All right, so tell me how you can find the agencies or find the people who can do the help, Because I think a lot of us would say, well, that's a good business model, but where are the caregivers?

[Seth Sternberg]

Yeah, that's right. It's super hard. So, you know, if you want amazing caregivers, then you have to create an amazing job. And you have to do what we say is called care for the caregiver, care for the care professional. And so we try to attract these amazing people, and there are lots of them. It's actually the biggest job category in the Bureau of Labor Statistics. It's one of the fastest growing job categories. And then we are the largest network in the United States, in the United Kingdom, in Canada. So home instead or go to market consumer brand, literally the number one in home senior care provider.

[Jim Cramer]

So why did you buy the company yourself? I mean, we like the exchange model. It's kind of asset light, so to speak. I guess people like you call it one, but you decide to get in, and I know you're a profitable company, but get into. Into the toughest part. How's that working?

[Seth Sternberg]

Yeah, so, you know, there's this whole notion that I like artificial intelligence can make these really personal services even more personal and better and more efficient. And more efficient is important because that means we can make it cheaper for people ultimately.

[Caller]

Right.

[Seth Sternberg]

And We've got millions and of older adults in society's aging so quickly. So we bought home instead because we wanted a single go to market brand that was super well known where we could say to people, hey, just come by our service. We can provide you the best care end to end. And, and that is what we do. We felt like we had to control the entire spectrum and the entire kind of process of care delivery to make sure that we had the best care for older adults.

[Jim Cramer]

So tell me how that's gone versus what we know are some stumbles, but never really clear because the companies are so big about what happened CBS and what happened at Walgreens, which seem to really struggle with this kind of business.

[Seth Sternberg]

Yeah. So I think if you want to do, you know, humanity at scale, right, like create this really amazing human service, you've got to create a system that creates deep personalization because it's similar to like a CVS or Walgreens. We sell direct consumers. Right. Like people are choosing to buy home instead in order to care for mom and dad. And so they get to choose who they're working with. They get to choose what their service provider is. And that's important to me from when I founded the company because I wanted people to vote with their feet and they get to say, hey, you're providing amazing care. And like I said, amazing care is actually having that amazing care professional there for them. And then the way we make that care professional amazing is we give them lots of information about the person they're going to be working with. We make sure that their skills are appropriate for the needs of that person. And believe it or not, that's one big AI problem. Like if you want to do that well, you need to be able to control your own really deep technology stack so you can figure out like, you know what, Janet, this care professional, she's going to be amazing for your mom, but maybe not as amazing for my mom. And AI can do that super well. And that's how we've really succeeded.

[Jim Cramer]

Do you think that AI could ever make it so humanoids could be as empathetic as people.

[Seth Sternberg]

So, you know, you take robots, right? And you say, will robots ever be in the homes and caring for people? And I think the answer is actually yes. I think they're going to take some of the workload of caring for older adults in their homes. Things like even folding clothes. Sure. Cooking someday. Yes, too. But there's always going to be that need for people too.

[Jim Cramer]

Right.

[Seth Sternberg]

This is a very, very human personal service. But I really look forward to the day where we can have kind of more devices in the home, including robots and people in the home, and that'll actually reduce the total cost of care. That matters to me. Right. Because we've got this huge segment of the population that needs a lot of help. By 2034, we will have more older adults in America than people under the age of 18. That's nine years away. We need to do everything we can with technology to be able to care for people in their homes as they age.

[Jim Cramer]

Dawad, you're so right. Now, one last thing. I need to notice that obviously we just had this, the big beautiful bill. And we also have. You have a private, largely private pay system. What about the government changes? What will they, how will they impact on.

[Seth Sternberg]

Yeah, so the government changes for us don't have a direct effect. So people do pay private pay for honor. As you mentioned, we're quite large, we grow well and we're profitable. Right. So even irrespective of what happens in the economy, we don't see dips in demand for us. Because when people. People need care for mom or dad, they need care for mom or dad. Right. So we've been very isolated from the economic shocks that we've had over the last decade from different kinds of government policies. And frankly, that was part of the reason why we built the company the way we did. We wanted again, just something that helps people in the thing they need. You know, you've heard vitamin versus painkiller, right? Like build a company that's a painkiller that people really need. And if you're going to try to solve how does society care for its older adults when the older adult population is exploding, we chose to do it in this direct consumer way where we could then really innovate for the future.

[Jim Cramer]

Well, I do have to ask you. I know that was my last question, but how do we find out if you're in our town.

[Seth Sternberg]

You know, home instead. That's the brand you should look up. And we're like in every town. We're in 97 of the top 100 MSAs in the United States. Almost any home in the United States. We can be there with an amazing care, professional help. And you know, the older adult was important to you in your life.

[Jim Cramer]

Well, thank you so much, Seth. This is Seth Sternberg. He's the co founder and CEO of Otter. It's pretty fascinating. Look, I wish you the best of luck. I want this one to work. Okay, awesome.

[Seth Sternberg]

Thanks so much. It was great to see you.

[Jim Cramer]

They have money back in for the break.

[Narrator]

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

[Jim Cramer]

Next. It is time. It's time for the light round. Crazy best Ralph calls with MD Sam, the stock standard. Bye bye bye. Salsa, sir? Don't know the four stock questions that much step. Prison campers will play sound and then the lightning round is over. Are you ready, ski daddy? Time for the light round. Kramer's everybody. Let's go to Mark in New York. Mark.

[Caller]

So, Jim, I recently joined the club.

[Jim Cramer]

And I find that I'm learning a lot from it. Excellent. Thank you. Thank you.

[Caller]

As a club member, I know that you've recommended some pharmaceutical companies based on their developing new drugs, but I don't remember you ever recommending a biotech company.

[Jim Cramer]

So I'm curious as to what you.

[Caller]

Think about biotechs in general and specifically the company incmed.

[Jim Cramer]

Okay. One of the reasons I don't recommend a lot is because they lose so much money. And it's okay as a spec, but I don't put any specs in the charitable trust. None. That one is very speculative. It has lost a huge amount of money. So it's very hard for me to get a handle on it. Let's go to George in Arizona. George.

[Caller]

Big ol Wacky Wednesday. Booyah to you, Jim.

[Jim Cramer]

Thank you. What's going on?

[Caller]

I'd like to get to work on a stock. This San Francisco based company provides high resolution lidar for sensors in automobiles, factories, robots, cars, everything. I think they may have a future. What do you think about this stock? It's Oust Ouster Inc. Yeah.

[Jim Cramer]

You know, it's a lidar cup as you say. And a lot of companies have been losing a fortune. I don't think that there's anything investable in honestly in autonomous other than Tesla. Waymo is not enough of Alphabet. So I'm going to say no. Too speculative. Let's go to John in Michigan. John.

[Caller]

Hey, Jim. I love the show.

[Jim Cramer]

Thank you.

[Caller]

I got a twofer.

[Jim Cramer]

Okay.

[Caller]

I'd like to know your opinion on where silver is going and First Majestic, Silver core.

[Jim Cramer]

Okay. I like silver. First Majestic, not familiar with. The one that I've always recommended is Panama American because it's been problem for a very long time. Pas, that's the one you want to be in. Let's go to Michael in Tennessee, please. Michael.

[Caller]

Jim. How you doing?

[Jim Cramer]

I'm doing well. How about you? Good.

[Caller]

I've been following a stock that took a big hit in February. Been slowly recovering since then pays off 5 and a third percent interest and it's got a PE of about 14. So I'm wondering if this is the stock to go with or there's a better one in the sector. The stock is fmc, Philadelphia's own.

[Jim Cramer]

Okay. FMC is a really interesting story because tonight the president put a 50% tariff on Brazil. Brazil is that agricultural competitors to our FMC is an agricultural fungus side. They do a lot of different stuff to be able to make it so the harvest comes out. And I'd like to know before I opine on it what that 50% tariff will mean for their business. So this is a work in progress. I wish I knew, but I don't want to cuff it after what happened tonight, which was very dramatic. Let's go to Curtin, Illinois. Kurt. Booyah. Jimmy C. Booyah. Right back.

[Caller]

Yeah. Fly Eagle, Florida fly. We're going for that repeat, right?

[Jim Cramer]

In two months, why? Not hard to get, but we'll try a quick statement.

[Caller]

I just think these young people are going to push this a market higher like a tsunami.

[Jim Cramer]

Whether.

[Caller]

Whether despite what the economy is doing.

[Jim Cramer]

And I'm sorry, which is the stock?

[Caller]

No, I tip is AI.

[Jim Cramer]

Oh, tapas AI. Okay. Another company's just losing money hand over fist. I. I just can't go there. You know when to it comes comes to AI. You know what I believe and I believe in Nvidia and that. Ladies and gentlemen, conclusion of the Lightning round.

[Narrator]

The Lightning round is sponsored by Charles Schwab. Coming up with the constant stream of news out of Washington. Our investors overlooking some major corporate stories. Kramer's highlighting the biggest news you may have missed this week.

[Jim Cramer]

Week next. In this business, distractions never stop cost you money. And lately we've had a lot of distractions. We're all mesmerized by the rapid stories coming out of the White House special about tariffs. It's a veritable blizzard of events that captivate us because they seem so outrageous. Huge tariffs in laos, now Brazil. 50% duty award. Copper. What did copper ever do? Deserve that. It's endless. And it's always a surprise, frequently a nasty one for whoever earns the enmity of the President. United States. It's causing many investors to make a huge mistake. There are major corporate events that are being completely ignored. Class example of Big Wednesday shake up the other day. We came in yesterday and we saw that CEO Kirk Tanner is leaving his job at Wendy's, headed to Hershey. The news broke at the same time that Trump was unleashing his Next volley of tax Tanner leaving Wendy's One of most the most significant moves I've seen lately in corporate America, yet people didn't even bother to look at it. Big mistake. First it called the light how troubled Wendy's might be. We know that they cut the dividend not that long ago. 44% slice $0.25 down to $0.14. Lots of people been buying the stock because of its large dividend. Now with Tanner out, all of a sudden we have a company with almost $2.8 billion in debt and only $2.2 billion in market capitalization in the uber competitive fast food market. We have to wonder what the heck is going on. But I'll tell you, it's not very comforting if you really want to overlook this. The other side of the story Hershey down big yesterday and today I get it. They're losing the steady hand of CEO Michel Buck and getting Tanner, who spent about a year and a half at Wendy's, where he departed. Even though Tanner originally had a consumer package goods background, he'd been in PepsiCo for 32 years. For Wendy's, it's always raises eyebrows when the CEO flees a struggling company to work somewhere else in a hurry. Plus, Tanner was the guy who brought dynamic pricing, where they jack up prices in periods of high demand to fast food. Well, that didn't go down well. The other reason Hershey's getting hit. If you were hoping for a takeover here, hiring this new CEO seems to take that off the table. It was a clarion call to sell. And if you didn't get out when it was announced because you were busy paying only attention, the president, you may have caught a 14%, a 14 point decline. And you want to avoid a 14 decline all the time. That's hazardous. Let me give you another one many miss Boeing just announced some huge second quarter deliveries. And deliveries are the chief determinant of its stock price. The company delivered 150 planes, up from 92 a year ago. Fantastic. They booked 4 in 27 orders, up from 241 in just the previous quarter. If you paid attention, I bet that most didn't, you could have caught a 14 point move that was there for the taking. But who was thinking about Boeing? I think the stock's going much higher by the way. Or best of all, you may have missed our interview with Michael Entrader from the Core Weave on Monday who told us that his partner in video is experiencing incredible strength. It seemed like no one was focused on the interview on a day when an angry president was in trash talk mode again. Yet I think the core we've interview would have gotten you into in video, even if just for a trade ahead of this latest breakout. Look, the President's real important, I get that. But remember what we do. We try to find ideas that can make us money in the stock market. A copper tariff, a duty on Japanese cars, a warning of many more to come come, including a 50% tariff on Brazilian goods announced this very evening. I say keep your eyes on the prize. Too many opportunities are being obscured by the sound and fury in Washington. Look out. It might just be signifying nothing. I like to say there's always bull market somewhere in a promise to find it just for you right here. Maybe money. I'm Jim Cramer. See you tomorrow.

[David Faber]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of cnbc, NBC Universal, 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 trading@schwab is now.

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