for the crypto stuff, i'd actually look at pay pal, play that instead. >> world cup just on fire. you know what else is, apache, major double bottom in apa 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 some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. and don't be gloomy. you see, every day the sense of gloom seems to grow more

palpable including today. nasdaq inches up one policely point. at one point we were down dramatically and it seemed like the whole world was hitting the exits at once i don't want to dismiss the worries about tariffs or rising rates. but at some point we need to remember that we have a blazing hot economy here and yet the negativity is so pervasive and so down right, it's all encompassing that if i were one of these firms that would gin up a etfs, it would be gloom. it would trade under the term glum bulls who are for the moment chicken, just blow it out.

those of us with more composure might end up buying it or shorting the glum index. but i have to tell you, it's out of control, people what would i put in this glum index? let's start with caterpillar people sell caterpillar every time they feel down beat it is a cyclical company wrecked world trade with this tariff and this is the end, it is the end my friend, the end thank you gjim morrison the sky is falling, woe is me. i like this company caterpillar a lot. you can't go wrong making cat the biggest position in the glum etf. next, well, you know what next

is, you hear about it every day at 9:35 when we are too negativity, it is boeing this is another one that gets dinged whenever investors get sad. as investors fret that president trump has single-handedly wrecked the world economy. repeat after me, wrecked the world economy. it doesn't matter management traces out the sky high demands. how how many times i point out china needs boeing third, many investors are repulsed down right repulsed by 3m here they think it is a bunch of jokels in a time of trump spurring tsunami selling

3m has become a total pride here the 3m personifies the doom and gloom etf. it is a tariff pinata. same goes for this, was this sound added for this name, general electric total mess across the board. the power business is horrendous and when they layoff workers it is a sign of the lack of capital coming from ge capital, the health care unit that was stupidly spurned. these are all nightmares that make it a perfect fit for our gloom index. just wait until cuts to dividends which is inevitable.

if you believe from jim from jpmorgan, it has to happen, the leading gloomster. maybe it already has happened. don't expect anyone to care as long as gloom reign supreme. that company can do no right fifth, j & j fallen victim to the negative nancys the dollar is strong no one cares it has eight big new drugs coming out or an amazingly steady company with aaa balance sheet. it is awful, it is glum. forget that one. six, citigroup it gives me a headache nothing seems to work even when it should. this stock should go down.

never mind that citi's prospect remains strong yeah, people believe that. you can't make this stuff up citi is now gone from being a good company to a pathetic one i swear to you nothing has changed. goldman sachs, might as well be the gloom master a kiss of death. a basket of sadness. i mean, everything it does is regarded as wraong, right goldman is deeply involved in the zeitgeist of doom and gloom. you would never guess the huge investment bank is actually doing well, but that doesn't fit. that doesn't work with the etf i am trying to craft here. let's lump in lennar

it is a big home builder there aren't a lot of houses being sold anyway, and higher rates will crush them, that is the doom theory. why not walmart? it is a worldwide retailer so it has to be hurt by a worldwide slow down. what could be worse when trump is supposedly wrecking the world. autos are the subject of next trade war. gm has this new revaluation. why not say ford is horrible ten stocks that get hit. every one of these stock you know they are going to be down from the get-go all you have to do from now on is press the glum button i need a glum button oh, i have one

f.a.n.g, the idea that the only stocks go up are f.a.n.g i mention this because the love of f.a.n.g is part and parcel with the hatred of glum. these are stock don't need global growth in order to thrive you will hear that facebook will be banned for privacy, apple shut out of china. and that could easily become the new narrative even if it is ridiculous here it the thing, it is not just f.a.n.g that is going higher strength extends throughout tek. dropbox is crushing it in a world where content is increasingly scattered, people need a unified home for this stuff and that is dropbox.

11 million now and the company has a network of 500 company free users microsoft has extraordinary cloud growth twitter is getting revalued upward who want more than just facebook and google square and paypal are not f.a.n.g being going higher paypal is going international making itself popular thanks to venmo. red hat is going higher because it helps on board more traffic to the cloud same for new relic another cloud stock that won't

quit that is not part of f.a.n.g. but people refuse to acknowledge it diamond back and pioneer join. there is plenty of stuff in the market that is working you don't hear about it because it doesn't fit the gloomy narrative. here is the bottom line. glum is the word it is all pervasive as investors freak out about president trump's tough trade policy and that is why we have got to have this etf you feel glum, go sell some glum trump got you down, you know what i'm saying, glum. as for me, these stocks are buys into weakness as the negativity at last as of this morning, when i put up this twitter note, anyone, tweet me something positive the negativity, it has gotten

completely out of hand steve in illinois. >> caller: jim, thanks for taking my call quick question about portola pharmaceuticals. two fda approvals in the last seven months is this a slow ramp up build out. >> we look portola for all of the reasons you talked about it. down 14% forthe year i am going to be on board, but just for specks, some of these are going to come back and not everything is glooming i was really down this morning i couldn't read a single paper and i have been reading the papers all my life not a single article about how well we are doing and how well trade is going for us. and you know what, maybe i am

just old fashion we are in need of a glum index a fabulous narrative that i can't bust it is so ugly. i think these stocks are buys on any negativity, but i'm giving them to you to know this is what people are selling on"mad money," it is a company that is tried to replicate the apple model with weed. i am asking medmen ceo how it is to position itself can you move an enterprise stock ware soft continues. i am going to i have go you my take on the red hot sector stick with glum if you are unhappy and you think trump is wrecking world trade and stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets

send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc ado something he tmadmoney.cnbc.com. we're drowning in information. where in all of this is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you partner with a firm that combines trusted, personal advice with the cutting edge tools and insights to help you not only see your potential, but live it too. morgan stanley.

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i'd never imagine i would spend so much time talking about marijuana. it is becoming big business and that is something that i do know well last night a firm called medmen, a publicly traded company in canada a major player in america's budding pot industry operating innew york, nevada they grow it but best known for its retail the apple of weed. let's take a closer look with adam beerman, the company founder and ceo of medmen

enterprises. and the incredible growth of the industry good to see you. have a seat. so first, california, new york, and nevada. >> and now florida. >> can we buy it yet in florida? >> medical only. you mentioned the four most important medical markets on planet earth today eight and a half years into this have been hyperfocused on controlling the retail assets in those markets and that is where wi we are and will continue to grow. >> the natural person would say how about oregon, washington, and colorado but that is saturated. >> horribly saturate what is important to understand

that every market since those markets came online have been supply constraint. and most importantly, the arduous retail zoning restrictions known to man. >> how about massachusetts what is taking too long? >> this is what it is when something evolves. >> but a dispensary, how long does it take >> it is bureaucratic. >> over 25 years ago california legalized medical marijuana. things don't happen overnight and that is okay for a $75 billion market here in the u.s., it is okay if it takes a few years to evolve. >> your revenue has exploded >> i appreciate it for me, i wake up and i am intent on building the biggest

marijuana store in the world we have licenses for 45 stores a lot of work to do. revenue is big for me. when we get to a billion dollars in revenue, we will look at what is next. but a lot of work to be done. >> you did a reversed canadian merger and a flap about your pack package of which i understand you have made revisions to the executive compensation plans fill me in on the ark of that. >> let's talk about canada from the beginning we have been the why not people why not, why can't you build a legitimate business in this industry why not build a billion dollar business why not make it public for people in the world. canada is the only place to go and fortunately it is a place to

go >> the compensation package issue has been resolved, you re-opened it and given yourself a better deal for shareholders. >> a lot of noise. hone in on two fundamentals. the fundability and the track record of performance. we will keep our headdown and keep performing the way we have. >> do i see white coats, brownies, edibles, cbd, and thc. do i have liquid, vape, what do i got? >> you have it all our mission is mainstreaming marijuana and how do you do that you make it available for everybody. and this is a consumer product and to address everybody, you have to have something for everybody. and in our stores in california we have over a thousand skews in

those stores. >> do you have stores that are for recreationals, for stoners and for medical? >> our marketing coampaign is forget stoners this is about shachardonnay mom, working dads replacing what other people are utilizing. and some cases less detrimental. >> what do you do with the crash? -- cash >> prohibition needs to end. everything is banked we take debit cards. 80% of our transactions are done

in debit cards. >> good to know. that is adam bierman company founder and ceo of medmen benjamin franklin captured lightning in a bottle. over 260 years later as the nation's leader in energy storage we're ensuring americans have the energy they need, whenever they need it nextera energy. every day we hear from families who partnered

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showtime! but the readiest gives a pep rally. i cleared my inbox! holiday inn express, be the readiest. what do you do with a red hot ipo? that just keeps roaring higher how hot is too hot in other words when do you know it is time to ring the register? lately the enterprise software stocks have been soaring into the stratosphere this is a great business to be in at the moment and when i say at the moment, i am talking about as good as i have ever seen it in my career like zuora

pivotal, docusign have made people fortunes. sooner or later they become expensive. i think it is worth considering whether these recent software ipos have gotten overheated. let's start with carbon black, it is a cybersecurity company. doc doc docusign is all about electronic signature signing. now trading at 64. pivotal software, it came at 15, and now it is at 27 bucks. zee scaler spiked up to $27.50, and now trades at $40.

zuora a subscription hit 14 bucks opened at $20 and now at $37 those are magnificent moves, unfortunately price can matter and up here, looking pretty expensive which as we say in the business won't matter until it matters. these are fairly young company so we can't value them on earnings not expected to turn a profit any time soon. easy to own them how about revenue, not that much in the way of sales too. carbon black and pivotal on the conservative side. now, i am always telling you

that money managers will pay up for growth but do these companies have enough growth to justify sky high valuations. ranging from the low 20s to the low 30s in 2019. what was the process atmosphe at a time when investors are worried about rising rates investors are crowding into tech and basically, people want more of what is working but there are only so many of these business software related stocks to go around which gives them real scarcity value. all five of these companies beat expectations the thing is a lot of this has to do with setting expectations. sandbagging investors low

balling estimates is part of the process. i don't blame anyone for doing it we have seen a bunch of take-overs in the software space and salesforce.com is buying mule soft. if you got on in the mule soft last year you doubled your money. and salesforce increased imagine if you bought one of these and your stock goes higher, guess what, they are going higher my suspicion is that all five of these were sliver deals. so that there is not enough supply to go around and your stock soars. on closer inspection, no, that is only partially true the only ones that can qualify as sliver deals are pivotal

software and zuora so not just a lack of stocks supply these stretch valuations are not unique if you look at some of the other ones that have come public last year, they are also incredibly expensive. i am a big fan of okta great narrative, great numbers, now selling for 12 times 2019 estimate how about coupa software doubled year-to-date giving us a 34-year to date. now, sells at more than 12 times than next year's sales the bank sells against earnings. even something like plural

sight. it now trades at 13 times next year's sales now, hasn't even reported its first quarter as a publicly traded company doesn't that seem excessive to you? and then you have this ala vara. now sits at 24 and there aren't even any estimates for this thing yet too new. yet already shot in the strat tostratos fear. >> how can you go with that one when you can go with sales force. when you bet on these, you are betting on companies keep

beating. now that must make you more cautious or else you shouldn't watch "mad money. i'm concerned that the group could be do you for a pullback if it happens, at least you know don't get me wrong, i'm not saying they absolutely need to be sold here, far from it. i just want you to know what you own. and i admit sometimes we are too cautious at "mad money." we caught a three bagger in canada goose recently. what happens when the company reports. i go on twitter and even though a three bagger is not so bad if any of these fresh face softwares reports a less than perfect quarter, its stock will

be destroyed understand the risk reward here is the bottom line. if you have made a fortune in something like these, ring the register on part of your position and swap some of that money into a cheaper more established cloud stock like salesforce or even adobe you will sleep better with less momentum in your portfolio, or maybe pick one of these and you will still own enough that if good things happen next quarter, you will be thrilled and if they don't, you will take something off the table in high cotton kevin in new york. >> caller: i am looking to see if first data has more legs to run after this big booyah bull run. >> it was a good quarter i felt when it was in the 15-17

range never going to break out of it. and that was wrong the ceo told a very compelling story. ed in texas. >> caller: booyah from ed in texas. question about western digital down about 7% in the last month. generating $3 per share in profit pe is six to 1 and highly rated why is this thing falling? >> so it is in disk drives and those are in glut. and we have flash. on wednesday we hear from micron and we will get a better read if the world is being overflashed or not and that is why western digital is down. people think both businesses are being challenged on a cyclical way. alex from california.

>> caller: booyah from los angeles. hope you had a pleasant father's day. my question is about cypress semi and you give a great outlook on this company the stock is trading between 15 and $17 with no end in sight what say you, doctor >> i just opine on a stock called first data. and i gave up on value there is real value in cypress don't give up on it. i think a value will rule out in the end. there is such a thing on being too hot. time to trim your positions on some of these sizzling ipos. stick with more established names in the game like sal salesforce and adobe

nobody got hurt by taking a profit i will tell you why the narrative of this rally has called the move into question. plus a private player that calls shake shack as an invest all your calls, rapid fire and tonight's edition of the "lightning round." stick with cramer. whoooo. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking.

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zuo i admit the narrowness of this phase of the branch beginning to call into question if we have an advance at all that's what i emphasized at the top of the show. even if you know it is not just f.a.n.g and i have given you a bunch of other examples of what is working that doesn't fit the negative narrative. why did we lose good stocks? because of tariff headlines. in response buyers are crowd into the smaller capped domestic companies that do well

and the secular growth companies that don't need a robust economy. and it is kind of crazy. i read so many articles that seem to suggest that the changing fortunes of the world economy are directly the result of trump's trade policies and nothing else frankly it is though trump is the ruler of the universe and not the president of the united states these guys need to learn that correlation does not imply setting off a chain retaliation. the whole world is slowing that is the excepted wisdom. just plain and simple. if you bother to read these articles, they take the issues down from the world to europe to north america and then like a good vodka in the examples that are about canadas germany, and

occasionally italy canada is the world's largest importer of steel. canada is the world's 17th largest economy. at the same time i read several articles about steel tariffs in our own country. i learned that the outfit was largely a steel importer whose business is being crimped by the tariffs and not a manufacturer that benefits the tariffs. no wonder this fella hates the tariffs. there is an argument where a tit for tat trade can spiral

doing so much damage to the multinational stocks perhaps something nontrump related. here is a crazy idea could it have something to do with the price of oil. this has put a crimp on the earnings of any companies that need oil and gas think many of the manufacturer, the airline, the cruise lines. the europeans have little domestic production. we have seen weaknesses in the european banks i think the lack of a strong healthy banking system is holding europe bank more than steel or aluminum tariffs. the ceos of national companies haven't said a word to me about the impact of these tariffs.

besides the fact that they are small potatoes if you can find me a credible ceo from this company who blame the slow down on the tariffs, i am happy to change my mind but until then, whether you love trump or you hate him, the truth is, he is not responsible for the weakness we are seeing overs overseas stick with cramer. welcome to holiday inn! thank you! ♪ ♪ wait, i have something for you! every stay is a special stay at holiday inn. save up to 15% when you book early at hollidayinn.com

>> announcer: lightning round is sponsored by td ameritrade it is time it is time for the lightning round on cramer's "mad money." that's where i take your calls rapid fire we'll play this sound -- [ buzzer ] -- and then the lightning round is over. are you ready, skee-daddy? it's time for the lightning round on cramer's "mad money." starting with joel in pennsylvania. >> caller: booyah, jim i would like to know your thoughts on prax air. >> if the world were really

coming to an end, praxair would be a sell and it is not. it is a buy. tim in california. >> caller: hey, jim, been in this stock for a while in intrexon >> they are doing a lot of things but totally a speck and no more than that. i have got to be honest. john in michigan. >> caller: love your show. i want to know your thoughts on century link. >> i like the mergery, but every time i go away -- i am not going to bless that stock even though i know the acquisition was good. amelia in connecticut. >> caller: booyah, jim, what a

pleasure to speak with you and possibly get your take on a stock that i have been holding for a while. icu medical. >> this is an interesting company. no, no, i mean this is one of those, look, when we get, whether it is art of cure, or this, when we get these medical device companies, they tend to be big winners and less down side they all work. that's why we are behind that group and we think the least expensive is abbot labs. but we also like dex con how about george in new york. >> caller: thanks for taking my call i invested on mdmo what are your thoughts

>> my favorite is alibaba. and i understand this one is working but i am not able to pull the trigger and that, ladies and gentleman, concludes the "lightning round"" >> announcer: lightning round is sponsored by td ameritrade urs. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ welcome to holiday inn!

thank you! ♪ ♪ wait, i have something for you! every stay is a special stay at holiday inn. save up to 15% when you book early at hollidayinn.com

as i mentioned at the top of

the show and also my twitter file, the worry warts are winning. some stories will keep working no matter what think digitalization if they want to buy something, they just use the internet so any restaurant or retailer that doesn't offer online ordering is a at a disadvantage. which brings me to ollo. so that companies can get takeout or delivery over the phone. if you don't have your own platform, you don't need to pay grub hub a cut of any order. in fact of the publicly traded

u.s. restaurants these guys are in business with half of them. let's check in with noah glass, the ceo of olo welcome back to "mad money," good to see you. since we have seen you, i am talking about remarkable success. trace the arc. it has been rewarding for your company. >> totally amazing we work 12,000 restaurants in our network. and now we are at 48,000 restaurants. and over half of the public brands are using olo for ordering and delivery. >> if restaurants had to start over again, wouldn't this be the first thing they do versus people calling or showing up. >> there a very big segment. but if you look at what analysts are predicting, they are

predicting that it is going to shift towards online ordering and delivery >> all right so give me a test case example and talk to me about how their business has gotten better because they hired you guys. >> digital ordering year-over-year is up 31%. >> people get the app? what determines that >> more consumers getting the app and getting comfortable using on demand services and not just picking up the order but getting it delivered to them. >> you have a partnership with amazon if you i want to use my amazon whole foods, can i get the app and use you. >> amazon restaurants which is part of prime now. placing an order through olo and

getting it delivered through amazon. >> so we are excited, everybody wants to get things delivered faster now what if you can get things delivered same hour. for 13 years, we have been working with an industry that demands that kind of speed you can't deliver a cheeseburger in two days. we created a platform called dispatch it coordinates the prep of the order with the driver coming to collect the order and on average a 12-minute delivery time from the store to the door. so now we are opening that up for all retailers and not just restaurants and allowing retailers to compete with online retailers on convenience by delivering same hour. >> the drivers, is that you? >> we partnered with all the delivery providers. >> that is where the weak link has been not enough anywhere. so you may enable, but the

actual customer gets upset if there is not enough drivers. what do you advise to these companies involved they may have more business they can handle. >> you need to partner with more than one delivery service provider and that is where dispatch comes in. it is a redundant network in that we work with many many delivery providers we serve all delivery providers that works with that restaurant. and get one that delivers just in time on average 12 minutes. >> is everyone willing to handle the online ordering, because i tell you why i mention this. sometimes i am in line and someone comes in front of me, and it pisses me off, quite

frankly. >> you have experience with people who adopted the technology and those who have not. and other customers who are picking up at the fast pick up lines, also delivery occcourier they get to pass the line. >> we have grub hub, we can have yelp olo. a pain to be public company. >> i'm really excited about the growth of the company, we are up 4 x since we talked last 48,000 restaurants are great, but 680,000 restaurants out there. so much room to grow. >> great partners.

that's noah glass, the ceo of olo. i know it is not public. but even in the time since we first got together, amazing statistics "mad money" is back after the break. until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. but we should be seeing ymore range of motion., i'm fine. okay, well let's see you get up from the couch. i'm sorry, what? grandpa come. at cognizant, we're uniting doctors, insurers and patients on a collaborative care platform, making it easier to do what's best for everyone's health, every step of the way. you may need more physical therapy. ugh... am i covered for that? yep. look. grandpa catch! grandpa duck! woah! ha! there you go grandpa. keep doing that. get ready, because we're helping leading companies see it- and see it through-with digital. welcome to holiday inn! thank you! ♪ ♪ wait, i have something for you!

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1, 2, 3, go. e*trade. the original place to invest online. an all new "american greed," an online -- it is an $18 million scam that robs people more than money tonight at 10:00 right here on cnbc yes, i thought things were too gloomy surprised to see that the gloom lifted at 3:00 the gloomsters will be back tomorrow with endless articles how the economy is being wrecked by the trump tariffs find me a ceo who agrees i like to say there's always a bull market somewhere. i promise to try to find it just for you right here on "mad money. i'm jim cramer, and i will see

you tomorrow >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ is a low-calorie version of a favorite breakfast treat. hi, sharks. i am ashley drummonds. and i am josh mcclelland, and we are from tampa, florida. our company is abs, and we are seeking $120,000 in exchange for 40% of our company.