managing your personal finances, i know there are people that are thinking about more than personal finances right now. we get that. there's a lot on your mental plate, but you can go to cnbc.com and invest in you and maybe take your mind off of everything else going on as well thank you very much for watching cnbc's continued coverage. 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 want to make you some money. my job isn't to entertain you, i'm here to teach you. call me at 1-800-743-cnbc. tweet me at jim cramer did we just get our battle

against midway, against the japanese in world war ii the s&p jumping 6.24%. the nasdaq gaining 5.60% in spite of the hideous jobless claims number in history this is the best day since 1931. so far covid-19 has run the table against us we were not prepared and this virus has had us on our heels the whole way. attacking the very basis of our civilization, life, liberty and especially the pursuit of happiness which in this case means the right to watch march madness, grab a beer, see cirque du soleil in vegas at least until today we're up against an insanely bullish last few minutes of trading. astonishing return for large caps bully. we've seen big run in all things tech it wasn't coordinated. like our initial attempts to homeland the line in world war ii we were overcome by a

prettier prepared enemy, virus it's killing people directly and killing the economy. like the greedy win at midway, google, watch the movie, even the terrible remake. i am beginning to think we can hold off one of these pinchers and maybe even beat the other. it all started with a terrific bipartisan $2 trillion rescue bill secretary mnuchin put together passed last night by the senate this thing isn't perfect, but man has congress won from the errors of 2008 they underestimated the scale of the problem. it was infuriating when they did step up and pass a bailout, they only bailed out the financials and the auto industry and the fat katz. congress was afraid of spending too much money they erred on the side of going small. this time our leaders went big, as big as i've ever seen they're not just saving business this time. they're lending a hand to everybody, especially workers who have been laid off through no fault of their own. even independent gig economy workers. i'm glad for that, i was pushing

for that they're going to be eligible for insurance, 1099. threatening to kill millions to bring everyone together and take care of the 85% of the work force that happens to work in small and medium-size businesses it wasn't just the senate passing the bill by acclimation. jerome powell our current fed chief came on the today show did something reminiscent ben bernanke did all that's necessary we have all the bullets you need we're going to unfreeze what wall street tells us is cold as ice. he didn't scold anyone even though i would have. he's not trying to punish anyone he's trying to save the economy. it's working you know how i know it worked? even though we had the most atrocious unemployment, 3.3 million souls not reporting to duty because there's no duty to report to

banging stocks lower like i used to call before i called them jimmy chill. we got good news from the stimulus bill. i want to be clear the bond wasn't bailed out it looks like they have money to keep paying their workers. the same as the airlines it's less a bailout and more using the aviation industry as a gigantic jobs program. sure microsoft got a boost from the quarter. more on that later boosted the tech sector. it was the policy response that turned the tide. i expect the checks in the mail by mid april i wish it were sooner. what can you do? this package gives small businesses a lifeline. like the secretary promised us, companies can keep paying their workers with the government footing the bill in the form of generous loans you can walk away from you just have to keep your workers on the payroll take the pledge, bosses. i have the big dogs out, the large corporations coalescing around mark benioff pledge to keep workers on staff even though

there is nothing for them to do. i salute him and those who have taken the pledge as i told you over and over again, the real problem is the pandemic you know what, for the first time, first time this whole way i saw green shoots there, too. i think that's part of the rally. the battle against covid is an ugly one only the toughest suppression measures seem to work. flatten the curve. saving who knows how many lives. on the other hand, the more haphazard approach of of new york city simply wasn't enough now our brave doctors and nurses are going through n-95 masks like tissue paper. help them if you can with the disease spreading through the rest of the country i hope mayors take their cue from san francisco, not new york, a travesty never to be forgotten. wise guys came to me on twitter, don't trust the rally. that was down 800 points ago good luck. we need to perceive the caution.

test lows. every it's never good to short an oversold market this remains oversold. what do i mean be a little cautious say you bought boeing 90 bucks goldman sachs downgraded it, thought it was going under don't be a pig take something off the table i want to be more constructive i know there's going to be bad news on the health front and economy front. at least we're finally fighting back people under estimate the possibility something good can happen because we have a lot of geniuses on our side our pharmaceutical industry conducting clinical trials right now. while they might seem like spaghetti throne to the wall, some can stick regeneron has something real promising. an antibody that can beat back the coronavirus and act as a vaccine. i know it's like a fairytale, too good to be true. you could say the same thing when they figured out ebola and turned out to be a borderline miracle. we had regeneron there was real optimism. wasn't always. even a month and a half ago i was trying to get them to

make -- optimistic, now he is optimistic i'm not saying we won the war against this scourge midway took a ton of losses. there were days you wouldn't want to bet on america back then my dad remind me, pop made landings in the pacific with the 6. none of them were easy he was a sergeant in charge of other people's lives he saw b-29s another day heed be ready for operation downfall ready to invade japan first wave going to honchu knowing you were dying for your country. the next day you heard about a weapon, crazy bomb nobody suri viemz from next thing you know, japanese surrender, you find yourself stationed in imperial city, kyoto. 1942, the idea we beat covid seems fanciful for now like it must have when pop was about to invade japan. bottom line, in the last 24 hours we got something we

haven't had in a long time, hope at least there's still joy, we know victory can still be possible as the stock marked showed us the third day from this astounding rally from the depths of the abyss. scott in georgia, scott. >> caller: jim, a good friendly boo-y'all to you i'm calling about slchlumberger. buy, sell or hold? >> my charitable trust blew it out. i talked about the win -- we've had big wins i blew it. i thought they'd never go this low. they're commit today 12% that says red, red, red, red flag what a great company what can you do? great thing, things stop at zero i don't think it's going to zero we finally have hope of stemming

the economic impact of this virus. it came at an unprecedented $2 trillion bill. when we had the worst job number ever let me tell you something the virus can't stop then with covid-19 testing on the rise, could a swab shortage pose a new problem i'm talking to the head of the company to see how it is keeping up with demand i'm going to sit down with the c.e.o. of a great cloud company to see if it's still worth buying stay optimistic and stay can with cramer. >> announcer: don't miss a second of "mad money." follow jim cramer on twitter have a question? tweet cramer, #madtweets send jim an email to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. and the struggle is real.

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the most bullish story today had nothing to do with the stimulus package and everything to do with the cloud we know there's weakness everywhere ford motors credit rating dropped to junk. macy's dividend, oil can't get out of its own way much of the economy remains on hiatus but then last night the sun came

out in the form of micron, mu, a chip maker reported a very strong quarter when wall street was expecting a weak one sure, there was the usual worry about cell phones, weakness in the internet and things related to autos buried within that gloom, though, i just got a quote you have to read these, i always tell you that. the c.e.o. said this it was incredible and i quote. in china, lower consumer demand was offset by stronger data center demand due to gaming, e-commerce and remote work activity then he went on to say, quote, looking to the third quarter, these trends take shape worldwide, data center demand in all regions look strong and is leading to supply shortages. nice on top of that san jay tells us we are seeing a recent increase in demand for notebooks using commercial and educational segments to support work from home and commercial issues coup de gras

we are encouraged to see manufacturers in china returning to full production and we are seeing china's smartphone recover. holy cow we have to take advantage of this this is some of the best pin action i've seen this entire year let's unpack micron's conference call when san jay says the data center is on fire because everyone is going online because of the coronavirus lockdown, building their office at home, that means great things for nvidia and amd and i still think even at their runs you can buy them especially because they also make graphics chips used in gaming which was just mentioned they make the notebook chips, too. i mean, amd is a notebook chip supplier maybe the best one even though facebook's ad revenue has taken a hit, as mark sucker berg explain

zuckerberg explained to me, it's going to be the place you go if you're quarantined, you start a business youtube business must be strong. same goes for all of amazon including amazon web services. there was a note saying business is low i don't believe that don't forget alibaba chinese e-commerce platform. maybe the purest play, microsoft with its azure cloud business software that runs most of the new laptops. we already know western digital wdc one of micron's competitors flash memory went up we had the c.e.o. on last night. there's 5g, i like marvel technology and qualcomm, two cheap stocks i was surprised it was overlooked because of, yes, covid-19 we heard great things from the c.e.o. leo griffin the other night. the avgo the symbol. a company reported a not so hot quarter. the stock rallied substantially

from where it was trading before those results. we bought this one in marvel for the travel trust which you can follow in the action alert charitable trust club. if all the semiconductors are thriving, they'll need to boost capacity to keep up with new found demand and that means research and supply materials. you saw those rock today whatelse as the stay at home businesses thrive, that's like throwing gasoline on the fire that is cloud computing. adobe service, salesforce.com, they are going to work here. there are so many implications from the rise of the stay at home economy you need new layers of economy, cloud striker, zcom. you need docusign. it's not going back that quickly. cisco's web ex enterprise.

i think they benefit from it they will be the go-to stocks as we work our way through this horrible nightmare john in new jersey, john >> caller: jim, what about the -- booyah, jim how about this gilead sciences it was an orphan drug or something like that. >> it does have recommend dmdesr they're good scientists. there are other stocks down a lot more all right. the coronavirus can't hold back the momentum of the cloud. i expect the stay at home portion of the cloud to make them even stronger it's a trend that's in its infancy. from what i can tell is it's taken over because you can't go to the office. much more "mad money." facing a new head wind, lab supply shortage. i've talking to the private player making millions of the swabs we need, puritan medical

american made. as i mention cloud continues to save the day how is a company like viva holding up despite the market's uncertainty? that's another cloud-based play. i have the c.e.o with delaying student loan payments for six months, i'm asking sofi will impact business i'm going to tell you. stay with cramer

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to improve short-term memory. prevagen. healthier brain. better life. i cannot stress this enough. if we're going to beat this virus, and we will, we need more medical supplies a lot more consider them like ammunition in world war ii we heard a lot about the need for ventilators and personal protective equipment, ppe in new york governor cuomo is practically begging fema front line workers are making gowns out of garbage bags.

the vials, cotton swabs shoved up people's noses. unfortunately you can't use q-tips we need swabs that reach the upper part of the throat it turns out there are only a couple american companies in america that can actually make these swabs at scale one of them is a company called puritan medical group. it's a privately held company producing as many as a 3million swabs per week these medical supply chains are huge let's take a closer look with timothy template vice president of global sales we'll get a better understanding of what's happening here welcome to "mad money. >> thank you very much, jim. >> all right you're the first person who has come on. i watch every show, and is able, i hope, to explain how supply chain issues make it so i can turn to timothy template and say, i need 5 million swabs and i need them yesterday. explain.

>> the issue the supply chain has is most of the government and laboratories are all purchased through distribution and the distribution channels order the swabs from chesherida then they elect where it goes. it is not a direct ship to the labs needed to do the testing. >> is that a cardinal or mckesson >> yes, cardinal mckesson, thermal fischer, bwr, those are your typical distributors, yes >> how quickly can you ramp up new lines? i mean, this is something that you've got a good steady business and then suddenly out of know where you're supposed to make far more than you can can you explain to people why you can't just add 3 million tomorrow to be made? >> well, puritan had done a good job adding additional swabs. the reason is the government has freed up the styles of swabs to be used for the testing. in the beginning all the swabs

that were originally used were naso pharyngeal swabs that goes in the back of the nasal cavity to pick up the sample. today the government has released different types of swabs for nasal collection which now has released a lot more millions of swabs in the market place. >> is that going to hurt puritan? >> no, because puritan is part of the production of all the different swabs that we make for that -- for the covid-19 >> a lot of companies that are similar to yours left this country. they went to china what's happening to them now i don't want you to single anybody out. i think you know exactly what i mean >> oh, absolutely. we're an american manufacturer, been in business for years, family owned we make the best swab there is in the market. we're known for that we supply a lot of slabs to the point of care diagnostic companies that use the swabs for flu and rsv. we play a big role in that whole world of swabs for specimen

collection >> do you feel that you, because of just -- i'm sure you're working 24/7 do you think that you're a bottleneck to the testing or are you guys full-out producing what the country needs? >> i don't believe that we're a bottleneck to the testing. i believe that the way the inventory is shared throughout the country becomes a bottleneck i believe that there's a lot of swabs used in different tests that maybe are not collecting for the covid-19 they're collecting for other purposes, which they consume a lot of swabs today the government has freed up a lot of different swabs for the testing which is opening up somewhat of the floodgates to supply swabs that are necessary for the test >> i deal with a allot of companies on the firing line producing as much as they can. a lot of them had already made commitments, commitments to china, commitments to italy, commitments to spain what happens -- i guess, again,

this is up to mckesson and cardinal i presume that you are agnostic about where it goes. you're giving it to the distributor. but it might not be going to the united states. >> i think now, though, jim, i think be a lot of it is going to the united states. we do a lot of business overseas and we supply them for years in different parts of the country and the world actually and today, you know, some of those sales now have been curtailed and we're keeping the product in the united states for the united states people >> okay. now, if i went to your factory in maine, would i see three shifts at just nonstop >> you'd see two shifts a day, ten hours a day, and now we are at seven days a week we do need a few hours a day to maintain our machines and keep the place clean. so we do reserve the four hours a day to do that >> is there another -- can you make in addition, can you add new space? can you put more people to work? >> yes in four months' time we could double our production of flex

swabs. we would have to build the machines all the machines are built here in gilford, maine. all we need to do is have some acknowledgment that that investment would be paid back in a short period of time and we would be busy making the machines to produce the product. >> are you optimistic that one day in this country anybody that wants to get a test because they don't feel well will be able to get it >> i believe so, yes >> really? because you know there are a lot of people who are discouraged thinking it's a little bit haphazard right now. >> i believe it's haphazard because the supply chain is not very consistent and not providing all the swabs to the communities that need them because there is some restriction on where the swabs go and transport that is somewhat dictated by the large reference labs who do purchase through certain distributors >> wow, okay you've really enlightened me i think first of all, a lot of people said it's a darn q-tip. this is a specialized piece.

where do you get the cotton? where do you source all your stuff to make it >> all of our raw materials are -- that come from the united states with the exception of the raw material for the flack fiber. it is not a cotton swab, jim, it's a flock swab. that is a special patented process we do here in maine. we control the raw material and we send the material out to have it processed to create the flack material and we have -- today we have over a three-year supply of the material itself. >> wow, you know, i have to tell you this is fascinating. you're the first person who has really kind of indicated it's just not a switch. you can't flick a switch and suddenly everybody in the country has enough swabs that are specialized and are not cotton i thought that they were they're not. >> no, they're not cotton. today the major swab today is a flacked swab it is a foam swab and it is a spun polyester swab. the polyester swabs have been

approved by the f dda for nasal collection, not pharyngeal collection they loosened up the area plus the material the swab is made out of it has to be synthetic material. cannot be cotton not a cotton swab. >> you just explained. it's been bugging me now i understand there is so much about this thing, it's nuanced, it's not black and white and you really, sir, have helped explain it to america and i really thank you because i know you are doing everything you can to get as many of these out. thank you. >> yes, i am and i will say that i appreciate every day the 350 employees that come and work all day long for us and they're very proud to be in an american company and be part of this supply chain to help the united states and the world. >> i want to thank you so much for that the executive vice president of global sales at puritan medical products i hope you learned like i do, because these are things that i know are disturbing americans

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now that people are no longer panicked, at least for

the moment, we're circling back to some stocks that didn't deserve to get hammered in the big market-wide meltdown start with viva systems, the cloud based company that serves the life sciences industry these guys help drug companies capture clinical trial data and regulations and make salespeople more effective viva is the kind of company that should be fine here. if anything the pandemic might be good for business even after the bounce this week stock is down 12% from the recent highs last month. i think that's wrong viva reported a phenomenal quarter three weeks ago. the fifth software service company to join the $1 billion revenue club that's what we were talking about the salesforces and workdays i like it a lot more, don't take it from me, though let's hear from the founder and c.e.o. of viva systems to get a bett better sense of where his company is headed. welcome back to "mad money." >> thanks, good to be here virtually. >> peter, i have to he will tel

you still don't get the benefit of the doubt despite your stock is up 424% over the past five years. so i have found that every dip, including the one that happened last week as one that has worked that is because i think you're indispensable. what i was hoping you would do without naming names, unless you can, say you're a drug company and you want to beat covid-19. i have to do real trials, i can't have a professor in france say something good about me. i contact viva, what does viva do for me? >> well, jim, we serve the life sciences industry. those are people making medicines and i'm really proud of the industry right now. if you look at covid-19, our customers are working on testing, new types of tests, quicker tests. they're working on treatments for covid-19, and they're working on vaccinations. the whole gamut. what they're focused on is the commercial side, go to market. they have to talk with health care providers so the patients

can get the right medicines. they also have to run clinical trials so they develop new medicines. both of those, the commercial side and the clinical trials involve going to visit the doctors and the researchers. that's disrupted right now, you know, because just like you and i, they're not traveling for their work now so we're enabling them to do that virtually, both on the commercial side to teach the doctors and working with the research hospitals to get new medicines approved so it's a really exciting and busy time for veeva and our industry >> you're also offering a product that seems to be a great gateway to what you would do normally you charge i presume a pretty good fee for. you wanted to be open for business to show everybody you are. >> that's right. we're offering on the commercial side we're offering a product to -- for the pharmaceutical sales reps to connect remotely with the doctors in a compliant way. it's called veeva engage

we're offering that free to the whole industry until september we have more than 100,000 licenses provisioned and the usage of that product is up 10x in just two weeks >> wow >> so that -- the ramp of the thing, it's just been incredible to me. the energy of the life sciences industry, there's never been a better time because, jim, when things are tough, which they are now, we have to admit they're tough. there's people being affected at the ground level, their health of their family, themselves, income of themselves or somebody they know. but when things get tough you want to get going and you want to get busy and you want to get productive that's what my father said when things are tough, get busy, be productive. do something about it. >> your father is right. you have a number of products these days -- there's a piece that came out by deutsche bank which said solid beat, but vault

is slowing that's, in part, because you actually said when you gave guidance, it was a little bit slower but there were so many other things happening, i thought that maybe you could just explain why that is no longer the fulcrum of whether you should buy veeva or not. >> oh, yeah, we have so many products now, jim. the scale of veeva has changed in 2015 we put out our goal to be a billion dollar company by 2020 we met that goal last year, year and a half ahead of schedule we re-set our goals, five-year goals to be $3 billion company in 2025. so we have a broad set of products, really happy with our vault product. and more than ever, i'm happy on what we're really doing for the industry to help move it forward. >> the industry itself is as counter cyclical as it has ever been, right? it's got money they're trying to invent new products they need to do as many trials as they can. it's very, very expensive. and i don't see any slow-down

occurring. >> well, there will be temporary disruptions. for example, new clinical trials will be put on hold for a bit, so that will cause a bit of disruption but overall, yes, it's not a particularly cyclical industry because, you know, people need their medicine in good times and bad, so that's one of the good things about the industry. >> that's a good point i'm running a trial with a doctor and we had to postpone it because the hospital literally is on lockdown everything is devoted to covid do you think investors will understand that there's just this natural horrible force that's making it so that everybody is a little disrupted? >> well, i think investors overall will understand that i think the savvy investor will know that in times of stress like these, great companies, great leadership teams and great industries, they use it as a time to innovate there's that saying, necessity is the mother of innovation. >> right >> so i feel that.

it's a time of disruption, but a time of innovation >> when i go onto your website, you've got a glaxo video but you have eye terrific thing with bristol myers how you're working with the doctor doing some great things maybe give our viewers a quick insight of what is being said there. i thought it really clarifies what veeva does when you address bristol. >> at bristol myers, we have a number of things going on. all the way from -- first of all, they did a merger, a big merger with cell gene. we helped them do that in a expeditious way. we worked with them from the quality of manufacturing, to the clinical trials, all the way out to the doctor's office we do a's tremendous amount of things with vms. great company. >> finally, the acquisition, fits in pretty well so far

there were two of them >> oh, absolutely. so happy with that we announced a new product today, big new product data cloud. they're in your area, jim, they're in new york city people that are focused on data science and big data around patient data and that's a tremendous area because, you know, in precision medicine you have to get to know the patients and the patient population >> right >> so that you can bring the medicine to the right people >> and that's a huge amount of data and i know you can handle it founder and c.e.o. of veeva which is an amazing company. thank you so much for coming on the show, sir. >> thanks, jim thanks for having me >> take a look at the stock. take a look at the chart every time it got hit, some analysts decided it's not growing like it used to. it's time to buy including this one. "mad money" is back after the break. i know that every single

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we start with dave in california david! >> caller: what's going on with blackberry >> absolutely nothing. that's why i think you ought to take that money if there's anything left and buy marvel tech because tech is king. sean in new jersey, sean >> caller: jim, i hope you're doing well >> caller: missing my wife how are you? >> caller: surgical stock. >> a lot of spending is being interrupted for hospitals because of covid but that is a cracker jack good company and i love the product don't use it, but i represent a hospital that did it to raise money. let's go to jim in massachusetts. jim >> caller: jim, thanks for taking the call. please comment on pfizer >> pfizer came alive with pleasure it's in one of my dow stocks that moved a lot let's go to chris in california chris! >> caller: hello, jim. thanks for taking my call.

i'm a first-time caller. >> okay. >> caller: my wife and i are long-time viewers of your show >> thank you, mario. >> caller: jim, i'm looking at a novinger yoe novo. >> you and margaret have to listen and listen good it's from where i grew up, i rode my bike there i have to tell you, this is as we know it the most speculative of the stocks we're going to talk about today if you can handle speculation, you can put 1/20 of your money into it. no more than that or margaret will yell at you let's go to carol in new york >> caller: calling about adobe ee >> that guy is unbelievable it's great my daughter uses it. makes great dresses. it's a fashion thing let's go to steven in maryland steven >> caller: jim, first time long time i want to know on bar tools, what should we be doing with 10

national gaming? >> i have faith this thing's going to end and it is going to come out on top. he should have listened to me on the nordic american tanker but no, no, no, i believe in penn national but it's not going to happen fast because of covid. let's go to henry in california henry! >> caller: jimmy jim, booyah >> i like the spirit that is in. what have you got? >> caller: calling from beautiful dana point brbb >> yeah, right next to merck too speculative for this guy, sorry. can we go to garon in tennessee. garon. >> caller: i want to talk about simon property group >> david simon has paid out -- are you ready, ski daddy $33 billion in distributions so, before i say it's a reit and i don't like it, i am going to not dishonor him like that i'm going to say, david, you come on the show and you explain

how you, above all, will get through this because if anyone's going to get through it other than my friend, it will be david simon. david, come on the show. and that, ladies and gentlemen, is the conclusion of the lightning round! [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade stronger investor. exactly. ♪(rocky theme music) fifty-six straight, come on! that's it, left trade right trade. come on another trade, i want to see it! more! ♪ 80s-style training montage? yeah. happens all the time. ♪

the banks finally managed to bounce today, but there are still so many unanswered questions here the biggest one, what happens

when borrowers start telling them they can't afford to pay their obligations? i think the $2 trillion stimulus package will help. come april 1st a lot of bills are about to go unpaid we need to get our heads around what's happening with the financials we're going off the tape with a real banker, sofi, privately held online banking play that's disrupting the whole industry. coming into 2020 they were on fire they launched new products, brokerage accounts, tools. sooner or later looks like they'll be going public. we have to ask if the pandemic changes thing. let's check in with the bankable c.e.o. of sofi to see how he's navigating his way through the crisis, more importantly how his clients are navigating it. welcome back to "mad money." >> thank you, jim. my pleasure to be back >> okay. so, anthony, you are the banker to the young people and the young people are the future of this country

what do they think and what do you think -- and i know you put out position papers now. what are you telling them about the $2 trillion stimulus bill? >> well, the first thing we're telling them, jim, is we're open for business we're 100% on your mobile phone. so as those that are stuck at home, sheltering in place, we can help them do everything they need to do with their money from a personal standpoint. they can switch their direct deposit to a sofi mobile app, sofi money they can transfer money into that from other accounts they can pay bills directly from the app, they can pay friends. we'll even send a check physically if they want us to by indicating that in the mobile app. in addition to that, they can monitor all their transactions, no fees, and also generate interest in addition to that, we have all the loans to help them think about refinancing their lives and whether it's refinancing their mortgage, refinancing their student loan, taking out a bridge loan to get them from point a to b during this tumultuous time period, we have

all that capability via the phone. last, we have a lot of young generation members we have over a million members that we serve, helping them borrow, save, spend and invest and we're amazed to see how much activity these young people are using the phone to invest for the first time -- >> what if someone calls you, you know what, i'm out of my job. i haven't gotten paid in two weeks. i don't get the money for another three weeks. so, therefore, i'm going to be in arrears help me. what do you say to them? >> yeah, jim, we absolutely are helping those people whether it's someone that needs to modify things as it relates to the student loan they have with us or as it relates to their personal loan or otherwise. we have specific programs to help them through those times. we're providing for those with student loans suspending payment for 60 days with the option to extend that if they need to. for personal loans we're providing suspension of payments for 30 days. again, an option to extend that if they need to. we are also educating them on the government programs which

are really strong. i think an opportunity for them to get through this time period as well. we're giving them points of view across the spectrum of opportunities they may have, including small businesses we personally -- sorry we as a company didn't offer small business loans directly, but what we're doing is launching today is the ability for people to click on a tab on sofi and go to a place for small business loans we can refer them to somebody and give them great advice to content we're producing on the blog and mobile app as well. the last thing that we have -- the last thing we have, jim, is we provide free certified financial planning advice. so they can set up an appointment right in the app to talk to someone to really navigate all these uncertainties. >> did any of the -- did any of your clients step up to the plate? we just had an unbelievable rally, three-day rally if you bought, say, on monday or end of the big sell-off, you kind of did well

are your clients buying or selling? >> we're actually seeing record levels of new account openings and net inflow so buyers. we've been pretty surprised by the activity our assumption is that there's many -- there are many young people who have been sitting on rainy day funds and waiting for an opportunity to start investing so we're seeing significant acceleration in the number of new accounts as well as netflows -- >> anthony, this is contrary most people tell me -- i know you and i agree with this -- the millennials, they're down, they don't have any money, they have a bad view of life you are telling me about an optimistic view of the country if they're buying stocks, putting money to work in the downturn very contrary to what america believes about this cohort >> jim, we're quite surprised, pleasantly surprised quite frankly people are using the pullback as an opportunity to invest we're seeing record levels of account opens and record levels of net flows into the market place and people are actually buying the dips.

they're buying the stocks that are the most severely hit in the cruise industry, recreational industry and small pharma just to name a few. and so we're seeing a lot of trends that reflect counter intuitive behavior as it relates to investing and, quite frankly, if you're investing over the long term, this is an opportunity to add in a diversified way, to do dollar cost averaging, but also to look at portfolios of collections we're giving a point of view on our app to look at things we call safe haven collections. these are curated collections of etfs that perform well during times of market turbulence, dividend stocks in addition to those things like safe haven collections. the other thing we're seeing is behavior from consumers that reflects the advice that they're getting from our government and how to stay safe we've seen a significant increase in sofi money transactions in the grocery category, in drug category, and a significant decline in rideshare as well as hotel spending and so people are reflecting th

behaviors the government is recommending they do to stay safe and provide social distancing >> it does seem like you're handling it better than what new york city did. my friends out there tell me you had very few cases, people playing by the rules when you play by the rules you can beat this thing. >> right i think that, you know, we're hitting an unprecedented challenge that no one is to blame for. and people for the first time have to restructure their entire financial lives. for the first time they have no income, doctors, lawyers, dentists, executives, salespeople that are highly commissioned are seeing their compensation cut in half or down to zero. and so they're reevaluating their entire financial foundation we have the products to help them do that and because we're on a mobile app we're available 24/7 our team has done an incredible job to be there for the members and i can't thank them enough for providing self-service

capabilities within 24 hours of recognizing that we have the needs. coming up with really unique offerings. we know people are staying at home and they're watching video and listening to music >> they're watching this show that you helped launch watching "mad money," too. >> yeah, i appreciate that, jim. but we just launched yesterday, if you pay sofi money with hulu, amazon, video, netflix, spotify, pandora, we're giving you 20% back if you pay with sofi for those subscriptions. also door dash and have it delivered. we're trying anyway we can to supply incremental value in addition to giving people great content and advice and access not just our products but our certified financial planners >> fantastic time to be at sofi. you would be delivering as you always do. private company, everybody we know anthony is a success at everything he's ever tried let's not forget how good he was at westpoint

>> thank you, you're too kind. >> thank you so much, anthony, c.e.o. of sofi how about that, they're supposed to be doing everything wrong, millennials are doing everything right. "mad money" is back after the break. and the struggle is real. mom! look! take something that can wipe you out? or don't, and fight through every second. new quick-dissolve nurtec™ can bring you back when migraines attack. just one dose can work fast and last so you can keep going. don't take if allergic to nurtec. the most common side effect was nausea. nurtec one migraine. one dose. onederful™

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odd, but i blame the last 500 dow points, it was just the machine gun algorithm. those are not to be trusted and i wish machines would be turned off. i don't like it when it goes up too fast and i don't like when it goes down too fast. i like it when people can get in and make some money and the machines should be turned off. it will never happen because people make too much money from them but that's what that last 500 point surge was. and that part is not to be trusted. i always like to say there's a bull market somewhere and i promise to find it for you here on "mad money. i'm jim cramer tomorrow my host scott wapner.

starts right now good evening once again. i'm scott on day 88 of the coronavirus. another strong day for wall street dow soaring more than 1300 points >> a ferocious bounceback. >> stocks soar. >> we're provideriing relief, stability. >> they feel the fed has their back. >> thank you for passing the financial relief package in american history >> support from th