>> karen >> yeah, ulta on the heels of it being down a lot, and target, and elf. >> steve >> the w in my wage trade is westrock, which is the -- another paper trade. i like mine, i think there's a better upside potential. >> all right, thank you for watching "fast money." see you back here tomorrow at 5:00 formore "fast." "mad money" with jim cramer starts right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you a little money my job is not just to entertain but engt, put things in perspective. call me 1-800-743-cnbc tweet me @jimcramer. look, i know it was a horrendous day today. we're going to get to that but it sure was a heck of a day

for nvidia long my favorite stock one i always say to own, don't trade. yet i keep hearing about how to trade nvidia should you go long or short? the greatest avl intelligence play of our time one that's already changing the world with its borderline miraculous semiconductors. should we declare victory, sell the darn thingup here? maybe buy some more. and then it hit me why don't i just tell a dad joke so here goes [ rimshot yeah that is why my sister's name's rose because your mother loves roses. thanks, dad. no problem nvidia ♪ hallelujah ♪ plunging 606 points. nasdaq tumbling. nasdaq losing .39 prs. we have to recognize there was one stock of one truly great company that frankly has nothing to do with the dow or the nasdaq

or the fed for that matter that stock is nvidia it is quite simply much bigger than a semiconductor company much bigger than a can p, much bigger than the platform i owned my late rescue dog after because i didn't think enough people owned the stock. who is nvidia, what is she to misquote shakespeare it's a myth logical warrior. it's the loom. it's the steam engine. it's the wind tail combination all wrapped up with an iphone in a 2001 space odyssey bow so when nfd y. reported last night and showed you how strong the quarter was the stock flew up more than 9% today. i think it would have been up even more on a better day. peaked at 1063 before the market really rolled over but regardless was able to win when everything else was losing. i'll take any stock that rallies 88 points on a day filled with heavy losses a couple of things before we get to the legend of silicon valley. we got a read on the surface economy this morning, it was just way too hot which then sent interest rates higher and therefore yes indeed as always crushed the stock

market that makes sense there are a lot of people who own stocks now because they're expecting rate cuts and ain't getting them right? okay they need that but their chimerical other we're not going to get it until we have layoffs. job losses determine whether the brown shoots i've been watching turn into a genuine slowdown without them listen to me, it's hard to imagine the fed cutting rates which makes it hard for these people to own stocks anyone betting on rate cuts will easily be spooked like they were today. and that's been a constant every time rates go higher second, after opening strong almost all the techs including semiconductors got clobbered even as initially most semiconductor stocks had roared in sympathy with nvidia. i say call it pin action it ultimately failed

nvidia seemed to be the only stock that went up save a couple of bargain basement retailers which is simply not sustainable. weave been up for a long time. we were due for a setback. but it made nvidia's star shine that much brighter now let's talk about the zeitgeist of nvidia. this is a company run by jensen huang. he's a man i call da vinci because he's a visionary, a true modern-day renaissance man he's created a series of semiconductors that can be trained and then can take a data set and infer pretty much everything that needs to be known. i like simple examples of the power of ai. say you don't speak english well you want to go to mcdonald's and use the drive-thru window. but you fear you'll screw up the order, they'll screw up the order. orders get screwed up all the time there's a lot of fear. but if the person on the other end of the speaker is not a person, if it's an nvidia-powered robot that's sympathetic, can speak 27 languages and never make a mistake, then you'll have the fastest and best experience there is with 40 million legal immigrants in america alone i've got to tell you that's a good business. whoever rolls that out

nationally first wins. or maybe you want to build the single best full self-driving car in the world, one that can't make a mistake, that's so flawless, so safe that the regulators would be nuts to reject it. that self-driving car will be built with nvidia chips. because they're the only ones that have enough horsepower. which of course is why elon musk has been buying them like crazy for tesla and why, by the way, jensen said this will be the big story of 2024. the fact that nvidia can do all these things, it has a platform that can be trained, educated and draw inferences and answer questions like no other, means there's no end to the demand that it's simply boater than everyone else's product. but here's where it gets a little tricky. in the stock business it often pays to be skeptical we've seen all too many geniuses, all too many stocks that can could no wrong, all too many products that sounded too good to be true. we've been had too many times. so what it's developed is an instinctive belief that if everything works and the orders won't stop then something will eventually go wrong. maybe it's an unknown competitor could simply be the stock's

priced so expensively you can't own it, you have to trade it i've heard them all. but this reflexive skepticism has not served you well with nvidia this company routinely exceeds all expectations by staggering amounts and while the stock might look expensive based on forward earnings it always turns out to be much cheaper in retrospect as the actual numbers trounce the estimates. when you look back, do you know that nvidia's truly never been expensive during its whole run to its current $2.5 trillion market cap which brings me to the joke at the top of the show. nvidia's become a fascination. the kind of stuff of alchemy many of the people who own it have no idea what it does. they may have bought it because i named my mutt nvidia they may have bought it because jensen huang dresses in cool motorcycle jackets for the most part when you're dealing with a business that's a business to business operation like this one it's hard to get your head around what they really do and how the product works. maybe the buyers just like the quirky name. maybe they like the stock that keeps winning. but if people don't take time to learn what nvidia really does,

how it has the ai field almost to itself, how everything it makes is in short supply, how it sold $26 billion in product this quarter, which is over a billion more than anyone expected a few days ago, probably 20 billion more than anyone expected a couple of years ago, if people took the time to learn the company and it's all there, they wouldn't trade it. they wouldn't own etfs that encourage the whamma jamma buying and selling they would just prosper like my charitable trust does with the investing club's own/don't trade mantra if you're going to own this stock you must take the time to learn. you see that's really the secret if you did you'd know the customers said to be deserting nvidia aren't deserting. they're desperate for the product. the stories you read about weaknesses in the marketplace are the ones that seem to be planted against them this is the stuff i see with apple. apple's another stock i've always told you is one you should own, not trade. so what do you do with nvidia now? i think you get another chance to buy it. but if you just want to trade it don't bother, please this is a company dedicated to the proposition that there's a new industrial revolution and it runs on nvidia and it shouldn't

be traded. the bottom line, until the ai revolution runs on something else and despite what you hear nobody else comes close to these chips, you should just own it. do not trade it. maybe you need to pretend nvidia's man's best friend hey, maybe you just treat the stock like your son. whatever it takes. just don't sell on a moment's notice in fact, don't sell at all unless you need to do? profit taking to even out your portfolio because it's just become too large that's right nvidia's position's too large is something that rarely happens to any company that you do have to take some profits. let's go to rebecca in new york. rebecca. >> caller: hi, rebecca >> oh, hi, rebecca hi, jim. >> caller: mr. cramer. >> it's a real show. people make mistakes i've made a half dozen mistakes. what's going on? >> caller: right okay so my grandson arieh would like to ask you a question. >> put him on the phone.

>> caller: hi, mr. cramer. could you have a segment on the show to explain common stocks terminology for young viewers? >> what was that stock there rebecca, what was the stock the young fella just talked about? >> caller: should he repeat himself? >> is it gap >> caller: gap, yes. >> oh, he's so smart, rebecca. gap is one of the stocks that bucked the onslaught today that's a really, really good sign it does report next week i think it's going to be an excellent quarter. so i say own it and maybe buy some more if it goes down again tomorrow and thank you for the kind words. until the ai revolution starts running on something other than nvidia's chips you should just stick to owning the name, not trading it on "mad money" tonight elf still a beauty player to blush over i've got the ceo after the earnings sent the stocks soaring today. then shares of charles schwab recently jumped to a 52-week high this week before losing

some of its gains yesterday. i'm seeing if there's a long-term growth to bank on with the company's top brass. and later where do we stand in our fight against avian flu that's wreaking havoc on the poultry industry i sit down with the ceo of animal health company zooetis. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on x have a question? tweet cramer hashtag madmentions. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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the averages in fact, cramer fave e.l.f. beauty the affordable cosmetics maker did even better. rallied 19%. last night-level-level blew away the numbers delivering a 20 cent earnings beat off a 33-cent basis. incredibly the stock first sold offa as it typically does. e.l.f. gave very conservative guidance for the full year but by the time we got in this morning the market had already come to its senses realizing the results were too good to ignore. i'm not sweating the cautious guidance because i've been following this company for ages and it's giving you insane gains if you believed in the story but don't take it from me. let's dig deeper with tarang amin he's the chairman and ceo of e.l.f. to learn more about the quarter. congratulations on just another stunning quarter >> well, thank you thank you so much for having me. >> i've got to get right at something you talked about at the beginning. you talked about a couple of price points i'm just going to say it

650, 950, 20 you have redefined what has happened in the world. when are people going to raelds -- and i think that's one of the reasons your stock has this -- that the world has changed and you've changed how people view the cost and price of cosmetics >> well, that's right. our mission is to make the best of beauty accessible to every eye, lip, face and skin concern. and that's exactly what we're doing. we take inspiration from our community and our investor prestige and we're able to bring products at these incredible prices and people are recognizing that our consumers and our community realize that e.l.f. actually often is better than prestige and you don't have to pay as much as you do for those products >> one of the actual best pieces of research i read every year and we devour is the piper sandler study. the people who -- they actually go after teens they are the most discerning people because they know how to do all sorts of tech things you and i never dreamed of and you came out once again, gen

z, number one. how far in between the rest -- you're like number one well ahead of everybody else. you're just in a category by yourself >> well, that's right. and that latest survey we had a 38% mind share amongst teens the next highest brand was at 8% so multiples above that. but the great news for us is it's not just about the strength we have in gen z we're also the number one brand amongst gen alpha, the number two brand amongst millennials. so we're starting to see multiip generations realize the magic of e.l.f. >> and you are also something the big chains always tell me people run to. it's not just that they have a cosmetics aisle run by ulta. they're actually seeking e.l.f >> that's right. in fact, if you look at our last fiscal year that we just reported, our business was up 80% at ulta, over 70% at target. it is a prime destination. in this quarter we became the second biggest brand nationally.

we passed l'oreal paris to be the number two brand nationally with a 12.8% share but at target our longest-standing customer, we're their number one brand with almost 23% of their category and so we really drive a lot of category growth and retailers really appreciate it for that. >> one of the reasons you do that is you run brilliant campaigns. you currently have what i would call maybe a little cheeky campaign going on. why don't you tell us about that one? >> well, i think you're thinking about our change the board game campaign >> yes, i am >> a big part of our success is the diversity of our team. over 75% of our team are women over 65% gen z and millennial. 45% diverse. we feel having an employee base that represents the community we serve has been a big advantage but it doesn't just stop with our employees. we're also one of only four public boards in the u.s. out of 4,200 that have 2/3 women and 1/3 diverse representation

now, to be honest with you we don't want to be just one of four we think there's a tremendous value in having that level of diversity and inclusion on your board of directors so the campaign we're running right now, i think the latest, we started partnering with billie jean king an equality champion to serve up some facts of what board inequality looks like in the u.s. what you just saw up there, i think the tag line was so many dicks, so few of everyone else we went and basically looked at all 37,000 public board members in the u.s. and we found that there were more people named richard, rick, or dick than there are hispanic board members on public boards or not that far away from black board members, et cetera by the way, our point is there's nothing wrong with being richard, rick or dick, we just want to make room for others and shine a light on it and really encourage other companies to do what we've done because it has been a key part of our success >> i have to tell you, i really enjoyed the irony of where your

posters were downtown, which was the white male bastion of banking in this country. the old morgan building. now, that doesn't mean you're not doing some other things that are a little more conventional you are sponsoring an indy 500 racer. but of course it's a female racer. >> that's right. we feel that women are underserved in sports. so when we found out that in the 108 years of the indy 500 only nine female drivers have ever raced in it we decided to sponsor the only female driver this year, catherine legg, and do an expectation. we're doing i alip oil exchange, shining a light, sponsor her it's something our community responds to in terms of our platform of empowering women and empowering others. >> well, it's sensational. and i'm sure it will draw many eyeballs this weekend. we do have different kinds of cosmetics. i know there's skin care

this is something i don't even remember you being involved. you're now the dominant player >> well, we're one of the fastest growing. the two fastest growing brands in skin care with e.l.f. skin care and nutorium, compatible bioskin care we bought in october. both of them complement each other. we're seeing great success in skin care as well. >> 38% growth. you're right it's incredible. somebody was saying you've got to ask him about the inventory, the inventory balance is really up this is someone who wants the stock down i've got to tell you, i saw your team and i once told your team, who are these moron shorts going against a company that is about democratizing something that costs way too much worry about the inventory number or is it actually what you need right now? >> no, that was actually a conscious choice we just finished a year we're up 77%. our business has been growing really fast for a long time. and so it was a conscious choice to make sure we had inventories

worth demand we're seeing. it also reflects the nutorium acquisition we made and the inventory that came with that. we feel great about inventory. if anything we may not have enough because we can hardly keep our best products in stock. so it's been a real challenge to make sure we have the products our consumers want >> and people who doubt that, you stupid shorts, you are talking about growing unit led if it were really an inventory problem it would be price led. you are doing it the correct way, sir >> well, thank you no, we are the only brand in the top five that is really driving through unit growth and that's been pretty consistent for us for a long time. it's one of the reasons why you see what you see >> and the notion that you will i think be able to do this overseas everywhere, international, obviously is going to be something i think is going to be even more powerful for your price point >> no, that's right. in fact, our international business in the last quarter was up 115%.

primarily for canada and the uk. but what we're finding is because of our strength socially with these younger consumers a lot of that is consumed outside of the u.s when we introduced in du gloss italy a few months ago we quickly became their number one brand. the same thing happened last month when we went to etos in the netherlands we quickly became their number one brand and we're not even done with our rollout. international's only 16% of our business versus 70% of many of our global peers there's i think between confidence in doubling our share in global cosmetics, the opportunity in skin care as well as the incredible white space in international, we're excited about the growth fra tra jejek trajectory -- >> an industry that costs too much is now in reach for everyone and we agree with your campaign. that's why we had to bring it up it is too strong a precept i want to thank tarang amin. chairman and ceo of e.l.f.

beauty another great quarter. and i love you coming on the show thank you. >> thank you >> "mad money's" back after the break. >> announcer: coming up -- millions of americans rank and file have used this company to build their nest egg can the stock do the same for you? find out when we return.

ever since the market bottomed last october charles schwab has given you a magnificent rally surging from the frt high 40s to the high 70s this week. i've been recommending the retail brokerage site the whole way because i thought it was unfairly maligned during last year's mini banking crisis a lot of uninformed people about the stock. it held its inaugural institutional investor day at wall street. and clearly there were some problems in the stock. it fell 4.6%, lost another 3.9%, pulling back to 72 but it was up very big and ran into the meeting. what went wrong? even though schwab reaffirmed some of its previously issued long-term financial targets it showed some incremental negative comments about its near-term outlook including a walkdown of earnings expectations for the current quarter but not the future so what do we do now has it been punished enough with this pullback? do we have to say the easy money's been made? let's go straight to the source with walt bettinger, co-chairman and ceo of the charles schwab corporation. welcome to "mad money. >> thanks, jim, i appreciate the invitation

>> you just finished a huge deal, td ameritrade. it's an incredible heavy lift. got a giant number of people what's next for schwab this was about as tough a deal as i've ever seen close. >> well, it was a complex transaction for sure but i think anyone looking at it objectively would say it was an unparalleled success we converted almost $2 trillion in client assets, 17 million accounts those clients have already brought us $60 billion in new money after they converted over to schwab. and although you can certainly go out when you've converted 17 million clients and find a few who have a complaint the numbers are really small we actually have to report all complaints to our regulators, and we averaged about 55 complaints per 1 million accounts converted >> wow >> with a past as an actuary i should be able to do the math but i'll just say that's a lot of zeros after the decimal point

in terms of complaints we received >> it certainly is just in terms of the stock price it did run up well into the meet ing and there were some people who believed this cash shorting issue had been behind them which is something you've never held on to any false promises. the fact is this problem is a short-term problem, has nothing to do with the long-term future of charles schwab. that's factualexactly right. at the beginning of this year we said we expect earnings in the fourth to be somewhere between 80 and 90 cents. and we actually affirmed yesterday we now expect to be near the top end of that range however, it was going to be volatile during the year on our way to those numbers and in the first quarter we did about 74 cents of earnings that was a 500 basis point improvement in pretax margins over q4. and i think some of the analysts might have gotten a little ahead of themselves in anticipation of us getting into that 80 to

90-cent range. we still feel really good about where we'll be in the fourth quarter and even better about where we'll be in 2025 with sequential improvement in those e.p.s. numbers >> that's what matters to our people you have consistently championed both individual investors, our viewers, and the advisers who serve them we've got some of those too. and i think you've done it because you've got a trusted -- you're a trusted adviser with a great vision but you've also offered great value. now, what i'd like to know is we went from 52% people in the stock market to 62% over the last 11 years. from your vantage point i know you've gotten a huge number of those people coming to you are they investing responsibly, the charles schwab way, or are we seeing too much gamification? >> well, there's probably a mix in there and you're exactly right there's been an influx of new investors. i often say that when the market is going up everyone is a

brilliant trader when the market's going down, it's a lot more difficult. or when it's choppy. i think what we try to do at schwab is provide as much education, tools, ability to speak with a professional who has decades of experience trading. help people who want to trade do it responsibly and do it as effectively as they can. we're not really interested in just pure volume of trades that's not in the best interests of our clients and of course that's never been the schwab way, to try to just drive revenue on the backs of behavior that may not be in our clients' best interest >> all right well, people should know we keep our charitable trust with mr. bettinger and charles schwab and one of the reasons we do that is because you are good to both the big and the little guy my wife, unbeknownst -- someone did not know she was married to me and they kicked her out of their core group of advisers because she -- they said she wasn't rich enough which didn't ring well with me,

frankly. do you kick people out because they're not rich enough? >> no. in fact, one of our guiding principles at schwab among our five is that every client matters no matter how small or how large. and if you go back to chuck's origin 50 years ago, it was all about helping bring investing to the main street of america i know that that has been co-opted or attempted to be co-opted a little bit in recent years. but chuck was the original opening up wall street to main street and that's still a huge part of what we do today of course we serve a lot of investors of all sizes about 70% of our retail assets are with clients that have $1 million or more. but if you look at that on a client basis, the vast, vast majority of our clients are below a couple hundred thousand dollars. >> do people have a mixture of index funds and do some individual investing at the same time >> they do actually, we've called that core and explore for a long time.

and have recommended for most investors setting up a solid portfolio of low-cost generally index funds or low-cost actively managed funds is really the right way to build a portfolio you and i both know that when it comes to investing time is your friend and being in the market is often a lot better strategy than trying to time the market. there are those who are pretty good at it, but it's a minority. and of course those who do it well are incredibly disciplined, very careful they utilize all the risk management tools we make available. those are the folks who generally trade and do it successfully over a longer period of time >> from your perspective i know we hear about this higher for longer, but are people going -- people at your shop, they want inflation tamed because they know the value of the dollar will be eroded what would you say is the zeitgeist of the place we want rates lower because we obviously want to make more money. at the same time you have core

investors who must have inflation slain or else they're going to lose their purchasing power. what do you think is the mood of the account base, if you will? >> well, we just put out today one of our regular studies on client sentiment what happened is inflation has now become the number one concern among investors across, again, 35 million clients that we serve and so when they think about inflation, it has moved their position from the first quarter of being a little bit on the bullish side to where now they're a little bit on the bearish side so inflation is such a big concern for the average individual and the average investor again, this is why it's so important to have a diversified portfolio so that if you have a mix of fixed income and cash and stocks and other investments and you have inflation you do have the opportunity to build income

on that side of your portfolio, the cash and bond side >> that's exactly how we fweel on "mad money" and it's why we're so happy to have you on the show after a terrific run. there were people, by the way, just so you know, who actually counted this company out and that is just ridiculous. i want to thank walt bettinger, co-chairman and ceo of charles schwab, schw, where we have our account for our charitable trust. thank you so much. we really appreciate it. >> jim, thanks for having me on the show and always appreciate the wise counsel you offer to investors and traders. >> you are very kind thank you so much. "mad money's" back after the break. >> announcer: coming up, go fetch. cramer checks in to see if this pet player can hold its own in a dog eat dog market next

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sometimes bad headlines can create incredible buying opportunities. a month and a half ago the "wall street journal" published a story about zoetis, major player in animal health, speculating that their arthritis drug librella, may have played a role in the deaths of several pets. stock tumbled nearly 8% in response investors worried librella's domestic launch would disappointing. but when they reported three weeks ago they delivered a terrific top and bottom line beat the stock has erased its losses from that story, still down nearly 13% for the year. maybe it's worth a buy let's take a closer look with kristin peck, she's the ceo of zoetis, to learn more. welcome back to "mad money." >> it is great to be back. especially after such an outstanding quarter. good to see you. >> lib rellla's a major part of it

>> we are really excited we did $100 million. it's doing a fantastic job for osteoarthritis in dogs and really the difference that it makes, you can watch all the videos of really just the change you've seen in pets. i certainly saw it in my own >> just tiktok videos, people posting things >> look, i think everyone sometimes looks for community. and my heart goes on to anyone whose pet is sick. but the reality is the overwhelming majority of pets and pet owners who have used librela have had an outstanding experience and that's been really awesome and the product is safe and efficacious. it's been used for over three years with 14 million doses used so we stand stand by the product and it's been awesome. >> fantastic you have been my expert for more than a decade now on these different illnesses like the avian flu outbreak i trust you more than anyone where are we >> so i think what we've seen -- you and i talked about it before oftentimes these zoonotic diseases, high path avian influenza which you and i talked

about a little over a year ago in the birds, has now moved into cows as a leader in animal health with a purpose about nurturing the world and humankind, we're obviously partnering with both regulators and our consumers and importantly our customers to make sure we have solutions, both diagnostics and vaccines for it >> so are you feeling confident right now about the situation? >> well, i mean, the way i look at it, i think our regulators are really doing a phenomenal job to be honest with you. they're on top of it they're looking at potential solutions both biosecurity, looking at vaccines, looking at diagnostics, to make sure we can continue to control and address it >> yesterday walmart -- walmart made an announcement with walmart plus that they're going to do telehealth pet medicine. my wise guy friend said what, your dog's going to be on your phone? but this matters and it could matter for your business >> what we're really seeing is lots of new business models around pet health care there's a lot of new pets as you know who are adopted and there's a great need

pet owners today with a human-animal bond want to take better care of their pets and they want to be able to get that pet care where that's convenient so whether that be at walmart or e-commerce or their local vet they're looking at brand new value propositions to make sure all those gen z and millennials who want to treat their pets like family have the ability to do so. >> post the pandemic has there been any sort of let's say decline in the overall growth of having pets at home? >> no, not at all. and if you look at the pet care space and even the spend of pets it continues to grow in the last quarter the spend at the vet clinic grew 4 1/2% the reality is the human-animal bond makes pet health essential. if you asked 86% of americans would not change what they spend on their pet, even if they were facing a 20% decline in their own income pet health is essential. >> we all have -- or dogs and our cats have peculiarities. i've got wolfie, who is just

driven to distraction by ambulance, by any loud noise it kind of wrecks his day, to so to speak you've got something >> we've got a big weekend coming with all the fireworks. >> oh, my god. that will be so horrible >> we do have a product for dogs, cilio and boncat for cats. anxiety in dogs is real. certainly loud noises can cause it if you look at boncat, a lot of pet owners don't bring their cat to the vet we have a product that's really important for osteoarthritis, silensia a lot of people won't use it because their cats are too nervous. products like this are critical. >> the dermatology franchise as great as ever. >> yes we had 25% growth in q1 with app quel everyone wants to make sure they can give them a beef flavored treat and address their dermatological condition it's been a great quarter of derm >> what was the standard of care before apoquel

>> i believe you called it the elizabethan. >> it was medieval ages until your company came along with that great medicine. >> yeah. >> now, we do have -- the first time you have some competition merck's got a drug that sounds like for preventing fleas and ticks. alanco's got their balance sheet fixed a little is it going to get a little tougher out there for zoetis >> well, we saw a big competitor come in q3 of last year and a lot of people were worried we printed a 61% growth in q1. so i think our performance speaks for itself. i think with siperaciatrio, rev, rev plus, we have a billion-dollar franchise derm is a billion-dollar franchise for us and so is parasiteicide. it's a phenomenal product. >> it's been amazing i want people to understand, this is something that walmart gave me, if 75% of the people who have walmart plus have pets,

how big is the number of homes that have pets in this country >> it's immense. and i think really as you look at many millennials and gen z are having pets versus having children and they see these pets as important members of their family and high-income households are having multiple pets and they want to take tremendous care you and i joke, 20 years ago they were in the back yard they moved to the house. they're definitely on your bed some of them have a stroller these days they want to take the best care of these pets, and i think that's really what helps drive companies like zoetis. we have innovation to bring and we're there for those pets >> that's why i was surprised the stock is down double digits. it doesn't make a lost sense to me there's a lot of confusion, post-pandemic people aren't adopting pets. you've got a lot of great new products it's very clear to me that there's no real price competition because the other guys still don't have it going >> science and innovation. if you bring innovative products that change the life of a pet and therefore change the life of that family, pet owners are willing to pay

>> any amount. kristin peck, ceo of zoetis. long a recommendation of ours. even from when it was spun off >> yes >> that's when we first liked it "mad money's" back after the break. >> announcer: when we return, master the markets one stock at a time the "lightning round" is up next - so this is pickleball? - pickle! ah, these guys are intense. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right?

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(traffic noises) (♪♪) the road to opportunity. is often the road overlooked. (♪♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. it is time time for the "lightning round" on cramer's "mad money." name of the stock, buy buy buy, sell sell sell -- play until you hear this sound. and then the "lightning round"

is over. are you ready, skee-daddy? time for the "lightning round" on cramer's "mad money." start with gary in georgia gary >> caller: hey, jim. thanks for taking my call. >> of course >> caller: big fan of the show first off i just wanted to say thank you for helping me become a millionaire. feels really good. >> whoa. thank you, man back at you. >> caller: a few months ago i bought arista network for my mother-in-law gloria got hit today. time to sell or hold >> no, arista had an unbelievable quarter and jay shields is doing a terrific job. all these stocks are volatile but i think you want to own it and buy it into the volatility thank you for the kind words because that makes us feel fantastic here let's go to j.d. in alabama. j.d. >> caller: mr. cramer, how are you doing? >> i'm doing well, j.d how about you? >> caller: doing good. i've been listening to your shows here and i'm now curious about signal lithium core. >> wow too dicey for me as a matter of fact, i've got to tell you i think the lithium group -- i'm looking at al

bemaher, think it played out for now, i don't want to be in that group. let's go to sue in florida sue, you're up hello, sue >> caller: boo-yah >> boo-yah, sue. what's going on? >> caller: this is sue from florida. and i know there's been a lot going on with djt. donald trump media what's your take >> that is a wild one. i don't know it depends on the trial. it depends on the money flows. all i can tell you is that is just one crazy trader. i wish i could give you a better line on it other than to say wow, that is the most volatile stock i have ever come across. let's go to gary in nevada gary >> caller: hello, mr. cramer >> hey, gary >> caller: you have a talent that is superior plus educational and very entertaining are you the one that came up with the sound board >> yes, i did. >> caller: wow from my old radio show

i wanted to be able to -- i wanted people to stop and listen and focus. it's not easy to do a one-man show about business. i'm trying to, you know, make it a little more interesting than it would be otherwise. but thank you for noticing thank you very much. >> caller: well, i think you've done a fantastic job i have 25 years in the motion picture industry and television and i've seen a lot of talent. yours stands out as being one of the best >> wow >> caller: what can you tell me upcoming with lilly? >> okay. we had this group 100x on the other day and they did a study how people feel about lilly very versus wegovy, zepbound versus novo nordisk lilly is so far and away a winner i say you've got toent stock. let's hope it comes in so you can buy more thank you for the kind words let's go to reese in illinois. reese. >> caller: boo-yah, jim. i'm talking about a tech

conglomerate in the entertainment space that never gets talked about. it has glowing revenues in gaming, movies, music and hardware including sensors in the iphone it issued a buyback, dividend increase and a 5 to 1 stock split all while having a p/e of just 14 yet it's stuck in the mud. the stock i'm talking about is sony group stock ticker sony. >> they've got to get out of this, tell me listen, we're not interested in a takeover because i just like the stock as is and it's been weighed down by the takeover talk. and that, ladies and gentlemen, is the conclusion of the "lightning round"! the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. to start a business, you need an idea.

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sometimes the market's so wrong that it just takes your breath away. it can't get its head around the great things some executives do to unlock value. ♪ hallelujah ♪ take last night, the amazing ceo of dupont announced he's splitting the company into three separate companies so wall street will finally start giving these businesses the credit

they're worth. given we own dupont for the charitable trust i was thrilled and also stunned this morning that nobody seemed to care i remember when breen broke up tyco nearly two decades ago and made a fortune for shareholders. i mean, just incredible. it was one of the most celebrated break-ups in history. i remember when he did the same thing in the chemical business merging with the old dupont with dow chemical, then breaking them into three separate businesses the current dupont's a materials component. dupont's got a divergent mix of divisions and it could use the tyco treatment electronics business, 4 billion in sales where they make materials for advanced electronics. they've got a water business with 1.5 billion in sales that's all about water filtration technologies then what we call new dupont, the materials biz. i think breen's right to break this up. the three divisions are worth much more on their own there's no real synergy, divisions don't help each other and wall street would be very, very excited about all three as separate entities. i figured the stock would open at 4%, 5% to roar from there

"squawk on the street" when the market opens and i hear the-story and yet the stock's down a dollar. i was stunned. [ boos ] first you're getting a new dupont that's far less cyclical than the old one health care and devices and packaging. energy storage, electrification. sure evs are down right now but how long will that stay. safety and protection. that's a fantastic business. back in the days when i owned an inn in new jersey we had to spend a lot of money dealing with fire safety regulations nobody ever rolled back i alaw that's meant to protect people from getting hurt. the new dupont could be an acquired sale. but across divisions something breen kept doing during the legendary tyco break-up. there's a lot to like about the two other businesses one, electronics has been down in the dumps because it's heavily tied to the semiconductor industry but after several -- the break-up here is going to take 8 to 24 months and then there might be a term -- we

don't know how long of waiting for the law before anybody can acquire these companies. oh, but in the meantime they can buy others, they can make a ton of money as for water it's all about drinking water p. municipal waste water, industrial waste water desalination and right now i think it's being valued at an incredibly low multiple comps in the industry, veralto any of which would love to acquire dupont's water business. overall we come up with a sum of the parts valuation of $100. and that's conservative for this $79 stock. if you want a more detailed breakdown you should join the cnbc investing club where we did a deep dive on this charitable trust holding. long story short, the market often makes mistakes but ignoring the dupont break-up is one for the books. we've got the most successful break-up artist of our generation with the possible exception of larry culp at g and he's decided to take apart a portfolio of companies that are obviously worth much, much more separate than together what's not to like let's just say you have a chance

to buy dupont much, much lower than it deserves to be perhaps it's been too long since breen worked magic for a cohort of investors or maybe the machines that do so much trading these days made a spelling error who knows? it's your opportunity. i think you should take it i like to say there's always a bull market somewhere and i promise to try to find it for you right here o i am contessa brewer. right now a green light for ether. will a flood of other crypto's follow? an antitrust suit. could it save consumers money? the dc attorney general explains why he is backing the complaint. a fragrant flower. what charles barkley says about his own bosses over the battle for nba rights. the nba itself is