>> dan >> cisco systems. >> general mills. >> snc global. i think it goes higher >> guy >> fire eye. >> thanks for watching "fast." be back here tomorrow at 5:00. 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 trying to make you money. my job is to enterta 1800-743-c tweet me @jimcramer.

we can see the light at the end of the tunnel. we see the kasim terrific vaccine news from the highly promotional mo dederna. nasdaq advancing .95%. despite the case numbers from florida, texas, california, arizona, we might be able to go back to normal sooner than we thought thanks to moderna or frankly, the dozens of companies working on a vaccine including astrazenika. the vaccines, that's the light at the end of the tunnel it led to ludicrously bullish action cruise lines, airlines, restaurants, the retailers, the covid vaccine gain if everything goes perfect, it will be months for the vaccine is ready, maybe years. you got to finish studying before you inoculate

they haven't faced trials. they need to make sure it works and no serious side effects when presented on mass, not just this little group and manufacture hundreds of millions of doses, in the interim, there is only one serious fairly foolproof method to bridge us to a successful vaccine and that is stimulus from the federal government the stimulus to you, to the business you work for, or the business you own however, this market's attitude isn binary resorts, parent of olive garden and cracker barrel and norwegian cruise 20% on one day anything can be justified. when we get a vaccine, people indeed, will take cruises again. with it, the company survives. without it, they could run out of money before they are allowed to start sailing again casinos need crowds but social distancing means no crowds once we get a vaccine, gamblers

will be packed psychosar telike. there isn't much point in international flights. american after the close is talking about the possibility of furloughing 25,000 people. i worry the government might need to bail them out and take a chunk of equity. people are itching to go on vacation we know that corporate travel is a great investment once there is a vaccine, some buyers will have a company desperate for cash and the stock of american airlines finishes up 16%. that's right 16% and i'm worried about it surviving. oliver garden, cracker barrel can operate at full capacity with a vaccine theme parks, businesses that don't work when people are worried about catching covid it feels like a game of pure chance we have no idea how long it will take to get a vaccine but we

know it's a bad idea to own the stocks going into earnings because they will almost surely disappoint what happens there is more than one way out of the jam first, we desperately need another round of stimulus from the federal government when j.p. morgan reported, the ceo laid out the logic on the conference call. he didn't call for more government spending but listen to this, he said quote, in a normal recession unemployment goes up, dell link wengo up. he continues, savings are up, incomes are up, home prices are up, why? because of the last round of stimulus, the super generous jobless benefits that expire at the tend of the month. that's terrific. it's a miracle the economy is holding up well but miracles don't cost 2.2 trillion. j.p. morgan had to take gigantic loan loss charges because of what is coming the end of the stimulus. bailout was only meant to last through july we figured maybe we would have the virus contained early fall

but we botched the reopening and now states are forced to shut down again that's the kasim the extra $600 a week in jobless benefits disappears as a huge chunk of the country closes for business and it's not just unemployment the paycheck protection program,, theprogram, the ppp made 4.8 million loans we used it for our two restaurants and also my end. it's a fabulous life raft that's kept a ton of businesses above water. fewer than 200,000 companies failed that's amazing, too. hats off to mnuchin. he gets criticism. this program worked beautifully. many of the businesses that stayed alive will be crushed but social distancing. especially now that so many states are rolling back to reopen they can't fit enough customers to turn a profit we're a service economy. there are 15 million people working in the restauran industry alone many of these jobs could disappear when the payroll protection borrowers realize they can't make a living in this

environment. those businesses will close up shop and the extra jobless benefits go away no wonder the bank stocks couldn't get lift of sensational numbers. what do we do? first, i'm asking you to temper the vaccine. hope is not part of the equat n equation they have to make sure vaccines are safe and get out in an earnest for gigantic trials that's even hard to enroll before they start manufacturing on mass. the fda is not going to suspend rules if it's administered to hundreds of millions of people including children if you want to hope for something, hope that congress is willing to spend more money. unnoi unfortunately that's far from a sure thing they need to lobby aggressively. maybe they can hammer home the situation. it should not be this hard to throw money at voters in an election year. i'm saving the best for last there is other way washington doesn't come through but it relies on us

we need to wear these. we need to wear masks, all of us it's that simple i unveiled a contest on this show to design a mask more people will wear if you're 15 to 24 you can participate there is a $1 million prize. the bestone is what everyone will want to wear. we can't make technicals better but something that's good so will americans do what is necessary? i believe the masks will prevail. costco went with no mask, no service. they thought costco would take a hit. they thought they were dreamers. they had a blowout month now this morning at walmart adopted the same policy. i'm into them to get them to talk about it. after the close, kroger did the same tens of millions of people shop at these places every week this may be the breakthrough we need i'll call it the mask pontoon bridge it's cheaper and more efficient. according to salesforce.com, an

expert in reopening the economy and is part of this mask initiative the competition i'm talking about, if everyone wore masks for three weeks, we could stop the pandemic in its tracks. that's what he told us when we rolled out the xprize competition. i say make it five weeks and we're golden, although i don't know i want to wear a span mask for five weeks what the heck? if we embrace masking, two-thirds of the market the non-covid stocks would explode higher if you can't be bothered to wear a mask, please do it for the economy. it's not that comfortable. it doesn't look that great this is stylish. maybe we get a more stylish one. it gets us across the kasim and that's what matters and why don't we design a better mask together and pay someone a million dollars to do it let's g to peo to peter. >> caller: peter from new york i'm calling you about alibaba.

i've been buying and selling for a year and a half, buy low, sell high and i've been doing okay so far. that's one thing the strategy number one. number two, what's up with the split? >> the split -- what's with this trading. why are you trading alibaba? why not own it it's a good stock. you'll end up buying it. don't buy high and sale low. buy and own it the only chinese stock i'm recommending, the only one lauren in -- oh, in tough area lauren in arizona, lauren? >> caller: hi, jim. >> lauren. >> caller: my question is about way fair with negative news, is it smart to short sell or do you feel like -- >> i can never dismiss what people say about a particular company. i don't have enough information. way fair, which i felt was in very much trouble even in the

winter is an ultimate and i know this is also as a customer, the ultimate stay at home, make your office into a home -- sorry, make your office -- that's great, make your home into an office play. i would not short that, no i don't want you to short it let's go to pat in nebraska. we haven't had anyone from nebraska late recall ca. >> caller: me question is about price mart throughout south and central america. the clubs look and feel like costco and the company was spun off from costco in the early '90s, however the three-year stock chart looks nothing like costco they posted solid third quarter results and they are continuing to add warehouse clubs but what do you think of the stock? >> when this came public, i like it the results were strong. my travel trust owns costco and

we'll own it for a long, long time, one of the best companies in the country this company is not as good as costco all right. there is light at the end of the tunnel but we just have to bridge the kasim that is separating us maybe with federal money, maybe with the mask that people will like more than this one, although i like this a lot. on "mad money" tonight goldman sachs reported blowout second quarter results and the bank stocks moved higher today as a result but not nearly as much as they should have i am giving you my take on the sector then trying to make lemonade out of lemons in an uncertain market i'll find out the reason the ipo could do the trick one in four households includes someone that suffers from migraine including me thank heavens for the bills. we'll talk to the biotech that makes them stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to

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somebody shoot the bank stocks and put them out of their misery it is too painful to watch them keep getting kneecaped like this this morning goldman sachs reported a truly astounding quarter despite the pandemic and the shutdown in america, they posted the second highest quarterly revenue ever

the investment bank division hit an all-time record best fixed income, kerr retucui and commodities in 11 years. it was insane. obviously this quarter may be proud to be goldman sachs. yet, the stock bare lly budged closing at 1.3%. after being more than double that earlier in the day. at one point barely up at all. it become the rodney dangerfield of wall street and acknowledged leader in the industry, the stock is among the lowest price earnings multiples i figured this wasn't just a surprise i actually thought at one point was a called shot which is why the stock jumped eight points before the market open but as the morning went on, god man sta - gold man started dripping down and down when i worked at goldman sachs in the '80s, my boss said jimmy,

we're a dry cleaner, don't forget it. he meant gold man didn't known anything it takes, cleans, gives back, no inventory and therefore no losses no credit losses oh, but gold man is no longer a dry cleaner. today on page three of the package in the earnings i saw a nasty line, provision for credit loses and a nasty number 1.5 billion. they are not just cleaning clothes and returning them but they have inventory hence the need to set aside money to cover potential loan losses if we have a big recession. they are being conservative here i struggle to find out if they have that big of a loss to equal the provision. to me, i think it's a screaming buy. we owned it in thetravel trust for ages i'm confident it's wildly pessimistic and even i'm concerned about the economy and yet, i find it that way.

what matters if you're worried we're headed into an abyss, you can't own something with credit risk why take a chance when you can bet on financial technology play i've been thinking about mastercard and visa and paypal that's why gold man gave up gains. it's the same action yesterday when j.p. morgan reported a fantastic quarter and took the big loan loss provision so they didn't get much credit and that's why citi and wells got hammered, too. they have the same credit risk problem. wells fargo is problematic stocks went up today, probably over sold. citi group is in good shape. they have a terrific business called treasury and trade solutions, tts that helps clients sustain operations, manage supply chains and of tim mince capital. it's so large and lucrative it could be worth many billions of dollars. i'm sure someone would compare it to the 200 hundred

billion-dollar paypal and citi is $108 billion company. it would be worth more if they were liquidated. that's right, they closed the doors they would be worth more given goldman sachs may not report another quarter this good for ages, i don't know what could get people to buy the stock other than a covid-19 none issue. i love to own a dry cleaner but these days they are tech companies behind the payment plummeting the one that came public yesterday. they're the ones with no inventory, not god mald man can't raise the dividend with enough i'm at a loss here the banks like the oils toxic stocks that need to be avoided as long term investments that's not fair. the fact gold man can make this much money in a tough environment is extraordinary the stock is too cheap it can't always be that way. it's okay to have value that

lane gold man is not a lane horse, it's a thoroughbred race horse but doesn't have any hope of crossing the finish line before the s&p 500, at least not until we get, yes, the vaccine stick with cramer. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

in a highly-connected lexus vehicle at the golden opportunity sales event. lease the 2020 es 350 for $359 a month for 36 months. experience amazing at your lexus dealer. the economy might be on the verge of stalling out, witness incino it's an incredible debut yesterday. the financial tech company brought it from 31 to 91 in a single session as they gave back a big chunk of the gains today boom we're now in the early to middle part of the ipo i talk about where the brokers give you some high quality deals at bargain basement prices to lure you back into a casino that had fallen.

these under price initial public offerings are fabulous to get in on the action but most people can't and unless you have shares in the actual deal that does go to people who are good customers, do a lot of business and have shares. you miss most of the move. that's one example we seen a whole host of ipos and while the stocks are red hot, it's because the underlying come opinion kne companies have so much going for them evaluations are huge we should proceed. there are too many terrific fresh faces. i won't say whoa, that's too expensive. take a company that sounds like it's a stand by a drink call eed lemonade this is reinventing the insurance business not to be confused with beyonce's album. this came two weeks ago. the price is 29, opened above 50 so again if you got in at 29 instant worth and closed at 69

so you could have bought it at 50 and still made money. that's the first day it's an insane move. since then, lemonade traded to the mid-90s a couple times and pulled back and this week $74 today which is the only reason i feel safe mentioning because you're not buying at the high. the dilemma is straightforward lemonade has a great story as a company but the pull back, the stock is so hot i fear that you might get bushrned and i got toe a responsible person we seen crazy stocks too many buyers plowed into this for the same reason lemonade came in at number 17 on cnbc's disruptor 50 list for 2020 the revolutionizing a very big kind of opaque industry. they're revolutionizing the pnc or property casualty insurance industry they have a company that sells insurance. lemonade is digital. you want to buy a policy

you don't have to talk to a person text with theirartificial intelligence power chat bot need to file a claim chat with their bot. they can pay the claim in 3 seconds. they digtized the business end to end that's a big deal. the process of buying insurance or processing a claim is a huge pain in the neck and scary lemonade makes the process relatively painless and we know millennials hate deals with another human being. they would rather do everything online try to talk to a millennial. try it you need to schedule an appointment to talk on the phone. if they can get on the younger generation and i think they can, they might be able to keep the business and the more you get the more you spend on insurance premium. i'll give you numbers. for every dollar lemonade spends, they generate more than two and annualize premiums

the company has been around for a few years and customers are spending more money. people who bought renters insurance three years ago spend 56% more on their renters insurance policies makes sense. most people accumulate more wealth as we get older and more to insure. of course, if you buy a home you upgrade to homeowners insurance that costs more. the only time i had a break is when i live in my car. for the actual results, the company is growing like a weed the revenue nearly tripled in the first quarter of 2020, it was up 138%. at the same time they are losing massive amounts of money they are in teg torritory. they are losing $1 for every revenue. they are growing the business. it would be wrong for them to slow down. you want to have gain set bach

and take over the total disbill maher cut. there is a lot to like total customers doubled up 9 6% in the first quarter the premiums they should collect were up 133% in the first quarter. premiums rise from $150 in 2018 to 183 in the first quarter of this year. meanwhile, the gross loss ratio is falling that tells you lemonade is getting better at writing policies put it together and i'm sold on the idea lemonade is a true disrupp tore in tdi disruptor in the insurance base. they are shaking up insurance and i wouldn't be surprised if they do the same thing like auto insurers the total adjustable market could be enormous. they have companies that use technology in the industry like peloton, roku, square. plus the growth rate is phenomenal anything with 100% plus revenue growth is going to get people's

attention on wall street most money managers are growth addicts versus the people that own the banks. they're value addicts. the growth guys can't get enough value guys keep getting money taken away when you think about the triple digit growers that came public, beyond meat, brazil stock flew up, zoom video, anti vaccine, crowd strike, we just heard from them they gave you phenomenal gains all three getting a boost from covid-19 before the pandemic, they were winners. what might go wrong? negatives. lemonade is burning through money and the balance sheet is pristine, they need to raise more capital if they keep it up. by the way, that's the big difference between lemonade and last year's turbo charged stocks they were profitable or close to and had a lot of money on top of that, we don't really know how lemonade's business model will hold up during a recession because the company was found in 2016.

i think they will be fine. that's a warning sign obviously. everyone is worried about the big recession. finally, if lemonade grows at 138%, it trading at -- i hate to say this because people -- the gray beards in the audience are mad i mentioned this it's trading at 26 times this year's potential sales, not earnings, sales. lovongo sales 30 times lemonade has a great story, great growth rate. i can't say let's buy at this level. you need to wait for a pull back that may be engineered one day there is too many ipos. remember zoom video, beyond meat and crowd strike roared higher out of the gate and eventually pulled back and smart people knew it was the moment to bounce we'll stay focused and tell you when that happens. the first quarter out of the

gate could be terrific when it comes to red hot ipos you need to wait for the market to fall out of love with them. it's a buy under 60. i'd back up the truck if it gets to 50 and if that never happens, i know you can buy a little but tempted to say missed it let's go to harry in florida, please, harry. >> caller: boo-yah, jim, this is harry in florida and thanks for taking my call. >> my pleasure. >> caller: yes, sir. last year i started following the information on airbnb on an ipo and then the news went dark. then the news resurfaced on a possible ipo and now i'm trying to find out what your thoughts are or updated thoughts on airbnb going public with the ipo. >> great question, harry i'll tell you why. they are been releasing numbers of late saying they are a winner

in covid many thought that might be a loser. the company is well run. it wouldn't surprise me. i don't know who they will choose as brokers but this is absolutely a very, very interesting company now and i really think you're right to focus on it, harry it's gotten a better story than it had before. colin in pennsylvania, colin >> caller: jimmy chill, what's up, man 1234. >> chill man had to weigh in on people that got me wrong today per r you have to chief people. >> reporter: -- >> caller: you found it so compelling you recommendedcalle compelling you recommended it because it can perform in bad times. do i back up the truck and buy more or hold for now >> we don't want to back up the truck but buy more royalty pharma is not expensive and very hard to find coming out

of the chute sometimes the best deals, colin, are the ones that are quiet. that nobody gets excited about it just kind of drifts lower and then royalty is one of those lemonade is a true disruptor this hot stock could have more up side but we missed a lot of it hey, i know i should have brought it to you earlier but it was so red hot much more "mad money" ahead including my exclusive with bio haven. how are they keeping up with the kardashians? i'll explain while the covid-19 pandemic has reeked havoc on brick and mortar retailers, online stock x has seen an explosion in activity during the pandemic. i'll talk to the ceo about the surge and demand and all your calls, rapid fire in tonight's edition of the lightning round so stay with cramer.

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totally realistic. the vaccine stocks are getting the love and attention today nothing at all to do with the pandemic i'm talking about bio haven pharmaceuticals that launched a new migraine drug. they just launched a new campaign today featuring khloe kardashian i'm hurt they didn't go with me. i'm a user as chief spokesperson for the american migraine foundation, i get it bio haven is totally on fire i take the drug and love it. this move is gettable and giving more room to run the stock is up 125% since we last spoke to the ceo in april, not bad for three months we got to ask can he keep claiming let's check in the with the ceo

of bio haven pharmaceuticals to get a sense how the launch is coming along welcome back to "mad money." >> hey, jim, how are you thanks for having me back. appreciate it. >> doc, i got to tell you, it's big news to get the take back today campaign with khloe. tell me about it. >> we're really excited about it, jim. this campaign is all about patience and when we were looking for additional patient advocates, chlkhloe kardashian s to the top because she's been very vocal about how she struggled with migraines since the sixth grade and hasn't been satisfied with other treatments and like many patients that we hear they have been looking for a new treatment to come to market and khloe heard about it, got samples from her doctor and responded very nicely and kind enough to agree to work with us to be a spokesperson for this campaign so that others could benefit, you know, from her

experience. >> one of the things that i think people have to recognize is that khloe isn't alone. migraine -- i suffer from migraines, but the number of women who suffer versus the number of men is kind of unbelievable. >> yeah, you're right. it's about 85% of migrainers are women and it usually strikes in kind of late adolescence all the way until about age 50 for women, really in the prime of they a their life i know that's an important life why khloe wanted to get involved she wanted to empower other migraine sufferers and women there is a better treatment out there and you don't need to suffer like one did in the past with the older medications. >> i have the medication in hand i do not leave my house without it i can't. the reason i can't is because when i have a severe migraine, it's very hard for me to concentrate and some people have cognitive, thank heavens, i only

have concentration i put one of these in my mouth, it dissolves and usually in three to five minutes, i don't have a migraine, which is incredible is that the experience for many people >> jim, what you describe and then i love hearing that story, it's consistent with what we've heard from many other patients and now khloe included describes the same thing you describe. this is the only quick desolve otd that's in this class of medications and we designed it for patients for that very reason that it could very quickly within seconds it disburses and starts to get absorbed in your membranes and g.i. system and has a very rapid onset of action and so what we hear from patients, it works fast and it lasts for a couple days and that's very different than the other treatments that had been out there and so what you describe is why we think this is such a game changer for

the treatment of migraines. >> it's important for people to know that there are several shots that you can get once a month. i take one bio haven is the -- the fda is allowing bio haven to be taken with the shots. >> that's correct. what we've seen thus far in studies we've published is that for the acute treatment of migraine, it can be used on top of other treatments of patients taking so our indication currently is for the acute treatment of migraines so if you have a migraine breakthrough and you need an acute treatment, you can take ours. we are also pursuing the prevention indication, you may have seen that we reported a positive prevention data as well and we're very close to being able to submit our filing for an snda to the fda so we can purr

s -- pursue prevention as an indication people have always had to take two different drugs for acute and preventive therapy and our strategy is trying to get one drug at the same dose that you can use for both acute and preventive treatment and we hope the fda is going to approve that next year. >> okay. so where are you versus the drug allergan had it a power house marketer and i wonder how little bio haven can go up against big avy. >> you can imagine we get that question a lot we're a small company but as i like to say, we're a modern day pharm ak pharma company we use social media and tele medicine and also we're innovative and creative in ways like the take back today campaign so what i can tell you is for the last four months, we've gone toe to toe with our larger

former competitor and when we first came into this space, you have to remember they had a two-month lead on us and 100% of the market i can tell you that as of today, we're splitting the market with them so little bio haven has managed to get about half of the market from the larger competitor and we think we're within striking distance becoming the market leader in the new brands or nbrx stats that will be coming out in the coming weeks we think we're about to surpass them in market share. >> one last question i usually don't do this because i don't like to speculate unless the fundamentals are good but your fund mentals are excellent. a lot of drug companies have no pipeline or a small pipeline how does bio haven stay independent? >> we've always said you have to

run this business as an independent company. that's the only way to run your company. we have also developed a very robust pipeline, jim it's not just about migraine migraine is the lead asset and we're excited about that we believe it on to be a blockbuster asset. however, we're also looking at treatments for alzheimer's disease, other number log kiic disorders and ocd. these are some of the worst and disabling disorders there are that face our society and we have to study these drugs or have to bring better treatments to market and so we're running this company with the plans of this just the beginning, the beginning of our story and the beginning of what we hope will be a robust pipeline in improving patient's lives. >> congratulations on getting a great endorser and for all the things you've done for migraine sufferers and maybe for more maybe some more.

i'm watching you for more drugs. that's the ceo of bio haven which makes the migraine medici medicine there are actual drugs now it's not like it was three years ago. "mad money" is back after the break.

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it is time, time for the lightening round buy, buy, buy, sell, sell, sell. then the lightning round is over are you ready ski daddy? let's go to nicole in florida,

nicole. >> caller: jimmy chill. >> yes >> caller: i'm a nurse here in florida and i'm a first time investor my boyfriend and i watch your show every night. >> okay. >> caller: i'm wondering how you feel about beyond meat for first time buyers? >> i care about the franchise and i think they seem to announce a new market. good stores yesterday and asked brazil i like beyond meat tyler in vermont >> caller: jimmy chill, thanks for having me on yesterday scorpio services announced they bought 10 100,00 shares of stnd with oil demand coming back, does that make -- >> no, no, look. there is a bunch of tankers. everybody wants me to go behind them and i can't do it because they trade, they go up, they go down, they go up and down. we're looking for solid blue chip stocks.

that is not one of them. rob in new york, rob >> caller: hi, boo-yah, jimmy chill. >> boo-yah. >> caller: jim, i want to know what is going on with crowd strike since last friday's high. >> the highest multiple price earnings, multiple stocks are going down here. why? because people want to buy the stocks of companies that do better if the economy opens because of the vaccine they feel that these stay at home stocks have reached their peak i'm not so sure but at least you know the answer. let's go to lynn in ohio, lynn >> caller: hi, jim i watch you every day but i'm a first-time caller. >> okay. >> caller: should i sell my boston science -- >> no, one of the best medical device companies out there i happen to prefer medtronic how about karen in new york, karen? >> caller: hi, jim thanks for taking my call. >> of course >> caller: i'd like to ask your

opinion on a pharmaceutical company doing research on the treatment of covid-19 pneumonia symbol osmt. >> i'm going to have to do homework on that company i don't know -- i do not -- i do not know how they are doing. i have to come back and i'm sorry. let's go to jay in california, jay? >> caller: hey, jim, hope you had a great vacation. >> it was sensational. thank you. >> caller: wonderful well-deserved. hey, jim, i'm really excited because a couple months ago you recommended the super star shopfy, zoom and docusign up over 90% in the last three months that's terrific. >> thank you. >> caller: the stock i'm calling about, jim, got rave reviews online it up over 124% in the last three months the graph looks amazing. the numbers don't lie. the company just had a huge pull back today and a huge pull back

yesterday so here is a big question, jim. is it time to walk that dog? woof, woof, woof, woof woof, woof, woof, woof. >> data dog. data dog down 41 cents today i have no idea that the a high multiple stock and those are due for a hit. coming in and then you can buy some that, ladies and gentlemen, is the conclusion of the lightning round. nou >> announcer: the lightning round is sponsored by t.d. ameritrade believable opportunit. i see best-in-class platforms and education. i see award-winning service, and a trade desk full of experts, available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪

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thanks to the pandemic and lockdown, we've experienced years of digitization in four months covid added a ton of fuel to the fire look at stock x an online marketplace for sneakers, watches, handbags and street ware the numbers were stunning. stock moved more than $2.5 billion worth of merchandise on the platform across so million transactions and more than half those transactions were from the past year. while other come opinion knees obsess over millennials, stock x is focussed on a better group genz they are four online shopping destination for male zoomers and that the huge. let's go off the tape with scott cutler, the ceo of stock x to get a better sense how his company managed to thrive during the pandemic welcome back to "mad money".

>> jim, great to be back. >> scott, this is a pretty big milestone and i want you to explain how it was possible and actually, i know nobody wants to benefit from a pandemic but the pandemic brought a lot of new users to stock x. >> i think prepandemic, there was a big question what would happen in categories that are highly discretionary in consumer products and what we've seen is actually an acceleration for many of the trends that you've identified, the shift in e commerce, change in buying behaviors, but in this particular category, we've seen explosive growth in the last couple months that is largely driven by what is happening in the marketplace but that idea that this set of consumers are now having unique access to these types of products through our platform is a huge driver of our growth globally. >> let me ask you something, scott, would you put yourself in the camp of shopfy or say on

etsy, not just ebay but really high growth entities that are amazing things to do while you're locked down. >> well, i mean, we've been a top website against genz demographic. we've been able to really capture that consideration for that buyer around the world and for companies experiencing this tremendous growth, we're capt e capturing on a trend for providing access to products in many instances you can't actually get in brick and mortar the pandemic is accelerated this notion of being able to get access to products online but as people start their journey online, they start on platforms like ours rather than going to the biggest brands out there our ability to deliver a digital experience in the pandemic has certainly been our advantage to be able to serve the customers this way. >> have people discovered it

since last dance, the classic no sports other than espn, jordans being a fantastic thing to trade is good for business >> well, we certainly experienced what we call the jordan effect. it may surprise you. we've authenticated 3.5 million pairs of air jordans since our inception and a million of those have been authentic kated in the last six months. what we saw with the last dance which is an amazing documentary, we saw the demand for jordan products go through the roof on stock x and we saw that increase dramatically on a year over year basis. so people, you know, whether it was the excitement of what they saw, they went back to even the original o.g. jordan and bought those on a platform. so we've been able to capture these cultural moments and that was certainly one and we saw that instantly reflected in the prices of the products on the

platform. >> initially a lot of come opini -- companies were slowed down i know you sent a message to your people on april 23rd about some cut backs that you had to make because you were prif viiv different direction. is it possible you know how businesses can kind of just go can stock x be hiring back people in a month or two >> we're actually growing. i mean, we made some adjustments to our business, our business model, the structure of our operations we needed to make -- open up the opportunity for us to invest in the next phase of growth and so as we look at our future, which our future is really focused on our ability to expand globally to add other categories, we're hiring, we're building, we're investing in the poufoundationsf the business to deliver against the scale that we expect and so it was prudent for us to make those adjustments in april and

now gives us the ability to accelerate into the growth that we're currently experiencing and really being prepared for a really exceptional back half of the year as we see a really significant recovery in the market. >> definitely. look, i don't want to cast aspersions on any company but there are issues with authenticati authentication how can you be sure? the numbers, some of the money -- talk about the -- these sneakers are not $90 sneakers. >> no, authentication is at the core of our experience and actually, there is something that's really come to the forefront during the pandemic. i mean, while we operate a digital business, we have operations we come authentication centers around the world. our front line team members and particularly those autothen k authenticators play a valuable part of delivering a seamless end to end customer experience

as a result. we've been able to deliver an experience trusted by the consuper a consupco consumer and they expect the authenticity from the brand and platform even though we deliver a marketplace experience we think the standard for authentication we set. we set it for the industry and have been able to prove we can do this on millions of units globally from a consumer perspective, there is a different level of expectation on a platform like ours to deliver the authentic experience for the brands that our customers love. >> my friends who actually are on your site and who trade, trade sneakers, didn't realize it was done. happen to be watching one at dinner the guy had to go trade while having dinner. love your platform love the authentication. scott cutler, great to see you again, sir. >> thanks, jim. >> "mad money" is back after the break. owing we're prepared for the future.

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all for buying risky stocks as long as they are small. if you want to buy the airlines after a gigantic move like today betting on a vaccine, understand the risk reward is no longer that good because the company which is a descent company may have to furlough 25,000 people i'd like to say there is always a bull market somewhere and i promise to find it here for you on "mad money. i'm jim cramer and i'll see you tomorrow

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