about the earnings top line. it's about spinoffs and assets. >> dan. >> mel, your point about who apple might need to partner with for apple intelligence, baidu. >> drill demand is going to be important this week, and marathon petroleum. >> thank you for money." "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. 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 make you some money. my job is not just to entertain, but now educate and teach. call me at 1-800-743-cnbc, or

tweet me. instead the stock languish and investors try to assess what's going on and presume the worst, not the best. that's what i've been thinking, the dow lost 141 points and nasdaq advanced 0.21%. there's so much information and misinformation flying around at this point that it's very easy to be led astray. the most egregious examples of a mission i see in this earnings season that will cause you to make faulty decisions, notice i didn't say anybody's lying. but they're leaving out born information that can cause you to make mistakes and it's you that i care about, not them. first despite the fact that roughly 20 million americans are said to be taking diabetes and weight loss drugs, no food or beverage company is willing to admit they have hurt them at all. they won't even hint at it. we know that people eat much less when they take these gop-1s

and consume less snack food because it tamps down on cravings. do you wake up in the morning and drink alcohol? no. of course not but after work it tasted pretty darned good. natural, right but that's because when it comes to liquor it always feels like it's 7:00 in the morning. why drink it when you know it's not good for you. i prefer grape juice. no cravings. these drugs are incredibly powerful. the idea they aren't doing damage to the snack food companies is insane. yet here's more on buying kellanova. here's brown foreman with horrendous sales but, you know, i don't know if you know -- like tennessee because i've got to tell you their stuff, when you drink jack daniels, it is filled with sugar, okay, and that is really being impacted but they won't say what it is that's hurting them.

they say it's not cannabis. but same thing with diageo, the liquor company, why is casa be migas down 20%? hogwash if you don't compare them. you might have thought they got in a room and said don't not mention glp-1s. do not let it be known. i wonder how long they can maintain this fiction. it would be better if they own that it's a problem rather than ignoring it. the price multiples are shrinking as it is. is anyone fooled? who knows how much they're being hurt unless somehow we've decided that 20 million people eating about half of what they used to and drinking dramatically less doesn't matter to these companies? and the glp-1 users tend to be gigantic consumers. that's what they do. you have the biggest consumers eating much less. come on.

drives me crazy. nobody has to lower prices, everything is fine. very few companies have reduced prices post covid no matter how much they raised them. costco and walmart pushed prices back. no co-incident they've been among the best retailers but airlines, simply won't roll back prices and act as if they didn't even take them up in the first place. hotels and entertainment no different. they raised prices during covid and won't cop to raising prices too much, even as the forecasts are coming down hard. many of the restaurants are asserted that price increases haven't hurt sales or in some cases refuse to admit they need to roll them back. starbucks, for example, gives good deals to reward members but can't seem to get new people to join. i think that's because there's no entry level coffee with a low price to get them in the door. is everyone in the industry obtuse and in denial? no. just like costco and walmart, chipotle arguably the best-run

restaurant chain admitted to raising prices too high in california because of the impact on the bottom line from the statement on wage hurt sales and they acknowledged it. any reason it's the best -- acknowledged best run restaurant chain with the best run stock, they own what's wrong and change it. kennard, we're being told none are paying on nvidia chips with ai have seen any meaningful return but doing it to prevent competitors from getting an edge. that's absurd. memo to the clueless nay-saying individuals, have you seen what meta platforms has been doing? they've become one of the most popular generative ai platforms. i have switched to it. meta has been using nvidia purchases to make instagram reels much faster, cleaner. meta has the best numbers of any of the tech titans. google and amazon aren't buying because they're worried the other guys might do something. they're specifically worried

meta will catch and pass them and they should be. nvidia's has been telling you, you can get four types your money if you buy his chips. four times return. i think meta could end up getting that. the others have to spend to play catch-up. it's not mythical. it's reality. how much money have you made over the years betting against jensen huang? it's a good one that fooled many a people. many a people. intel's fine. better than ever. don't worry about it. i keep hearing that intel is going to make a huge comeback and catching up to the others in the data center and that it's using the c.h.i.p.s. act to further its dominance. dream on. have you seen their balance sheet? can you read one? do you think they suspends what was left of it to assert dominance? [ mooing ] >> this is not the intel of old even though we want it to be. amd isn't nipping at their heels.

they're dominating and takes gobs of market share. despite intel's protestations, i wouldn't want to be intel's partner. not that, again, anyone would ever admit to that whether they're in government or business, whether they're clients or customers. fifth and final, we're told enterprise software is doing better than ever. forget this is the single worst area of the stock market, it is a wasteland people. as companies cut back on their spending on software that's meant to help them run business better, maybe they can't figure it out where ai could makes employees redundant. by the way, no need to tell me i'm doing it right, service now, so many of these enterprise software companies reported so-so or just plain bad numbers. we don't know why, but it would help if anyone in the segment would own up to it. they won't because they're so used to giving blah numbers and can't explain disappointment because they refuse to acknowledge it. bottom line, that is a short list because i don't have all

day of obfuscations, kennards and refusals to recognize the problems businesses are facing. maybe they think if they ignore them they will go away. has that ever worked? denial is a powerful defense mechanism but it is a terrible way to run a business and by the way, kesha was wrong when she said brushing your teeth with a bottle of jack. there is no time that is a good idea. all right. let's go to steve in arizona. steve. >> caller: hey, jim, how are you doing? >> i am doing well. how about you? >> caller: good, just signed up to be a club member last month. >> yes! ♪ hallelujah ♪ >> caller: i consider myself midlevel. there's two things. i just wish some of your callers wouldn't bother spending so much time going over a stock chart endorsing a particular stock. i'm sure that wastes everybody's time. >> everybody is nice who call, i'm thrilled and everyone is very graceful and gracious and so am i so go ahead, steve.

>> caller: yeah, taiwan semi, you know, out here in arizona, $40 billion plant and these guys are just -- i know it's the whole geopolitical thing but, wow, i mean, these guys are -- >> i think you're fine. i think there's always going to be a worry about taiwan. i think that though if you go back to what lisa su said from amd, she didn't tell you not to worry but, look, this one is not going to be a problem and i am with her. to sharon in minnesota. sharon. >> hey, jim, thanks for all your help. i just wanted to ask about elf. it's gone down in price but with the lower guidance do you think now is a good price or would you hold or -- >> i don't usually say this, sharon, but i am -- it's disconcerting to me that ulta hit a low and action in he stay lauder is so horrible they should just say we're just going away. i'm worried about elf because

the competitors aren't flailing so badly. i will give him his due and will come out of it first but this is the single worst neighborhood i have ever seen. >> the house of pain. >> in this market. to jack in california. jack. >> caller: boo-yah, jim. from southern cal -- >> love it. >> caller: i was curious what you think for the future of paramount global doctoring the merger with skydance media. >> it's a fabulous time to sell it. you're still going to get ten bucks, they can't take that away from you, kind of like, was that gershwin? that's the deal. look, maybe all these companies want to believe if they ignore the problems like pricing and glp-1s, it will go away. a new low and red flag or buying opportunity, cliffs notes. one sector that will benefit the fed's environment, you won't want to miss it. not many companies make ice cream machines, but i'm going to

talk to the ceo of sharkninja so stay with kramer. >> announcer: don't miss a second of "mad money." follow jim cramer at send jim an email at madmoney@cnbc.com. or give us a call at ssomhi, 3-cnbc. mi setnghead to madmoney.cnbc.com.

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rates are cut. materials company, right now trading like recession is inevitable and the fed is too clueless to do anything about it. cleveland-cliffs, a focus on value-added sheet products for the auto industry down 45% from its highs in april. just when it looked like it was stabilizing last month and for a solid quarter they started freaking out about the economy and it became the house of pain even though it delivered great numbers and set a new 52-week low. the moment the fed starts cutting rates people will kick themselves for not owning the steels so do not take it from me but lorenzo gonzalez is the chairman, president and ceo of cleveland-lives with a better sense of what's happening. welcome back to "mad money." >> thank you, jim. always a pleasure speaking with you. >> okay, so let's go over this. i know as a former hedge fund manager the stock you want to own when a fed rate is coming is the coiled spring kind of stock, and that would be a company that reported great numbers but people don't like it because of

the cycle. that would be you. could you please explain to people the way the market and the steel market work and how born this is to be able to try to start buying this stock? >> thanks for the opportunity, jim. that's the right question at the right moment. it's a cyclical stock in a cyclical market and cyclicality is a friend not an enemy. at this point we can only go one way and the way is up. the economy continues to be not in shape, off course, the fed will have to start acting on interest rates. all the things that were indicators that would allow them to be pearlized are moving up, so it's about time for things to start to move in the other direction, our business continues to perform. we are taking actions on our side to do our part, so there's only one way to go and it is to

go up. >> now, i searched my -- the entire panoply of what goes in the steel business to try to figure out why the prices keep falling. i come back to maybe a lot of people are using mexico to bring in steel, like they shouldn't because that's just patently illegal. >> well, prices at this point kind of stabilized, stabilized at the low level but they stabilized. prices are no longer going down. as far as mexico, mexico is a big problem. mexico is not a friend. mexico is a dumping ground for shipments. mexico will be taken care of in the next revision of the usmca in july of 2026. we can no longer afford this situation with mexico taking advantage of our free trade agreement with the united states and canada. both countries are being damaged by mexico and this is about time to stop. >> i'm glad you mentioned canada

because i think stellco is an excellent company. if you get that deal done it will make your company a little less cyclicality but tremendous value. but is there a chance that any one of these regulatory agencies can get in the way? i know canada is in favor of it and the workers but i don't trust our governments to favor that. >> well, the deals are approved because the deals make sense and do not cross any lines or do not inflict any damage to born constituents, we have union support in our case. we have support from the promise of ontario and from the federal government in carneda. we are doing a good thing for the country of canada and we are not buying anything that would conflict with the business that we have in the united states. actually slelco is a big player

in the market that cleveland-lives is not strong. we are strong in high end automotive stainless electrical steels, stel. co is in the commodity side of the business so fills a void in our portfolio and we do not have any problems in clearing antitrust or anything like that. >> excellent. >> we'll be done way before the end of the year. >> another deal that i think you're not a big fan of. nippon steel buying letter x. u.s. feel which initially you wanted to buy and reference it and talk about it. mike pompeo has an interesting piece in "the journal" and may be damaged goods. he's obviously at the forefront of trying to get this deal done. do you think he'll have success when current president biden and potential president trump are saying this one is dead in the water? >> look, there are very few things that can unite both

sides. the opposition to that nippon steel deal is one of the very few. neither the harris side nor the trump side would support anything related to the nippon steel deal. that said, mike pompeo being a paid supporter of the deal just signed off not to be part of any possible trump cabinet going forward, so like i said in a conference call, damaged goods. mike pompeo and hundreds of other paid opinionaters that were hired by either u.s. steel or nippon steel is not advancing the ball and the fate of the deal is being decided, good luck to both u.s. steel and nippon steel. i'm focused on sleco right now. >> understood but you have done two deals in one year and are capable of doing many deals if you'd like to if you think they're variableable to

shareholders, i know you will do them but i'd think buying your own stock down here versus buying another company after stelco is a better deal. >> we are the most undervalued of all and we are the ones that are focused on the high end. we are filling the gap by acquiring slelco and playing a bigger role in the commodity side of the business so we're comfortable where we are at. we will continue to build the business. we are going downstream with the production of transformers, we are doing what we do best, we are doing what we have to do in order to continue to generate real value for the shareholders. unfortunately, in a cyclical business that doesn't happen every day and eventually that doesn't happen every quarter. but in the long rung that's where the value is and we will continue to work that way. >> i'm sorry we did not get to talk about weirton and transformers.

that's a fantastic business you're going into and i would have liked to talk more about trade positive. i think what you said about mexico unfortunately is true. they have a new president there. i was kind of hoping things would change. hasn't changed that. that's lourenco goncalves. >> always a pleasure being with you. >> "mad money" is back after the break. >> announcer: coming up, not feeling at home with a pure play housing stock? cramer shares a few alternatives, next.

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call me a wide-eyed optimist but i think we're actually in pretty good shape right now. sure, there are signs of economic deterioration all over the place and probably would have been helpful inthe fed had cut rates at the last meeting but if you're tearing your hair out because we'll likely get a rate cut in september rather than july i think you're missing the big farce. even though the economy has slowed we still have solid growth, 2.8% gdp growth in the second quarter and atlanta fed estimates it will be 2.9% in the current quarter. unemployment rate ticked up but still at 4.8% and used to celebrate that until seven or eight years ago every economist would have told you we're basically at full employment with that number. corporate earnings, well, of the s&p 500 we've already heard from

455 of these companies, on average earnings are up 9% yore after year and inflation looks to be fully defeated the federal reserve can start cutting rates and we're in no man's land. it's time to start betting on the return of housing and repair and remodel market. that's been what's really weighed down on this group and that's heavily fueled by home equity loans and very much hostage to interest rates and that's why the largest owner of timberland, almost 10% it rallied since then even though the s&p is down 5% over the same period. there are many ways to play the housing and r&r thesis. repair and remodel. they're interesting and have had a lot on. builders first source. the nation's largest supplier of building programs, services professional builders who they serve, not you. both for new construction and

remodeling. they have distribution centers all over america and it's been a fragmented industry. plus during the terrific run for home builders, builders first source saw its stock rise from $9, covid lows to just below $215 at its peak this year and pulled back 29% from highs but that's where these stocks have been going. it's in the 150s where the stock looks pretty darned good to me selling for less than 14 times this year's earnings estimates. last tuesday builders first source reported an interesting quarter and matched wall street's revenue estimates, they blew away the estimates from the earnings front making $3.50 per share. looking for $3.02, however, management also took this opportunity to cut full year sales guidance. 1.2 billion at the midpoint of the rank while trimming earnings before amortization guides at

$300 million. that is brutal. while it looks bad they didn't seem downbeat. builders firstsrce repurchased stock and authorized another $1 billion buyback. this company is significant. this company is only an $18 billion company, for heaven's sake. i think there was an appropriate reset but also a demonstration builders firstsource can perform well in a tough environment and huge vote of confidence to the future. if i knew rate cuts are likely in the cards i would authorize huge buybacks too and rallied 4% in what looked like a terrible forecast. i'd still be a buyer because i bet they have a lot of room to run. don't buy all at once. that's why i like ferguson. especially for plumbing and heating, ventilation, air-conditioning systems and the main difference is they serve residential and nonresidential construction markets. fine by me. both residential and n

nonresidential benefit from lower interest rates and had a nice move since they moved from london to the new york stock exchange in the spring of '22 and climbed from $100 at it's lows to a high of $225 and change at the end of july but the stock has been knocked down 30 points or more than 13% from that high in less than two weeks without any companywide specific numbers. no developments. i think you're getting a nice chance to buy a quality stock at a discount before wall street goes crazy once the fed starts cutting rates. who else? there's a reason we own stanley black & decker for the trust. largely had a slowdown in remodel but stanley bla black & decker caught fire after the cpi reading and jumped higher after they reported a strong quarter at the end of july. if they can deliver small revenue beat in a 25 cents earnings basis off an 84-cent basis when times are tough imagine how much they can make

when the fed starts cutting rates. in response the stock jumped 10% in a single session right before the market starting rolls over. since then it's erased all gains and then some and getting that excellent quarter for free. if you believe that lower rates are coming then stanley bl black & decker is another really great opportunity. i will be discussing stanley black & decker at our cnbc investing club meeting wednesday noon so join us. we sold some higher. trying to figure out whether to buy it back. i will ahe talk go that. there's one name that could fit the theme but i'm holding off recommending it, that's home depot. i'm hesitant because of the reports from the morning. soft numbers for the recorded quarter, three-month period that ended with july, that said the reports could still be a positive catalyst if management paints a positive enough picture as rates start heading higher. either way i'm not going to stick my neck out. let's wait 12 hours. if you like me think we're not headed for a recession, taking it off the table the fed will

soon start cutting rates from a position of strength then you should look for groups that benefit from lower rates in a relative solid economy like home building, remodeling plays like weyerhaeuser, builders firstsource and home depot pending on what they have to say when it reports at 6:00 a.m. matt in pennsylvania, please. >> caller: hey, jim, how are we doing. go, birds. >> oh, yeah, we're heading to new england right now. what's up. >> caller: absolutely. jim, i recently built a retirement portfolio dividend stocks that include procter & gamble and colgate and recently i picked up shares of realty income that pays a monthly dividend. with the steady increase in price per share what advice could you give me. >> i like really income. i know there's concern that some of the companies that are inhabitants that ones they use like the drugstore companies could be in trouble but i think

you're right, the monthly dividend is terrific and it's been a rocket ship and will stay strong, yields 5.23% and thank you for the call. if you're an optimist like i am and think the fed will cut rates before we get to a recession, look at the home building and remodeling play that benefits from lower rates and a 108d economy and gave you good names. much more "mad money" including my discussion with shark ninja. could a company like sharkninja pull ahead with high quality low cost items? i'm finding out more with the ceo and they have a lot of cool stuff in the stores. the major 1,000-point drop in the dow, i will share my thesis after being on the street for more than 40 years, and all your call, rapid-fire in tonight's "the lightning round" so stay with cramer.

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[ applause ] i can barely believe the run in the shares of sharkninja which makes shark brand cleaning products and ninja brand kitchen appliances among many other things. this stock has more than doubled including a monster 17% jump after they reported a beat and raise. they gave an excellent full year forecast talking about 20% to 2% sales growth and detailed how it will happen. so we got to find out how they've been able to pull it off and take a closer look with mark bar barrocas. welcome back to "mad money." >> thanks so much for having me back. >> of course, now, there's a great moment in your conference

call, most people are not as illuminating as you are in a conference call where people ask why are you so good. you say it starts with identifying a known or unknown consumer problem and trying to solve that problem. talk to our viewers about how you do that in some of your verticals because it's quite exciting. >> sdwrim, we do that in so many different ways. we're in hundreds of consumer homes every year. we're scrubbing social media. we're scrubbing online reviews, we're in restaurants and commercial environments. we're in offices watching how people clean, and we're looking for that consumer problem nugget to try to come up with some way to solve and i think we've done that across 34 different product categories over the course of the last 16 years, and some of the really exciting products we've done that with recently have been our ninja frost fault coolers where we identified this problem of the soggy sandwich or just recently did this with a

new product that we launched called the ninja slushie bringing convenience store slushies to your countertop and have been able to do it across big definable markets and markets that are larger and we've enlarged the size of the market but that's the drive and passion of the business. >> let's dig down to the slushie. 1 100,000 wait list. how come i have to go to the movie theater to get it? how did you figure it out and how did you get the people willing to comply who were involved with this? >> well, look, jim, i think it goes back tolet's start with the ninja creamie that has over a billion views on tiktok and instagram and have been a real success. we identified this love that consumers would have for making ice cream at home and always looking at ways the consumer is enjoying or doing something outside of the home that they're not able to do inside of the

home, and the example that you just gave is the perfect one. they might go to a fast food restaurant but something they can't do within the home and another great example the ninja cafe lux that we launched. being able to make espresso and coffee and cold brew and so many different coffee drinks on their countertop, again, something they were doing outside of the home in a place like starbucks but now are able to do it inside the home. >> all right, mark, let's dig down on that one too. the fact is i bought it yesterday at best buy because i wanted the espresso martini and i'm tired of paying $1,100 for a competitor that you and i both know that's a good machine with a lot of good stuff in the mall, how are you able to come in $500 less than a competitor that we know? >> well, look, you know, one of the things we're looking at is how do we enlarge the size of the markets we participate in so

in the example you gave, the market for espresso machines in the united states is less than 1% household penetration. but it's something that consumers want to do but think told us that, one, they're too expensive and, two, they don't give enough versatility to the consumer. so we looked at that market and we said, let's not just offer espresso, let's offer drip coffee, let's offer it in a 16-ounce travel mug size. let's offer cold brew, ice coffee, coldpresso. let's not froth the milk but nondairy milk as well as dairy milk or froth cold as well as hot and put all those things together and look at all the features the consumer will be willing to pay for and we came away with the fact that consumers through our testing was 499 was the right price for that product. you might think, wow, 499 is expensive but as you said these products can cost over a thousand dollars and so with what we're offering from a

versatility standpoint and a value standpoint, the product is doing great right now as you pointed out in best buy, amazon and also in our direct to consumer sites. >> you have a terrific group of engineers. i know you're still adding a large number of engineers so you're handling that side well. with an election coming where there are some people, presidential candidate that doesn't like china, the other isn't fond of it either are you ready to move the rest of your supply chain out if it turns out you have costs that the espresso suddenly costs $1,000 because of tariffs? >> well, regardless of who wins the election this november, we have been working for the last five years to diversify our supply chain outside of china. today we make all of our 301 tariff products outside of china, and by the end of 2025, we will be making all of our u.s. products outside of china, so, again, regardless of who wins, we think we're really well

positioned to avoid any of the geopolitical challenges that may exist. >> where is that vietnam, malaysia? i know you're doing some in vietnam. i like to know who our friends are. where else do we get it done overseas that like us? >> yeah, so it's really awe throughout southeast asia. vietnam, thailand, malaysia. indonesia. we're looking at mexico. we're looking at doing some moving in places like brazil, so we've really kind of opened up, you know, the global market to figure out where is really the right place for us to get the quality that we need, the fast turn time and extraordinary value we deliver to consumers? >> well, whether it be on social media or knowing how people buy things and where they buy them or where to build them, sharkninja, you guys are very impressive. want to thank you, mark barrocas. thanks for coming on. really exciting? >> thanks so much, jim. "mad money" is back after the break.

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ai transforms your entire business. your people work better, your customers are happier, and todd... well... he's practically euphoric. practically. because when your people work better, everything works better. so what are you waiting for? let's get to work. idris elba works here? mm-hmm. ya, he's super nice. >> announcer: "lightning round" sponsored by charles schwab. trade brilliantly. it is time. time for "the lightning round." until you hear this sound -- [ buzzer ] >> then "the lightning round" is over. tim from wisconsin. tim. >> caller: hey, jim, i wanted to get your opinion on aflac. buy, sell -- >> you know, it's not my fave.

i do like chubb and the insurance business but that's about it. to joann in california. joann. >> caller: hi there. >> hey, joann. >> caller: i need your help with my hope many work assignment i have. 12 girls in finance. >> i like that club. i like that club. >> caller: anyway, we're trying to diversify and have nothing in the health care sector and came upon -- we'd like to find a smaller midcap but they're hard to find so came across. levance. >> i'm suggesting even though anthem was okay. united health is still the cream of the crop. i couldn't believe how they've been able to accomplish so much during this period that nobody else has. matthew in texas. >> caller: yes, sir, jim. thank you very much for taking my call. >> absolutely. what's up? >> caller: i have been looking

for a good lithium miner for quite a while and i've had my eye on alb. >> it's a good -- a business we don't want to be in. this is just an ev -- evs are not ready yet. not enough charging stations. a lot of other issues so we'll steer clear. gary in texas. >> caller: thank you for taking pie call. >> you're quite welcome. >> caller: i'm 74 years old. i'm always concerned about my vision and my eye health. i follow a lot of small companies that make eye products but one in particular i follow seems to have an outstanding management team that always delivers on its promises with consistent growth. it just had a fantastic quarterly letter and stockholder earnings. what is your opinion of hrow? >> i don't know them. i don't know them. harrow. i'll have to come back on that one and talk to my chief

scientist, ben, and we'll come back with that. let's go to noah in south carolina. noah. >> caller: hello, my name is noah jacobs. i'm a rising senior at brigham young university and beginning investor. >> yes. >> caller: after the maui wildfires shares of hawaiian electric plummeted from $40 to 13 and have been hovering there the past year. your thoughts? >> man, i'll tell you this was a conundrum. they had bad stuff to say about their concern -- about their ability to continue which is, of course, is not a problem but need a seasoned person. they need a person to come in because they do -- honestly i'm not sure they know how to handle the situation. i really am not sure. let's go to tyler in california. please, tyler. >> caller: hey, big boo-yah from california. how are you doing, jim? >> i'm doing well. how about you. >> caller: i'm doing good. thank you. with snapchat being done 15% in the past month is now a good buying opportunity? >> no, they could use patty poppy too frankly.

i think snap is not investable. when i went to com school i have to tell you they seem like an irrelevant company. i know that's a tough judgment but that's what i'm paid to do. jeremy in california. >> caller: hey, jimmy choo. >> yo, man, what's up. >> caller: doing good, man. i bought into this company 40, $50 a share and loving the ride the last four years and recently chip's funding what do i do with amat. earnings blooming next week. >> the company is doing well and i think the government is not crazy about their pasture because they do so much business in china. that's a shame. to criticize a company or to be skeptical of a company that, frankly, has done a great job dogs rankle me but that's a buy. to anthony in north carolina. anthony. >> caller: mr. cramer, boogie board. >> yes, boog boo-yah.

>> caller: i got a large position in a monthly paying dividend stock. what's your opinion. main street capital. >> i havenever charged a business development company. i don't care. i don't know what they own and i won't recommend them and steered clear of them and helped a lot people doing so. jerry in illinois. jerry. >> caller: hey, jim. i need your help. >> yeah, sure. in the right place. >> caller: this thursday alibaba reports. do you think they can finally start turning things around? >> here's my problem with this. it is incredibly cheap. they will report a great number then there's going to be something people don't like then they sell it down. i'll tell you it is a cheap stock and that is, ladies and gentlemen, the conclusion of "the lightning round." >> announcer: "the lightning round" is sponsored by charles schwab. coming up, making sense of a sell-off? cramer wades through last week's manic monday for answers next.

♪ what did happen when the market fell apart a week ago? why is it so opaque? nobody is required to talk about how they blew it and lost a lot of money and caused your portfolio to get hammered as collateral damage and that's how we ended up with this. when you get a sell-off you try to figure out what's really at stake. what's gone wrong, you go back one week ago when the japanese market fell apart. we saw most of our big cap

stocks fall apart with it and witnessed the collapse of the small cap trade and sudden decline in the financials, it's always hinteresting to watch it unfold. we saw a decline in yields so journalists after speaking to their sources claimed that our economy is headed for a hard landing. that was false. the big buyers were related to the japanese meltdown. nothing more. the huge tech sell-off. ai deprofrocked at last. the rumor that nvidia's new high-end chips were running late, we decided the company was set back because of the layness and that lingers but here comes nvidia jumping 4% on very positive ubs piece. there's nothing new at all here and even if there were, the company's current iterations of high-end chips can fill in the gap. i expect the stock to get hit again tomorrow.

many know little about the company. they tell you they love it but it was a huge buy a week and ten points ago. the banks, we tried to blame it on commercial real estate woes. given tons have come back to work five days a week making the office buildings valuable again. but, yes, there are plenty of outdated buildings for sale but looks like woes are manageable. the bank stocks are still down. i think they represent a real value there. there's a big issue. turns out small cap trade was hard to unwind without pressuring the stocks because no one actually bought the stocks. they bought the etfs and buyers were inundated and walked away when sellers came out of the woodwork. the buyers will nibble but know it's easier to get out of the small caps than it is to get out. easy to get in than get out and a lot of stuff is not done. that is still unwinding. back to the japan program. we keep hearing there was a great unwind of the yen carry trade. the reality a bunch of money

managers took advantage of how to borrow against japanese bonds and then had relatively free money you could put to work in stocks around the globe including here. the manager who did this trade and it was many different firms didn't anticipate the long dormant bank of japan would wake up and put through two rapid-fire rate hikes. they own a lot of stocks around the world and had to sell because they were playing with cheap money that suddenly became a lot more expensive. no more, no less. if we had known who these ill-advised magazines were and how big their positions were that would have been the story as opposed to all the bogus pin the tail on the sell-off headlines we got last week. that doesn't happen. these clients' names were protected but if their story had been written everyone would have had a different attitude. large institutions that forced journalistic commentators to come up with bogus alibis. their analysis could be avoided if we knew the identities of the ne'er-do-well funds.

their leverage, their destruction, we can't do that, though and can't find out the names. last monday's sell-off and consider it might have been about nothing mar than flailing money managers which is often the case with these big market meltdowns. i like to say there's always a bull market somewhere. i promise to try to find it for you just here on "mad money." i'm jim cramer. see you tomorrow. se sharks. se if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪♪ oh, my god, i can't believe we're doing this. walk in the park. this is crazy. high five. narrator: first into the tank is a business hoping to make life with a new little one easier. [ dramatic music plays ]