market. >> ebay, lots of news there, selling off assets >> we learned a lot in the commercial breaks, your nickname being jocko, we'll talk about that tomorrow. citi >> thanks for 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 make you some money. my job isn't just to entertain but to educate and teach you, so call me at 1-800-743-cnbc. or tweet me @jimcramer. you have to hope for the beside but prepare for the

worst. yep. talking about the coronavirus. which the needs now tells us cannot be contained. and that's really why the dow plunged another 879 points today. s&p 3.3%, and the nasdaq 2.7% on top of yesterday's hideous losses the dow has now lost 1,911 points in a row. that's a decline of 6. % two days now, you don't need me to tell you that this is serious stuff, especially if the director of the national center for immunization and respiratory diseases told us this afternoon to now expectist significant disruption in our lives. instantly that became conventional wisdom, that's the reason we told off so hard of course it is more complicated than that, right the stock market is following the much larger fixed income market where buying yields are currently hitting record lows.

all sorts of maturities. the ten year is at 135%. the stocks got crushed the market is screaming that this pandemic will cause dramatic decline in economic activity both here and around the world. when the bond market speaks, the stock market takes that word as gospel if you want to prepare for the virus goto the cd krrk's website. i am not a doctor, i don't play one on tv but i can help you prepare your portfolio for the coronavirus induced disruption which is clearly occurring we fiend ourselves at a crossroads as warren buffett told becky quick it has always been a great time to buy american stocks. sometimes when they are on sale it is a better time pull the trigger. is this one of those moments let me tell you how i approach the situation. it is not cut and dried.

as i have advised you for weeks now, i said i want you to have a ton of cash. how much is a ton? depends on you for my trust, which you can following by joining bly club, 20% of our portfolio is now in cash abnormally high. we were still selling stock even this morning raising cash. i thought we would be down told. i spent all morning on twitter at 3:30 a.m. -- whatever real money dot com, "squawk on the street," even when the averages were looking up telling you no, no, no when the market rallied this morning, even as the buys were tumbling to record lows we used that strength to sell. you have to. this morning was a sucker's rally. you knew that because the bond market, by having interest rates go lower told you it was a sucker's rally yeah, the trust actually sold a stock i like that's what we are doing now,

act at this vision and blizzard. don't matter wanted to sell another favorite, home depot, i believe the pandemic will keep people from shopping that stoj which was up huge ended up giving up the gains should have unloaded it but i don't want to take too short-term review. my restrictions wouldn't let me ring the register. larry kudlow, what happens if he is correct when he tells us to be more optimistic and less hysterical i have known larry a long time he has been right a lot n. that case, you could do worse than owning a stock like home depot, we know they are doing right and thrive in a low interest rate environment. although, this is how hard people have gotten, toll brothers the high end home building reported a disappointing fourth quarter this evening unfortunately we didn't see many buying opportunities today i tried. was looking all day.

sell cvs, buy that one, that could be good, right but the stock fell hard thanks to the sudden ascent of bernie sanders, because krsk purchased a health insurance provider and bernie wants to make private insurance obsolete even if this coronavirus cause as recession, lets them win the white house this a landslide another theory is he won't have the votes in congress to pass a single payer health care plan. why not be more aggressive after this human deline? isn't that what we are supposed to do, what buffett is telling us let's pars it a little. i don't think the virus is had the numbers. the flash points flashed red they are the important bellwether and they are getting annihilated. trucking down year over year got to get a better read on the economically sensitive industry. remember, it is not the disease

itself that's causing the carnage. it is not even -- don't let people tell you it is the fear that's causing it. no, it is the fact that is causing it it is disrupting commerce, slamming the brakes on economy it is not that the only thing you have to fear is fear itself. that's wrong fear the facts the fact aren't good another example. mastercard their stock has been a phenomenal long term winner one of the best in the entire market, one of the top, really, really, for the last ten years probably one of the best there is last night they cut its revenue forecast because of yes the coronavirus. i am confident a year from now we can look back and say this was a one off. but that didn't stop people from dutching the stock nobody says jeff to worry about the coronavirus. that's not how it works. mastercard is in the global economy. if it happened to mastercard it canhappen to anybody in travel and leisure and retail

you don't shop much when you are under quarantine or worried you are going to catch a potentiallipotentiall lethal disease i think the slowdown still isn't in these stocks. that's why i continue to recommend the heavy cash position a good example macy's they reported a good quarter better than expected but it has to address the coronavirus. all she wrote. stock reversed finished down 5.5% i have been adamant that you should avoid the travel and leisure stocks i can't dump on the crews lines anymore. that's in the never retail category restaurants and retailers, if we go into lockdown mode -- i don't need to scare with you that list again.

speculative stocks have had their day this the sun the air is coming out of those balloons get out of them. oil and gas, sell. environmental issues aside you don't want energy into a slowdown when oil breaks through 50, i think it will, i think it will dawn on people that it is not just verleal concerns that aret abouting people out of those stocks who doesn't miss the numbers in this, who can count them utilities, still upside. i like con ed, too cheap i can't emphasize gold i do it every night. it is probably boring the heck out of you do you want to be creative i think netflix is a big winner. amazon, too, if i weren't concerned that delivery could be a problem. i debate talking about disney, we have a new ceo coming in. iger is going to be exec chairman through 2021. a new ceo. i was thinking disly plus, but theme parks. no, not for me

alphabet and facebook they can go lower they have strong businesses, they are not in china. what is really doing well? you know, the trio, i think that zoom video, because you can be at your home, moderna, because they have the vaccine. and gilead because they have got the acute therapeutics which means they have anti-virals. those were my three musk tears, they are still buys. although the first two need to calm a bit finally cash it is your pal, it is your king, as you roll through this moment, until the market at least becomes -- we were at minus 4, after this news, minus 5, 6, 7, 8, i would feel better when did industrial stocks get so low that they reflect the economy's new found weakness that i will say buy?

if it doesn't come here in large numbers, then the downside will be more limited. we will know more. don't worry about it we will take our time. now you have been prepared for the worst. i think hoping for the best is premature. bottom line i want to be more aggressive, beav in a moderna's vaccine works, that zoom is the way to work at home, then i will have more stocks to recommend as the market dose down right now i would feel more comfortable if there were more pain in the market to reflect the true ugliness of the situation. not now. not yet. will, in hawaii. will >> caller: thanks for taking my call. >> of course. >> caller: i want to diversify and get some health care the health care insurance stocks like you united health again have negative political pressures. for new money going in now do you feel rather a drug company like bristol-myers is better postured better here or does it have a higher -- it has a higher p/e and lower eps than johnson &

johnson. >> i like bristol-myers. it has a 3% yield. why is it going down bernie sanders people feel bernie sanders has put a target on the back of all the drug companies bristol mice goes to 58, 59, before my trust will say got to buy more jim in virginia jim? >> caller: pleasure to talk to you. >> same. >> caller: i have listened to you for quite a while. i learned a lot, learned to keep money on the side. >> yes >> caller: it is easier saving money watching the margaret go down than when my money is in the market i am trying not to be a pig so much last week, nvidia, which was one of my stocks, it reached its all time high so i took a lot of money off the table. >> yes >> caller: i wouldn't have done that if you hadn't advised that in your books and on tv?

right. >> caller: by real question right now is -- i think i know the answer but i want to hear from you >> okay. >> caller: do you think we reached a bottom yet >> no, no. you made a great sale. will it's not press our sense. you have got horse sense we sold nvidia, we if the like idiots that's often the best kind of sale, the one that feels idiot and then it is real smart. tomorrow and today were excruciating prepare for the worst. get tough. on "mad money," mastercard'sagea banka is stepping down i am talking to the bankable leader's successor about what is next then i am talking about technicals telling you why they scare the heck out of me and sales force report after the close and announced a key flock is stepping down stay with cramer

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you might have missed it with the carnage today in the markets. the last couple days have been terrible but we have big news in the financial technology space the longtime mastercard ceoagea banka has announced a transition to the roll of executive chairman and he is going to be replaced by a man who is current three chief product officer. mastercard is a major position for my trust 13% compound annual revenue growth rate. it is a gigantic business.

the stock has given you1500% since he took over he is turning over the reins to a man who knows the business inside and out it didn't help that mastercard last night lowered guidance because of the coronavirus we have to get a line on that. many other companies have to do thatt same let's check in withagea and to learn more about the leadership position and the future for the stock even with a global pandemic welcome. >> thanks for having us. >> i didn't expect it. you ran the place for a long time and then without leaving you are helping out your successor. why now. >> it has been ten years when i joined i told everybody i would bif go it a ten year crack. this is the 11th year. one thing a ceo does is build a good bench

we have a good bench he is moving in, he has the knowledge of the payments industry, understands geographies and the culture we want to build and sustain. knowing when to step aside is knowing when to drive. >> that's one that we don't hear often. mikele a, you have knowledge of the areas that people want the know knowledge of payment technologies, digital innovation is there still -- regulation a company i have always felt is ahead of everybody else in these areas. how much has been you and where can you take it? >> i think where we need to go, where we can take it, huge potential beyond what we have already done there is a lot to be done outside of car payments. we are hugely successful in card payments think about all other types of payments that are out there, from one bank account the another, push payments, mobile wallets, i think there is tremendous space out there, b to

b mamts, business to business payments making those simpler, a massive opportunity for us further ahead, voice commerce. what did we think of the alexas of this world and so forth how do we remain prep in that space is more opportunity? i am pretty excited. >> geographically we have been waiting for you to be able to move into china. i think china needs your help more than ever it would seem like a natural for to say we need what mastercard brings any hope >> we have just told our license application has been accepted. getting transactions through our rails is pro probably a year and a half off we have a great partner that does the clearing and authorize and settlement of all the transactions we are going to be the majority holder with work with them locally underground. i am excited but it is a year

and a half away. >> a lot of people want to jump the gun in terms of valuation. michael one of things that people say to me is jim you love mastercard so much, but there are things like paypal that are d they are digital, you guys, you are plastic, why do you still like plastic that isn't the right way to look at mastercard is it? >> you are absolutely not. if we talk about our relationship with companies like paypal they are amongst our largest companies. it is a way for people way but it is our rails and our reach and our safety security. the combination of business models like those with ours is a great way to think about it. apple, apple and us partnering together with goldman sachs on the apple card, another digital company in the end look at our technology like toe kenization and say that's a great opportunity to come together i believe there is a opportunity

the partner. >> the goldman guys tell me look out, this thing is incredible. the apple guys are telling me it is amazing but it doesn't get talked about enough for either company particularly in than an environment now where everything is sale. this is going to be longer after the coronavirus is over. >> i am really not sure why it is not talked about enough i think it is fantastic. have you ever applied yourself. >> i have. >> ten seconds you get it right on your phone it is a fantastic user experience the account looks fantastic. the other day i was in the shop, the shop assistant showed me the card with pride and said i have it that doesn't happen with every other card we are happy about this partnership. true digital first card. people are even excited about the piece of plastic in their hand in this case, metal. >> dq, decency quotient. this i think is your true legacy

besides what you made for share holers dq. >> that started out when i tried to explain to employees the importance of leading with your heart and your mind. both with your colleagues and peer group but also outside the community you live and work in i belief is that companies can do well and do good at the same time that's where the idea came from. iqeq is things i grew up with, dq is decency quotient, bring it to work. do you create a level playing felled and let the best person win? are you fair as compared to just being nice i think all those things add up to dq. the work started with michael in south africa years ago we have gone after 100 million feels for the world food program. we just announced the priceless planet coalition we are going to planned 100

million trees with our partner that's our idea. dq outside the company inside the company if you contribute 6% to your 401k anywhere in the world in this company we will put in 10% the idea is that at 16% a month you can retire at the right age with something close to 75% of your last year salary. those are examples. >> you once told me when my daughters were over, there is hope women are improving in the work place, you went to smith and got the best mathematicians that made me understand top guys were getting it. >> we were trying to hire female engineers in our downtown campus we sent them to columbia engineering. they came back with men. but you have gotting to to smith college of yearing and he this

came back with the most outstanding women engineers who are now the core of our work force. >> thank you that'sagea banka, the current ceo of mastercard. and michael meback, the chief officer who is set to take over the ceo role in january. you get the kind of things that i asked you about when you make that much money for people but you are a decent good many that's probably the most important thing. thank you, gentlemen stay with "mad money."

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hey, our worker's comp insurance is expiring. should i just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? sure! get a quote in 3 minutes at easyaspie.com. that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com. after two horrific days in a row it looks like the market is finally taking this coronavirus seriously. i have been screaming that this outlook would do huge damage to

the global economy nobody seemed to want to take me seriously. now that wall street has woken up to the danger, how much more downside could there be in the industrials? rather than focusing on the fundamentals we need to go off the charts with the help of tim collins, a brilliant technician to get an unemotional sense to what might happen to stocks now that sentiments have turned negative we are talking about intel and caterpillar. it is going to be tough. let's start with the weekly chart of intel the stock spent the better part of the last six months on roll until the outbreak unless the stock can make a sharp rebound collins thinks it can turn into a nightmare. to every the past few months intel was trading sideways in a tight range after a huge rally in january

right in here, it has been doing nothing. okay so it? that action created what is known as a bullish flag american i meant the last few weeks, not the last two months. bullish flag pattern it is a sign that the stock is catching its breath before another leg higher but that's not going to happen the flag failed to hold yesterday. now it is going from possible breakout to a possible breakdown. the stock is now $61 you have two ceilings around 64 and 68 collins thinks the more likely, lets he just say 58 is most likely, then 55. what makes him so gloomy because it has fallen below its ten week moving average. that's the blue. and that's the red thing i keep showing you about. sbefr intel has done this it has been trouble past april, stock plummeted from

the 50s to know 40s over the course of a month. the rsi down at the bottom this is a combination of two momentum indicators, right now, an extremely bearish reading just like again, the april of 2019 that you wanted to avoid. even worse, intel is far from oversold intel is still not that far from overbought territory that means it has come up too far, too fast and was likely due for a drop this is what i have been emphasizing from the top of the show these things haven't done enough work is what we would say. this has got to go lower put it together and intel's chart -- last april didn't end well for bulls and collins is betting history will repeat itself and so am i this is another one that was hot, but not anymore,

caterpillar. industrials are the last group you want to own when the world economy is slowing down. as long as caterpillar can hold above 130, something i don't think is likely, should be in the clear. collins gives you 130, and 129 today, and then he says this dog has serious teeth. where? cat has had a bad year in 2020 hasn't reached oversold territory. my theme we are not oversold yet. it has a slowly descending down slope, not a good sign if caterpillar didn't get any bounce then its ten week moving average will be on track to close below the 21 week moving average. when that same crossover happened last summer this stock got pulverized it is going to be worse this time, i think. even worse, if cat closes below 130 on friday it will trigger a bearish head and shoulders

pattern one of the wildly negative patterns out there. based on the head and shoulders,et could fall 10%. caterpillar has three days to rebound back above that level or, et cetera in real trouble. the market has been put through the meat frighteneder but intel and caterpillar as evidenced by tim collins' opinion -- we are not oversold in these. we are not let's go to david in new jersey. >> caller: how are you >> i am good david, how are you. >> caller: excellent quick question what do you think about ford motor company? >> you know, 52-week low no real earnings mom up. i have worries about weakness all over the world 8.3% yield i know they want the broke that dividend but no.

i never reach for yield. the chart suggests that they could head down, maybe substantially. that's worth keeping in mine, isn't it because we are not that oversold yet. sales force ceo is stepping down i am going to talk with mark ben offwhat it means for the company going forward. an under the player fin tech player and your calls in rapid fire and tonight's edition in the will itning round stay with cramer now, we know the trump strategy-

try to win by attacking, distorting, dividing. mr. president: it. won't. work. newspapers report bloomberg is the democrat trump fears most. as president, universal healthcare that lets people keep their coverage if they like it. a record on job creation. a doable plan to combat climate change.

i led a complex, diverse city through 9-11 and i have common sense plans to move america away from chaos to progress! i'm mike bloomberg and i approve this message. after the second terrifying day in a row with the market in free fall i was hoping to get clear-cut good news from sales force. even after reporting a dynamite quarter the stock got hit in after-hours trading any. higher than expected sales up nearly 30% year over year the guidance was bullish it may be the biggest beat i have seen for this company, yet that the coceo news that he was speak upping down drove the after-hours trading because nobody expected it

let's dig deeper with mark ben offceo of sales force to find out more approximate the quarter and hiscompanies politics. mark, welcome back to "mad money" >> thank you for having me. >> 20 i have numbers for you. you are growing like a small cap company. you are putting on a huge amount of revenues, how is it possible to get that kind of performance? >> jim, we had a great quarter and i couldn't be more thrilled with what is happening at sales force. let me say that the guidance for this year, of $21.1 billion is amazing. you know,s this far exceeds our expectations of what this company would be doing at this point you know that because of our interview a couple quarters ago.

things are going so well. >> i have got mention. i don't know, a guy you introduced me too, keith block, he did a lot of things, an unbelievable trail blazer that allowed you to spend quality think time as he closed, closed business, now he's gone and you are ceo, no longer khouw ceo why? >> jim, i am so grateful to keith. and you know that keith and i are such close friends but keith is ready the move on to his next chapter and he's going to be staying on as an adviser the me but i have to support him, and i am supporting him. he's ready to go forward i give him my full bless does he want to go back to the east and become a ceo he is more of an east coaster than a west coaster. >> you will have to ask him what he wants to do >> i tried just now. he is not responding

let's talk about the wins. largest auto company in the world, vw, i know you had a great relationship with lamborghini which is in a remarkable place and they use you extensively, now it extends all the way to the top >> you know that volkswagen group is one of the best companies in the world you epgs inned one of their great brands i think you have been to lamborghini. stefano, ducati, the motorcycle, audi, the mainstream of the company. porsche, they have bentley they have so many amazing brands but they need to tie it all together this is a moment in time when ever company has to have a single source of truth for their customers. they need to know who their customers are. and they need to develop a trusted profile for those customers so they can build a one on one path, a

jurisprudency. appropriate for volkswagen group. they have about a dozen brands so they can all be integrated into one customer relationship that's the power of sales force, that's the power of sales force and vw group together. >> vw's problem with diesel engines, all behind them, they are doing fine. >> i am excited about working with necks generation of the volkswagen group's leadership. i met with their new ceo and planned out the vision of what does it mean to have a one on one relationship between the driver and the customer. i cooperate be more excited about our work with the company. >> how expansive is your relationship with mike roman at 3m i know mike well they have expansion. their mask division is probably the hottest product in the world right now with coronavirus

panoply, all the sigh silos that you have of sales forces. >> you are exactly right, i have a box of those m 95s in my kitchen i was just looking at. 3m is a great company. i love minneapolis and all of our great customers there. they have a huge vision of how to connect with their customers in a new way it is not a b to c company, it is also a b to b company that's an extremely important part of the vision for 3m. their sales, service, marketing commerce, all of their analytics with tableau, all can come together in this new relationship with sales force. that's powerful and only something sales force can do for them. >> goldman sachs, different from when i was there, only wanted to cater to super rich. now trying to cater with everyone dj solomon came in and now you have a good relationship with him. >> i love dj solomon and their

vision of a full span of products i have an apple card over here i am an investment bank client over here and a corporate customer in the middle and every between. that gives an opportunity for goldman sachs to redefine what does it mean to have customer relationships? they also need to put their customers on a journey of course a lot of people coming in at the low end with marcus or with the apple card now, they want to bring them on a journey all the way up to the top to the high end product stho right. >> that can be a huge foundation for sales force and goldman sachs. >> you are intimately involved with the ceos of the companies that you deal with you like to close yourself, so did keith. and you do that in person. you are probably the most in-person ceo. what are you going to do in the era of the coronavirus >> well, jim, i think that we are still at the beginning of understanding what does this mean, what is happening right now in the world, in the u.s. there is only 14 coronavirus

cases. we don't want to overamplify that situation certainly for some of our customers, it is an extremely serious situation. and i have to tiell you, i have lot of compassion for this terrible humanitarian crisis that's happening in many parts of the world for the ceos of the companies that i have spoken to, the top airlines in the world, the top hotels in the world, top cruise ship companies they are in a very serious situation for the vast majority of us it still hasn't had an impact on our business one of the ways that we architected sales force and we talked about it many times on our show because the first time i met you was during the serious financial crisis >> right. >> whether it is a financial crisis or whether it is a biological crisis we have the ability to percent fear and grow and continue our success

regardless of whatever could be happening in the world we are going to continue our incremal growth to our vision of the future mark, congratulations on a great quarter. on our way to $35 billion. please tell keith i wish him the best. >> i hope you will have him on the show he is a great person arc great friend. >> mark ben off, found e chairman, and ceo of sales force. "mad money" back do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

>> announcer: lightning round is sponsored by td ameritrade it is time and then the lightning round is over are you ready? we will start with john in california john >> caller: is axon immunized for coronavirus? >> nothing is immunized from the coronavirus. you know i like axon it has taser it has been a big win for us reiterating we still look it val in new york.

val. >> caller: what can you tell me about n singo. >> it has 5g and sass and it means they ought to come on the show there is too many other companies like that and i can barely keep them straight anymore. let's go to dwayne in michigan dwayne. >> caller: hello jim what's your long term outlook for amcor. >> simple p.k.ageing companies like them a lot. it has come down i think the stock is ripe here john in north carolina john. >> caller: jim, thank for taking my call for the tenth time. >> no problem. >> caller: aspearian that i remember puttics got fda approval for a non-staredal drug. >> we have them on a couple of times. i think it has run too much. i don't want to be there too crowded, too many players. david in california. david. >> caller: jimmy chill, how is it going. >> the chill man was really

pumping it today. >> caller: it has been crazy. >> chillman made an error on the early morning show had to apologize about that. >> caller: i watched you longtime fan thank you for everything, for all the advice you give us home gamers my stock is -- >> i didn't like the last quarter. everything has to be pristine. in an era of the coronavirus match.com may not be the exact one i want to be the buyer of. you know, when it is the last -- do you know what i mean. to dmechb minute kevin. >> caller: jimmy chill, thank for taking my call. >> kmil man is in the house. what's up. >> caller: energy transport. >> why do you want to create problems for yourself? why do you want to hurt yourself we have enough problems already. the answer is no

that, ladies and gentlemen, is the conclusion of the light nipping round! >> translator: the lightning round is sponsored by td ameritrade i am opening up the lines to hear from you the voices of cray merricka because it is an uncertain time i want to talk to you. >> mr. cramer i want to tell you you are absolutely positively fantastic. >> thanks for helping us not panic in times like this the average investor you cater to us. thank you for all you teach us. >> i am not going anywhere you shouldn't either we will get through this together. >> announcer: cramer has your back call and let's take on the market together. >> we will puzzle it out, and we will make it so that we are all smarter. ♪

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all right. after two terrible horrible no good days, yep we are sifting through the rubble whack systems. in the technology space. formerly red hot stock plummeted 12% from its highs last thursday down only 1% for the year. we know it was doing great before the coronavirus outbreak because they reported terrific

numbers. so, has the stock come down enough to be worth picking at? let's take a closer look with melissa smith the chair and ceo of wex who has made investors a fortune to get a better look at her company and where it is headed welcome back to "mad money." >> good to be here. >> you made acquisitions, enoch and optel, how has the company changed since the last time you were here. >> we have just announced two transactions, it expands our presence outside of the united states we liked how it fit with the gee yes graphic diversity with our business we liked the further expansion outside of a fleet business into more travel related products in when you were on last somebody stopped me, asked me how to ask

how do they make money on the shell deal. >> we loved shell. we moved the portfolio over. think about this people are paying for their fuel using the shell card these are businesses we earn a percentage of what is spent at the fuel location and a few ancillary fees from the customers. >> now when i look at the whole mosaic you have got terrific deals with the gasoline companies. you have got these companies that are doing a fworks b payments solutions in the travel industry how much are you still a company that truckers rely on? >> so truckers are actual low a small part of our business even our fleet business, which is 60% of our revenue, the trucking part is a relatively small part of that think of people that are making service calls. it might be a contractor it may be a florist. it could be the federal government et cetera all different size of companies that happen to have vehicles, and then in addition to that we have some 18 wheel

trucks. >> i am glad you said that because trucking is being hurt right here it is down 9% year over year i am sure people who say maybe that's why the stock has been hit. but you amieliorated that worry for me you did get bigger in corporate travel we have got to talk coronavirus. i feel terrible that we have to. because it is going to be a metaphor that's with us for a long time. did you double down on an industry that short-term to have problems in we love the industry over the long term. >> long term. >> we make decisions that are long term based? right. >> what we are seeing, and as you said, i feel horribly about the coronavirus effect it is not a great thing to be talking about. but if you look at market research you can see based on some of the past issues that we have had they tend to be short-lived. think of that as a six-month period of time with a pretty rapid rebound. >> right. >> we haven't closed the transactions we have out there we also like the geographic

diversification it gives us. if you have things happening across the world they are typically happening within regions. we think there is a benefit. >> expedia had bass news, exploded infrastructure. are they doing better in europe and asia >> 40% of the volume is in asia. 60% in europe, why he. >> did we have to worry about china? >> most of the business in asia is outside of china. >> okay. see, i need you -- you are a season -- you created wealth the stock is up, the revenue is up huge. i think people at home are trying to figure out what does a really good ceo person saying look i am worried about my children this is not a regular environment. >> i think the most important thing is to be calm when you make decision? short supply. >> you know, we bought a company

called efs a few years ago same day we were pricing the debt the brexit vote happened of it is not an ideal situation the transaction has been phenomenal for us. i think people forget that these things happen, they have an impact but they are short-term and you kind of move through it. i think that's part of what we do as leaders is remind people it is short-term. >> what we do as leaders. >> i like that thank you owe much melissa smith, chair and ceo of wex, dealing with tough issues and creatingwell again for shareholders stick with cramer. apps are used everywhere... except work. why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have.

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i wouldn't go anywhere see my good friend brian sullivan has every angle the selloff cuffed in a cnbc special report i always say there's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer i will see you tomorrow.

the cnbc special report markets in turmoil begins right now. it was on okay day good evening, i'm brian sullivan we are here tonight on day 58 of this still spreading global health crisis and now the u.s. stock market has fallen victim the dow has lost more than 1900 points in just two days. >> another stock plunge. >> coronavirus fears are intensifying >> this time, the dow fell 879 points that's more than 1900 points in two days >> the dow extending its losses from a thousand point drop o