>> lamarcusguy adami, the real t the virtual one. >> good thing show two fangs. one we all know and love or used to love, my acronym for amazon,

facebook, google and fang for diamondback energy a classic independent u.s. oil company doing fabulously unfortunately, today was the wrong fang's day to shine. which is why the dow ultimately slipped three points after being up nice all day. s&p finished down .55% and the nasdaq tumbled 2.01% i got nothing against diamondback specifically but it's a very aggressive oil company, probably the fastest growing producer in the basin. when it includes spikes like today, traders reach for diamondback which is a fabulous asset and very low cost. the problem is that this market only bites with one fang at a time when diamondback is running, it means the tech fang is getting just anallnihilated this is dominated by the great reopening

trade. investors expect a booming economy confirmed by today's oil rally and nobody cares about big tech when the economy is on fire and that's when wall street dumps the consistent growth stocks and doubles down on boom and bust cyclicals that can deliver incredible numbers here and now. you might think that's unfair, but the money managers have already made up their minds about what works, and the great reopening trade isn't going anywhere so you need to use any opportunity to buy high quality cyclical into weakness i'm going to try to spot them for you. let use one as exhibit a let talk about union pacific we saw this is one of the best reopening plays because the railroad levered to everything that matters we know president biden wants to build infrastructure and union pacific is a huge hauler the stone you need to build roads. biden wants clean energy union pacific moves wind

turbines union pacific transports household appliances and roofing and non-residential is turning and all sorts of steel oil is making a come back, union pacific ships barrels of it. how about this incredible backlog at the ports in california guess who transports these 20,000 shipping containers per, you know, like the leaning power of piz zrks zpiza, per boat it did it at pyramids of e gimt and here this is a market in san francisco. union market is a one-stop shop for the great reopening. these things will more than likely be stacked on a union pacific train when they finally are unloaded so now the company has got an amazing management team run by lance fritz and train gets 470 miles to the gallon making it better smelling than diesel fuel trucks

most important, this is a stock that rarely goes down so you have to pounce when union pacific got slammed this week when canadian pacific was announced they're buying the west coast rival kansas city southern stock fell from 210 to 206 on the news but if you knew the score, you could buy into weakness because this market loves the reopening plays. sure enough, union pacific is back to 212. 90 and ticked at 215 midday and i bet it's got a lot more room to run when it comes to the reopen stocks, this market will give the benefit of the doubt contrast that with the non-reopening stocks take adobe one of last year's big winners and i've got to tell you i've enjoyed them so much i had them on this morning on "squawk on the street "and he went to great lengths on the conference call and my interview to show you his business remains amazingly strong and delivered astounding numbers and raised the full year forecast it was a thing of beauty adobe is clearly firing on all

cylinders. they got three clouds, the creative cloud, experience cloud and document cloud all three came in better than expected yet, none of it mattered the stock closed down $8.69 for the day. what does matter well, what does matter is adobe is not considered reopening play but a stay at home, work at home stock. that's selling them completely short but this is clearly the kind of thing that's gone out of style on what we call the wall street fashion show on this show so even though the quarter was excellent, i mean, it was -- it was fantastic. its stock got cast off and i don't know if it's safe to buy this one yet it might take a collapse in oil prices or even a new strain of covid-19 for adobe to get the groove back. it insane but that's the way it works. don't get me wrong, i love adobe the company. i think it's fantastic and i would gladly buysome of the stock here but then you'd have

to wait and buy more on the way down if it goes lower and i think it will but see, it's not up to me what is happening. it up to the market. this market is zero patience for anything it considers or considered even a lockdown stock. adobe is hardly alone here you have wounded lockdown plays all over the place for example, the insult to injuries story of general mills. the seriacereal reported a terrc quarter and the growth can't be as robust as the graeeat reopenn because people will go out and not use much breakfast they won't eat at home they will go out no and i want you to throw in, yes, i want you to throw in the curious case of the shrimp tales in the cinnamon toast crunch box. it a story that's making the rounds online. general mills can't catch a break. i don't know

i'm still not sure of course, every now and then you'll see a cyclical getting laid to waste, too and if you want to buy into weakness. the steel company has a tremendous story to tell, it closed down $2 from the highs. that's a buying opportunity. then there say bloody incredibly continue controversy of rare earth materials and a secondary offering and it just got slaughtered down nearly 10% today. mp materials produces rare earths, which is the stuff you need for electric vehicles they have been punished enough and while the stock won't sore back, i believe it has the wind at it back sure, i wish they didn't do the deal and i don't love the insider selling but when you get a chance to buy an intriguing cyclical with amazing scarcity value, i don't know, maybe you have to take it. the great reopening will not be denied now, ideally you want to hedge bets the g in fang, google company

known as alphabet is the perfect way to do it it not getting much love because it was a big winner last year but actually a fabulous reopening play and upmost of the day. why? because the company's advertising joined at the hip with the travel leisure. those ads disappear at lockdown but making a comeback. we're going to see a travel and leisu leisure bonanza. my support of facebook, amazon, facebook and apple it will go badly i found out i. kidding. it incredibly cheap for a growth stock. the numbers will surprise the upside and landed adam is the -- he's the former ceo of the software bought by sales force two years ago to run amazon web services i was concerned when the fantastic former head of aws took over from jeff bezos because i didn't know who could replace him. it's the perfect pick. he toiled for years at amazon

for transforming into a digital power house. netflix, i keep hearing the international business is better than expected. apple, multiple notes including one today how the service revenue stream is. as much as i like the old fang, the fact is the market doesn't care to wall street, these are lockdown stocks that might as well be filled, yes, with toasted shrimp tales but the reopening trades you can buy them all you want and unlike the stay at home stocks, this market actually treats them like they get cheaper as they go lower let's go to ravender in new york. >> caller: hey, jim, high five from brooklyn, new york. how are you doing? >> brooklyn's own right there with you what's up? >> caller: so i've been looking at a stock since two weeks ago guidance wasn't exciting we're looking at nasdaqs which is down like 78% from the highs last month and stock is down 62% from the highs last month.

i mean, swieven weeks in a row s strange. if the market goes down 500% more, god forbid, what would you do and how far -- >> gee, c 3. there is no -- it has the worst basis shareholders they keep selling and selling. i think you need to see two quarters under your belt before people feel better about this stock and it is doing well but it out of favor right now and you see what happens it just what we used to call a source of funds. i need to go to michael in new york, michael? >> caller: boo-yah, jim, how are you? >> i am good, michael. how about you? >> caller: great i invested in this stock eight months ago called carney and i'm looking and it's got great potential going forward, great earnings it up about eight, nine points from when i bought it. what do you think going forward? >> it's a good solid company

viewed as an excellent industrial and fine. up and down for a long time but they have really got their act together and i'm fine with it. i need to go to fred in new york, fred >> caller: jimmy chill, thanks for taking the call. >> my pleasure the chill man is trying. under assault. how is it going? >> caller: you're the best the tech sell off starts to bottom off the more money goes into tech. is the reopen trade especially travel and leisure, is that trade over or does that have room to run? >> well, which stock would you care about >> caller: norwegian is my biggest position -- >> norwegian let me tell you something. it really is -- i mean, frank del rio is basically saying to the authorities whatever you want you want us to vaccinate, we'll vaccinate everybody. what does the government want from these guys? they will do everything they want but the government is discriminating against the cruise organizations and i think it's a darn shame because

they're willing to play ball anyway the government wants but the government won't say it. frank del rio is the best. ceo of norwegian it a tale of two fangs, the tech fang and eh, diamond back fang on "mad money" tonight with the covid relief bill in the rearview mirror, all eyes on washington and wall street are f focussing on massive infrastructure bill. could new course stand to benefit? i'll talk to the ceo of a terrific mid quarter update and then can the meme mania continue following gamestop's incredibly good earnings report i'm crunching numbers. the line in the sand for the booming mortgage sector is joined by united whole sale mortgage ceo tough guy and sitting down with him tonight. feisty to find out why so 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 madmoney@cnbc.com or give us a call at 1-800-743-cnbc m miss something head to madmoney.cnbc.com.

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as i told you, after taking a breather for a couple days, the great reopening trade is back even though the average closed ugly at the end and if you want the poster child, look at new corp. it keeps roaring tacked on another 3% gain despite the collapse at the end of the session when they gave the interim quarterly guidance which is how they tell you how they're doing, they earn $3 to $3.10 per share. that's much higher than wall street looked for. if they can deliver, this will

be the best quarterly earnings number in history and with the stock trading at barely more than eight times earnings, this could have a lot more room to run. let take a closer look with leon, the president and ceo of new core to get a better sense where his business is headed welcome back to "mad money." >> thank you for having me, jim, how are you? >> i'm happy because i've been a supporter since the '80s as gold man man sacks. how are they doing so well with what is going on with the pandemic >> we have the most amazing team in the world, jim. a little bias but our 27,000 men and women are committed to serving our customers, serving shareholders and taking care of business but the other piece of that, jim, the investment strategy we've held in investing nearly $4 billion of capital is paying dividends and creating higher highs and higher lows for

investors, teams and shareholders. >> so important to point out where i want to go which is many times your predecessors said we don't have a choice. if we want to stay on top, we have to spend because when things get better, it going to come back with a vengeance you even said this current quarter, the next one could be even better than this quarter. >> yeah, jim, the -- you know, the overall met trics in the business segments or at or near historic highs and quarter entry rates are strong and most importantly, customers are doing well and our customers are doing well, we do well so as we think about next quarter, we believe we're going to see better results than we're going to have in q 1. >> has it ever come together like this non-residential construction, automotive, renewable energy, heavy equipment, agriculture, all of them seeing better demand. >> you know, jim, look, certainly when you reach a

record new core we've been around 55 years, things are converging and creating a wonderful opportunity for investors, our shareholders and so things are really good and as you know, we're in the cyclical business and we've got to ensure that when things are good, new core is continuing to make the right investments to continue the long term focus. we're not about getting bigger, jim. we're about providing a differentiated value proposition. so we're about adding capability for our customers and making sure in the next three, five, eight, ten years we're doing the things that our customers need us to do today. >> well, it must be the case because steel production in the united states has actually declined more than 17% in 2020, which means you are taking share and the other guys obviously even in this rate environment and even in the pricing have not been able to keep up i mean, the rest of the industry you left behind. >> you know, look, at the end of the day we've got great competitors out there. our strategy is very simple.

our nfocus is to take care of or team, shareholders and customers and delivering world class results and everything we do ensures we steward our value capital well and i think you'll see us move as we move through the year to have a very strong next quarter, as well and again, we see in many of those categories you mentioned well into the year of sustained strength. >> all right so when you say people would say you know what, jim, don't you understand how they made it? the previous president put in big tariffs and this is what happens when you put on big tariffs. how much of the gains are from the tariffs, though? >> you know, look, it's a fantastic lesson, something you and i discussed a lot. if we think about when they were -- the tariffs were put in 2032, a year later, we were $250 a ton in steel prices below what they were when they were implemented. today where we sit, it not

tariff related our demand is a commodity business, supply and demand. at the end of the day the demand picture is strong and on the supply side, we seen a change. there is a substantive change what is coming out of the market in older, higher cost capacity that's come offline has not restarted. at the end of the day, pricing is going to move where it's going to move. what we have to do is make sure we're ready in maximizing everything in new core's portfolio to capitalize in the market. >> am i right to think if we do get a big infrastructure bill, new core has to be a primary beneficiaries? >> yeah, absolutely. you know, i had the opportunity a few weeks ago to go to washington and speak to elected officials. it's something we advocated for back to dan demeco days and i'll continue to be a tireless advocate this nation needs to build and make things and need to rebuild infrastructure for every trillion dollars spent in infrastructure, it's 11 million people back to work. we have to put americans back to work and be a nation that

doesn't offshore things anymore and make things here this pandemic taught us a lot. we can't offshore ppe and pharmaceuticals and allow i imports to come back in this country and steel making. >> especially because a lot come from countries where the air isn't clean and they don't care because they want low priced steel, sometimes low quality steel whereas you're the seventh largest buyer of renewable energy and run the cleanest shop and a recycler in many ways, they want to dump dirty steel and we got the cleanest and i think made the best. >> absolutely. that is one of our commitments as you know, we signed a re renewable ppa agreement today we announced. we're really excited about these opportunities. that's the second one in four months so it's 350 mega watts between the two facilities new core will continue to be on the cutting edge on the most reliable and sustainable steel

maker on the planet. if we build a project in this country, do we want to build a wind farm with overseas material that is emitting at five or six times the rates that the quunitd states are we have to take a whole look protecting the environment and those manufacturers in this nation investing huge amount of dollars, not just new core but across the speck trem. >> and every viewer watching feels like you ceo of new corp. these are the quarters we've been waiting for good to see you. >> thank you, jim. >> it's only eight times earnings if you're a believer like i am, it goes higher. >> coming up, gamestop stock has been ground zero for a howling retail investor revolution but it also a company. cramer breaks down an earnings report that might make home

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all right. say what you want about this market real good sense of humor last night we got results from gamestop the first earning report since it shot into the statratosphere i think it was about as good as anyone could have reasonablebly expected, better much better than anyone imagined three months ago so what happens? how much does it go up 200, 300%? sorry. it gets plummeted $61 or 34% today. paradox. gamestop finds itself in a tough position where nothing is good enough because the stock had such an explosive move over the past foew months. if this stock were at 15, i bet it could have rallied five, 10% but it was at 181 going into the

quarter and that's a different story. i don't think there was anything gamestop, the company could have done or said to make this into a pos positive cat list for the stock. i'm sure those wall street best guys are saying boy, are they caging they didn't take questions in the conference call and give us guidance for the full year they are on important issues that's deliberate. since gamestop is a red hot meme stock manage sometime quiet. maybe it's mistaque. you'll never get the bullish commentary the wall street best crowd had been hoping for. i never said praying for i said hoping for. because i am a gentleman and scholar. the actual results were impressive but before we get into specifics, let me set the scene. gamestop is heading to meme

stock status in january before the cofounder of chewy bought the stock. cohen is the foundation of the bull thesis. you have people arguing he can transform gamestop a once beating down video game player because of phenomenal track record at chewy which is the digital pet food kingpin of course, it not totally clear what that transformation would look like. dog food and call of duty. but the -- [ laughter ] >> like i could resist that one, right? the new shareholder base wants a radical departure. let talk numbers the headline results came in light because of covid shutdowns in europe and closing under performing stores left and right, which is really smart, there were terrific figures under the hood this was a great quarter gamestop, same store sales up 6.5% and wall street looking for 4.7. that's an incredible number and

important key metric e commerce sales grew by 175% to the point where they now account for over a third of the total. up from 12% the year before. that's the transformation new shareholders want to see and that's flat out phenomenal best of all, january was better than november and december which is pretty darn spectacular take a bell ryan the company is cutting cost. sales, general and administrator sales were down over 2020. by the way, here is what they did. they got a big dedense fa case initiative where they perm permanently closed stores and inventory down 30% they don't have to do much discounting. some were saying it's good i read it the other way. how estmanagement's commentary the most important part, in february gamestop put up 23% same store sales growth thanks to continued strength in the

hardware sales, that's the new playstation and xbox 23% the highest of any company i follow these companies are hitting out of the park. like i said before, they are a little caged management refused to gave full year guidance and laid out top priorities invest in new tech bring in new people so they can become a quote customer obsessed technology company that delights gamers that's what they need to do. on top of everything else, we heard about new hires yesterday that shoot the lights out. a new chief operating officer, a heavy hitter from amazon before that google and hired a couple vice presidents to modernize the e commerce and supply chain side of the business doing amazing. one from chewy and zuilly. i have those boxes all over the place from my wife these are the moves you want to see. i like them. not 210 points up like them, that's where i told you to sell when i had ripped out the

catheter in my hospital bed and call in to carl and david and said sell it what can i say i mean, it's not that kind of rip out of the catheter kind of move of course, if this company is going to deliver on ryan cohen's huge digital transformation, it will need to raise capital and that means selling maybe some stock but again, being caged we have to look through the annual report. at the market offering program to let them sell $100 million of stock, they might do that or sell more than that. they made no promises. if they don't sell stock soon, the whole management team maybe they belong maybe in a mental hospital it bedlum short forbethlum there is a chance they can pull it off and if the stock is at 15 or 25, i would be pounding the table here but as long as it's in the triple digits, it's trading like the turn around

happened and management found a treasure trove of bitcoin or a theory which traded today, what at 17? i was trading around there today. actually buying something with it and didn't get it anyway, it trades as if they found a treasure trove if you buy the stock here, you're betting ryan cohen's plan will be wildly successful which seems like a stretch given we don't know what the plan is yet. i think that's why management is so reluctant to give us specifics and granted it's only been a few months but their have every incentive to keep us guessing gamestop knows there is no upside in spelling out specifics right now. this is a multi falcon story and all about the stuff dreams are made of. as long as they have true believers in the shareholder base, there is no reason for them to paint a clearer picture. once they settle on a plan, the plan can be criticized you can build actual earnings models that made it possible to value the stock. who wants that with the stock in the triple digits, the reality of the plans will never be as good as what

the wall streets bet crew is imagining as great and fabulous as they are. so what's this thing really worth? michael, yeah, i know, he doesn't like netflix just hit gamestop with a downgrade. raised the price target from 16 to 29. particular for crash flows and valuing the stock like normal and you have stephanie at jeffreys she decided that you need to value this like e commerce play and when she does that, she can justify $175 price target. only wall street's bets crowd would think that number is too low. i'm sure that's what management wants to see but we don't know if it pulled off but wouldn't that be great if they did? wouldn't that be terrific? before ryan cohen got a seat on the board, there was an activist that got involve he first bought gamestop in 2012 and bought board seats here is the thing. when gamestop started spiking in january, he dumped the position between the high teens and low

30s. nice gain. if he waited another couple weeks, he would have a win of the lifetime he's not a true believer and i bring that up because gamestop puts together the strategic committee. wolf was one of three they appointed, the other two were ryan cohen that's telling why sell when you think that they would go back to 310, why would you sell at 30 look, here is the bottom line. i think gamestop is in an impossible position. when they do well and doing really well right isfy the hot y guys i'm a believer than yesterday but you take your life in your hands if you buy here. let it sink to the double digits the man i call general sherman is welcome on the show and ryan cohen, he can co-host with me any time he wants. all right. much more "mad money" ahead. forget the jets and sharks

i'm eyeing behind united wholesale and rocket mortgage. find out what it means and breaking down the spac lash. all your calls with rapid fire in tonight's edition of the lightning round so stay with cramer.n■

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look, we've seen way too many spac deals of late but with the group selling off once again today, we're looking for the hunt for higher quality merchandise maybe being ignored by the market because my partner david favor calls it, the united whole sale mortgage before it merged in january. by the way, a gigantic spac.

this is the largest wholesale mortgage organize nigination ina and the rise in long-term interest rates it's falling 40%. they worry that it will scare away new borrowers makes sense or result in tougher comparisons. it a legitimate concern. it trading at 4.9% yield most spac plays wouldn't think about paying dividend but this seems enticing but hard to figure out why the stock is doing so poorly down 38% for the year let's check in with the chairman and ceo of uwm holdings. welcome to "mad money." >> thanks for having me. excited to be here with you. >> terrific, matt. why don't you first introduce uwm and tell us where it fits within the border universe because we don't call up and get loans from uwf. >> absolutely. thanks for having me

we're the second largest mortgage company in america behind rocket mortgage, we've been in business 35 years and i've been here 18 years. we differentiate from technology we have 1200 making the mortgage process faster, easier, cheaper and that's really how we differentiate ourselves offering lower rates and closing loans faster and that's how we have grown. we've grown every year since 2014 and will grow this year. >> for technology, like the blink plus you offered and your mobile app you offered both of which sound revolution tary, frankly. >> nobody want as mortgage i'm in the mortgage business and nobody wants a mortgage. they want the house. how do you make it faster, easier and cheaper we built technology so borrowers say this is an easy process and i got a great rate everyone is winning. >> explain to me why because the stock has been hammered, why your company is better positioned for rising rates

we're having even though it off a low base and other companies in the financial sector. >> great question. we're a lot less cyclical than my competitors my main competitors is 93% refinance. we're not like that. we did good and made over 3.3 billion in 2020. everyone won we'll do well and take market share and a rising rate environment. you'll see that. watch the second quarter of this year we'll grow the market share and take over while other people are struggling because rates are ticking up we're less cyclical. of course, mortgage companies are tied to rates. we're a lot less cyclical. we're a steady company and paying a dividend. i have the confidence to do that every year. >> matt, i know you as a competitive guy. you donated $32 million to michigan state and you're a walk on on the 2000 team that won the championship so you're a tough guy and i know you like to go at it a lot of people are saying that you did this kind of an ultimatum to the people at rocket that said look, if you're

a broker and want to do business with rocket, it's going to hurt you and you even said that there is kind of a penalty, a $5,000 penalty if you do business with them i can't imagine this is well received i have negative opinion pieces of david stevens, a regulator and professor saying this isn't good for the consumer and industry what do you say to that? >> yeah, so absolutely i understand i know how different people want to portray it. the decision was not about doing things exclusively we said hey, mortgage brokers, 12,000 of you. if you're partnering with rocket, they're out there doing things to maybe you call it under handedly or in a gray area to affect consumers and brokers. what we're saying is i can't stop them but if you work with them, don't work with us that's nothing crazy there is 75 whole sell lenders it been very popular out of my 12,000 brokers, less than 500 said they will go with them. once again, you'll see that in the second quarter numbers as people want to talk about it but the reality is brokers are all

in and understand that mat t an utm is here to protect because consumers get lower rates. that's not an opinion but fact driving more consumers to brokers ex and rocket and other companies are trying to take them out -- >> you said in the last quarter you guided to 235 basis point i'mmpro improvement. are you able to maintain that with this penalty you put on are you still able to do the numbers? >> yeah, the first quarter numbers we're going to be right within the range of 200 or 235 like i gave guidance on but the penalty has nothing to do with it this is about futuristic how do we win long term andcons as well? that will happen and my competitors don't like it. my business is not designed to make my competitors like me. i'll win for my shareholders and team members and brokers and consumers. >> you're a fair guy

can you walk back that stuff maybe under handed this is dan gilbert at rocket. these guys are great guys. you're a competitor but we don't want to think they did anything under handed we have no evidence of that. >> they didn't do anything wrong. dan gilbert is a winner. i've seen him. he's built a great business. what i'm saying they are doing things i don't think are best for mortgage brokers and consumers and it's not against the rules. if you want to work with them, i wish you the y lower rates and faster times, you're in with 73 other lenders. you have plenty of choice. it a little -- we're different not everyone loves tesla. >> you're scrappy. even though you're huge. >> i'm competing. >> you're -- all right one last thing the stock is down 40%. because of that maybe or just because people just freak out when rates go higher and they don't know the story >> yeah, i think that people just don't know the story. i'm excited. the long term success of the business will help the stock price. the dividend is strong

we'll continue to win and people will see that quarter over quarter. >> all right terrific you're on the show. chairman and ceo of uwm holdings my team tells me to say go spartans. >> go spartans thank you. "mad money" is back after the break. >> announcer: just chill out. >> is this chill master j? >> is this chill master j? >> the chill man

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yeah. don't forget the band. i haven't. with a bang, energy and change came to every part of our universe. seismic or small, it continues. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business. it is time, it is time for the lightening round buy, buy, sell, sell

and then the lightning round is over are you ready, ski daddy time for the lightning round let start with james in washington d.c., james >> caller: hey, jim. big boo-yah from our nation's capitol. >> there you go. what's happening >> caller: so my question is on stmp i took a small position a few weeks ago. i'm about even but do i stay in or buy >> it a controversial stock. what used to boil the stock is a short position obviously at home i think you should sell it i think it's a stay at home, work at home not as heavily shorted stock and there is better ones out there. let's go to robert in maryland, robert >> caller: what's up with the chill man today? >> the chill man be struggling with this market what's happening >> caller: yeah, me, too look, i've been looking at a cement stock for awhile and wanted to know if now is the time to jump in. what do you think about cx. >> always a cheap stock and never seems to be able to

deliver, frankly mexican cement i believe mexico is having a resurgence $6 gee, yeah. i would do a little. let's go to jeff in south carolina, jeff >> caller: ba ba, ba, ba big boo-yah to you. >> i love that whole thing. >> caller: i'm chilling myself long time. been in the q, first time on air. >> all right. >> caller: we want to say thank you for you and your team what you've done for us to become better investors. >> thank you. >> caller: we appreciate it. my stock should be the platform. i gave at the $60 level after the first earnings report. got chose to help provide aws for the cloud of government and i waited out the lockout period that ended last week but it seems to be stuck in the mud question, am i going to get warts or get some royal returns? want to know your thoughts on

ticker frop. >> they didn't blow the numbers away you know when you're that high of a multiple, you have to blow the numbers away and they didn't do it. what these people have to realize -- look at adobe they blew the numbers away and it didn't matter i can't go with that i have to say no to the j frog and learning against the data dog. j frog, data dog, i mean, let's go to alex in new york, alex >> caller: jim, boo-yah from brooklyn. >> which part, man i'm there. >> caller: oh, yeah, winter ter terrace. >> nice, nice. >> caller: i'm asking about bank of america had a great run this year. >> it's the kind of stock people want no doubt about it. i do feel like now people are starting to regroup and say let's just pull away from this market and let it come down a little but bank of america is very, very inexpensive as the group is even after this run,

one more jim in michigan, jim >> caller: big boo-yah, jimmy chill. how are you? >> good, how about you >> caller: doing fantastic jim, i was wondering if kwyou'd give me information on devin -- >> i didn't like devin rick doesn't remember me i once shared a helicopter with him looking over clr and the guy is brilliant he did wpx i don't like the oils but rick, he is -- so take it for what it's worth and that, ladies and gentlemen, is the conclusion of the lightingen round. >> announcer: the lightning round is sponsored by td ameritrade coming up, with almost 300 companies coming public this year via acquisition, has the market spac attack gotten too out of hand? cramer is giving his take on the

yesterday i get this

lightning round call about a spac and it's one of those serial spacs that's brought public by now it an issued spac. i didn't want to confuse spac one and spac two i have done homework on both and prepared to opine on either one. before i got into details, i repeated we got way too many spacs and hard to keep track of. i didn't think that was a controversial statement. we have 292 spac ipos this year with similar names and missions. let just call them thing one and thing two like a dr. seuss book. as berry, the ceo explained on "squawk box" this morning it's gotten poutrageous many of these things are now garbage. why listen we got too many spacs, why take this guy seriously he's done three of them and three more on the way. simple as there are good spacs and bad spacs, there are good operators and bad operators. sterling is a good operator.

he's careful and considerate and thoughtful and rigorous. he came on the show when a publicly traded company was at $19 and told a great story when the pandemic struck, the stock was cut in half. i went back and he said don't worry, things were sound he told me while others in the real estate business were hurting, his partners were doing fine it went to $24 today you may -- you crushed it. plus the property paid you a fabulous distribution the whole way up so berry is what i call money good and i'm always going to be interested in anything he's doing whether it's a read or spac or something else entirely and if he says some of the deals are being brought by bucket chop operators, i'm gettingnauseous we're in the outer limits of the spacing as my morning partner david favor put it earlier today, he joined this term we're now in spac out. he's definitely right. we got a law situation where the bad spacs are driving out the good you want to mess around with

these stocks now you need to be selective because most don't pass i saw on twitter, a throw away alliance i'm an idiot that doesn't do enough homework. people will tell you they are holding onto the wrong spacs when you get the heat they are hurting. i know i should be used to it by now. but the stuff drives me nuts i do a pathological amount of homework any time i level any criticism, the hacklers demand math proof they want everyday we've entered a call in a special purpose acquisition vehicle or they won't believe it i've been doing this for 40 years and i know what a rogue carnival we have going now you don't need math. this is not the end of the world. the market can do fine in a spac out situation but you need to recognize that we've reached spac saturation and for any company that's still bringing these things public, all i can

say is you're definitely late to the party so here is your hat, what is your hurry and don't let the door slam you on the way out. i 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 seeq■ g effectiveness of vaccines and fear of reinfection. a week after dozens ripped