Mad Money w/ Jim Cramer - September 10, 2025

Host: Jim Cramer
Network: CNBC
Episode theme: Celebrating 30 years of Squawk Box, resurgence of individual stock investing, in-depth market commentary, and actionable advice on major stock stories, IPOs, and the power of single-stock rewards.

Episode Overview

Jim Cramer opens this episode with a celebration of CNBC’s "Squawk Box" 30th anniversary, reflecting on its impact on democratizing stock market access. He revisits the enduring debate between individual stock investing versus index funds, highlighting a market climate reminiscent of the 1990s when outsized gains in single stocks captured the public imagination. Cramer delivers his signature blend of storytelling, actionable market analysis, and advice, covering Oracle’s big surge, Klarna’s high-profile IPO, retail stock rankings, an interview with the CEO of Planet Labs, and the ever-popular Lightning Round segment with rapid-fire stock takes.

Key Discussion Points & Insights

1. The Legacy of "Squawk Box" and the Modern Market Climate

[01:55 - 09:34]

• Reflection on the 30th Anniversary of Squawk Box:
  Cramer reminisces about the early days of "Squawk Box," noting its revolutionary role in making real-time Wall Street news accessible to all investors.

  “Squawk was indispensable … it made you have a TV in your hedge fund office because you needed to know what was going on.” (Jim Cramer, [02:40])

• The Return of Individual Stock Rewards:
  Cramer jubilantly recounts Oracle’s 36% leap, positioning it as proof that savvy stock picking can be life-changing, similar to the opportunities seen in the 1990s tech boom.

  “Let’s say you bought 10 shares of Oracle at its lowest close in April … it would now be worth almost $3,300. That’s a 167% return in less than five months.” (Jim Cramer, [04:09])

• Personal Anecdotes from Squawk Box Past:
  Cramer shares his “fiery” TV debut, relentless debates with co-host Marc Haynes, and his mission to educate viewers about the power of individual stock ownership.

  “We would fight and fight, round after round, genuine screaming matches … We were all about trying to make money for you, making the process accessible.” (Jim Cramer, [06:44])

• Single-Stock Risk vs. Single-Stock Reward:
  He challenges the dominant post-dotcom ethos that stocks are “too risky,” advocating a blended approach to wealth creation.

  “We should be talking about single stock reward, because it’s back and people are making fortunes … The need to marry some individual stocks with index funds … can truly change your life.” (Jim Cramer, [08:26])

2. Listener Q&A: AT&T and Duolingo Stock Takes

[09:34 - 11:39]

• AT&T Stock Advice

  • Caller Sarah asks if she should hold a sizable AT&T position inherited earlier in the year.

    “Yes, I want you to hold on it. This fellow Stanky is doing a great job … they are executing at an incredibly high level.” (Jim Cramer, [09:54])

• Duolingo and Competition from Apple

  • Caller Clint considers shorting Duolingo due to new competition from Apple’s live translation feature.

    “No, it’s too good a company to short. I would sell it, because I do like what Apple's come up with.” (Jim Cramer, [10:38])

3. Stock Story: Klarna IPO Deep Dive

[13:29 - 20:48]

• Klarna’s Stunning IPO Performance:
  Klarna, a buy now/pay later (BNPL) company, raised $1.4B in the year’s biggest IPO, opening up 30% before settling higher.

• Market Position and Metrics:

  • Klarna is used by 48% of top merchants in each market and makes money via transaction/service fees (75%), advertising, and some consumer fees.
  • Impressive credit quality: “Klarna’s provision for credit losses represented 0.52% of gross merchandise volume—compare that to commercial banks at nearly 3%.” (Jim Cramer, [14:34])

• Profitability and Growth Trajectory:

  • Rapid gross merchandise volume and revenue growth; profitability is improving though not yet consistent.
  • Transaction margin slipped, but adjusted operating margin turned positive for the first time.

• Cautions on the IPO Structure:

  • “The IPO is mostly about letting early investors and employees ring the register … Klarna honestly doesn’t need the money, though.” (Jim Cramer, [16:18])
  • Klarna’s valuation has swung wildly between $46B and $6.7B over recent years; now stabilizing around $17-20B.

• Valuation Comparison and Conclusion:

  • “I kind of like Klarna at this price … but I prefer Affirm.” (Jim Cramer, [19:46])

4. Retail Winner’s Circle: Off-Price Apparel Stocks

[21:54 - 29:17]

• Bargain-Hunting Drives Retail Wins:
  “Biggest winners in retail lately are the ones that offer the best deals, especially the off-price chains like TJX, Ross, and Burlington.” (Jim Cramer, [21:54])

• Head-to-Head Comparison:

  • TJX: Best same store sales and margin expansion ([22:31])
  • Burlington: Solid growth but more weather sensitive; more cautious outlook ([23:14])
  • Ross Stores: Lower growth but strong traffic and buyback activity ([23:58])

• Valuation and Buyback Analysis:
  TJX trades at a premium for quality, but all three are buyback “aristocrats.”

• Strategic Edge:

  • “TJX has the best merchandise … the treasure hunt experience. Ross is a strong second. Burlington in last for now.” (Jim Cramer, [26:19])

Memorable Quote:

“If you want rock bottom prices, go to Temu … I bought my wife a bathing suit from Temu and she couldn’t tell if it was made out of kindling or toxic waste.” (Jim Cramer, [22:14])

5. More Listener Calls: Tapestry and Chipotle

[29:17 - 30:35]

• Tapestry (Coach Parent): Cramer likes management, but prefers Ralph Lauren.

  “They do tell a terrific story … very proud of the work that [Tapestry CEO] is doing.” (Jim Cramer, [29:36])

• Chipotle: Cramer hesitates due to stubborn beef prices affecting food costs.

  “Until cattle really breaks, I’m going to have to say let’s … keep it on the radar screen.” (Jim Cramer, [30:03])

Exclusive Interview: Will Marshall, CEO of Planet Labs

[32:09 - 37:44]

• Planet Labs Overview:

  • Launched 600+ satellites, images entire planet daily, leverages AI for data analysis.

  “We now apply AI to analyze all the millions of images we get every day … range from commercial customers in agriculture and energy, to governments and defense.” (Will Marshall, [32:24])

• AI in Satellite Imaging:

  • “It’s the scale: 4 million 47-megapixel images every day … too much for a human; AI finds the ships, alerts the navy.” (Will Marshall, [32:59])

• Competitive Moat:

  • Years of historical imagery, cheaper satellites, AI data training; competitors can’t match the archive or cost base.

• Commercial Applications:

  • Drought insurance: “Swiss RE and AXA both use our data to see how much water is in the top soil — called parametric drought insurance.” (Will Marshall, [35:26])

• Profitable Growth:

  “We reported a second quarter of cash flow positive, $45M in cash … backlog up 245% from last year.” (Will Marshall, [37:26])

• Cramer’s Take:

  • “Great speculative, smaller-cap situation with a lot of runway.” (Jim Cramer, [37:44])

Lightning Round Highlights

[38:24 - 41:18]

• Tandem Diabetes (TNDM): Speculative buy, especially for younger investors despite current lack of profits.

  “Let’s go with them and see what happens. Speculative stock for younger people I actually encourage.” (Jim Cramer, [39:07])

• Cintas (CTAS): Buy on weakness; great long-term hold.

  “Not when it’s flying high, but when it’s under the radar. Buy some here, then wait … if the quarter’s disappointing, buy more.” (Jim Cramer, [39:44])

• Phillips 66 (PSX): Now is the right time to buy; likes spread.

  “This is the right time to buy this stock. When oil’s going down, I like to spread. Pull the trigger.” (Jim Cramer, [40:22])

• Intuitive Surgical (ISRG): In bullpen but not ready to buy; disappointed by last quarter.

  “I’m not going to pull the trigger on ISRG … not yet.” (Jim Cramer, [40:48])

• Vertiv Holdings (VRT): In strong position; benefits from data center boom.

  “When you see those data center numbers like we saw from Oracle, that is a check to Vertiv … should be in the fund.” (Jim Cramer, [41:16])

Closing Market Commentary

[41:18 - End]

• Missed Out on Oracle? Consider Premier Consumer Staples:
  “Ever thought of PepsiCo? … building a diversified portfolio of mostly growth stocks as you should, you can do a lot worse than owning a premier growth company like PepsiCo.” (Jim Cramer, [41:18])

• Activist Influence:

  • Cramer spotlights Elliott Management’s $4B stake in PepsiCo pushing for positive change.

• Classic Consumer Names Now Cheap:

  • Cramer highlights attractive 4%+ dividend yields and compares prices to historic norms for:
    • PepsiCo
    • Kimberly-Clark
    • Colgate-Palmolive
    • Procter & Gamble
    • Johnson & Johnson

• Core Message:

  • “When you buy these companies at historically low levels, sometimes you can do spectacularly. And right now I think many of them are simply too cheap to ignore.” (Jim Cramer, [45:09])

Notable Quotes (with Timestamps)

• “Single stock reward … is back, and people are making fortunes … The need to marry some individual stocks with index funds … can truly change your life.”
  — Jim Cramer, [08:26]

• “Let’s say you bought 10 shares of Oracle at its lowest close in April … it would now be worth almost $3,300. That’s a 167% return in less than five months.”
  — Jim Cramer, [04:09]

• “Squawk was indispensable … it made you have a TV in your hedge fund office because you needed to know what was going on.”
  — Jim Cramer, [02:40]

• “If you want rock bottom prices, go to Temu … I bought my wife a bathing suit from Temu and she couldn’t tell if it was made out of kindling or toxic waste.”
  — Jim Cramer, [22:14]

• “We now apply AI to analyze all the millions of images we get every day … range from commercial customers in agriculture and energy, to governments and defense.”
  — Will Marshall, [32:24]

• “We have an archive of imagery going back 8 years … 3,000 images per point on Earth's landmass. That archive is our competitive moat.”
  — Will Marshall, [34:33]

Segment Timestamps Index

| Segment | Timestamps | |------------------------------------------------|--------------------| | Market Kickoff, Squawk Box Anniversary | [01:55 - 09:34] | | Caller Q&A: AT&T, Duolingo | [09:34 - 11:45] | | Klarna IPO Analysis | [13:29 - 20:48] | | Off-Price Retailers Review | [21:54 - 29:17] | | Callers: Tapestry, Chipotle | [29:17 - 30:35] | | Exclusive: Will Marshall, Planet Labs CEO | [32:09 - 37:44] | | Lightning Round (Rapid Stock Feedback) | [38:24 - 41:18] | | Post-Lightning: Defensive Growth Picks, Wrap | [41:18 - 46:07] |

Summary

This episode is classic Cramer: energetic, personal, rooted in market history, yet urgent and actionable. He champions a return to informed single-stock investing, spotlights new opportunities (Oracle, Klarna), diagnoses the consumer’s bargain-hunting psyche, and gives practical stock ideas for both speculative and defensive investors. The exclusive with Planet Labs’ CEO provides fresh tech insight and growth potential beyond the day’s headlines, while the Lightning Round delivers rapid-fire actionable takes.

Core takeaway:

Blend individual stocks with index funds for best results, keep an eye on today’s market leaders and value opportunities, and don’t sleep on companies quietly compounding gains beneath the market’s fast-moving surface.

For actionable stock insights, market context, and high-energy, educational discussion, this episode delivers everything a “Mad Money” fan expects — and more.