reality, really in the industrial and manufacturing space. been consolidating for about six months i think it's about to resume higher >> lesser known names are fun. and guy adami, take us home. >> little known fact tim's band none the wiser covers billy don't be a hero. fed ex, traded well today, courtney. >> thanks for watching "fast money. "mad money" starts right now money. i'm here to level the playing field. there's always a bull market center "mad money" starts now. >> hey, i'm cramer, welcome to mad money, welcome to my job not just to entertain, but educate and teach. call me 1-800-743-cnbc or tweet me @jimcramer, to much

speculation in the face of a resurgent pandemic that's how you get a melt down like today dow plunging, 706 points, s&p plunging 1 pnlt 5% you know what it was today, it was the end of euphoria, revolt of the buyers mixed with the belief that the delta variant will take away the up sides that have been making so much money, the transports, the oil, most important, the speculative stocks that have brought younger investors into the market. rampant speculation is one of the ignored risk factors when you look at the active strokes on robinhood or reddit, there has been a ton of speculation. i don't see many mature senior growth spacs emerging. and the wall street bets and

reddit names, guys, get some boomers to help you or a trust f fund you're going to need both before this is through. let's start with the ipos and new merchandise. i couldn't call it junk. i'm a gandhi like gardener this year we're supposed to get 19 deals that's stupid, ridiculous and idiotic. brokers are asking to sell stock in other holders so they can participate in crumby deals, reminding them of the hot ipos this have been allowed to participate in before, if money managers don't commit to buying this cycle's dogs. they may not get a piece of the big winners. not every single ipo is terrible if they come at a decent price, use that on demand video software, helping to make quarters, because it's a pretty good online marketing company. it does bring in money brings in subscriptions, but there are way too many deals especially in already saturated areas.

you've got couch space, application developers or gambling.com, which does digital marketing for the gaming industry could use a new one. how about exponential fitness or infrastructure holdings, boy, do we ever not need that. these are all areas we've got too many stocks already. it's the last thing we need or more that goes for the small biotechs, analytics platforms, we know you want to make money for your firms but you are killing the golden goose but these ipos can come in and come in and come in because they know the brokers know there's enough money to get everything done, even if it means money managers need good stuff to buy garbage they need us more than we need them it won't stop until the buyers revolt, until the syndicate, no thank you. i've said with the federal reserve and a flood of new

stocks in the form of speculative ipos this is definitely a rapidly rising tide, syncing all boats, when you include the spacs, 638 deals this year, 638, worth 217 billion, up from 140 deals worth 47 billion last year at this time that's insane. i mean, that's just insane what are the other signs that speculative before it's coming to an end. i don't know, why don't we start with the meme stocks now that everybody knows the formula, exec tutives are ready with insider sales the moment the meme sters gun up their stocks the high end gaming stock, went back to 30 when the insiders caught the memes and slammed them in the head never seen a nicer bunch of guys get one. the meme formula no longer has any staying power. it was a good trick while it lasted but now we're all on to your nonsense, and soon even the s.e.c., oh, that's going to be

the southeast conference, maybe the guys in washington are going to figure out the obvious game we know robinhood, the brokers is coming public in two weeks, the worst time, overwhelmed by stock already. we just don't need another fin tech, especially not another big one. the robinhood deal will be set up to win, because they're allocating 25 to 30% of the shares that use the platform if it breaksprice, can you imagine how that would be. you see them buying them early in the morning perhaps the most revolting aspect of this year of speculation is in little stocks too small to mention on air because they're not worth anything, little nobody stocks that keep seeing massive spikes in volumes this selloff won't end until individual investors realize this strategy of sucking people into tocks, banging them out a soon as they run, that it's

insidious. the s.e.c. needs to crack down on this stuff because i think it's basically sophisticated pump and dump scheme i wish i had a subpoenaed power. and cryptocurrency, in retrospect, it peaked right around when people started talking nonfungible tokens seriously. who came up with that name very much of a close situation don't you think? up there for the nfts, do you think we'll remember that acronym in six months. we've got billionairitis have you notice how bitcoin seems to be hanging by a thread, once again a sign that the speculative excess comes to an end. i want to see it dragged to lower levels before i consider it going back in don't get me started on sable coins like tether that are unstable pegged to the dollar, allegedly backed by green backs, as well as solid commercial, we have no idea what the paper is or who's selling it to them i'm selling it the achilles heel

of crypto. it's eye opening there's a ton of speculation in oil. without the opec agreement, it could have won a hundred dollars. opec is up in production, and there's a cascade lower as all the speculative excess got trained out. it means lower costs for everybody, and at these levels, some of the better oils, chevron with a 5.6% yield. a lot of oils have been huge winners in 2021 and now those gains are being shredded like shredded wheat, which has very few calories the hyper growth stocks that traded, multiple sales, they always take a hit when the whole market gets hammered after a while, that he cost collateral damage to the strongest growth stocks. and exactly what happened today, and when faang plus microsoft rollover, that's called a bottom so what do you do now, i think you watch as the speculators get blown to kingdom come while the

pandemic stocks come roaring back don't be sucked in by the strategists calling far 10 to 20% decline. we have seen the declines. open your eyes, i think they're the best ones to buy the rails, the airspace, other than boeing, which i expect to have a bad quarter for 50 points i have been saying that and the infrastructure stocks make tons of sense down here because they're down big ibm, worth looking at. finally, pick a bank, will you they have good earnings, the banks are hostage to the ever roaring tenure eventually the tenure is going to reverse itself. business is good in this country, and start going down in price when the delta variant, if the variant is conquered i have a good list coming up later in the show. the anti-vaccors are winning right now. congratulations. this is a sell off hitting the most speculative assets the hardest, along with the stallworths and faang and microsoft. once speculators are blown out,

the apes whatever they call themselves, the people who together, united will never be defeated which is what the trotsky said, and the people united and the stocks that are down start rallying, then we can find a tradeable bottom. we're close, but the speculators haven't been fully crushed yet, and ground down like nubs. these tortured souls can leave gracefully now that's when the pain stops, when toto comes into play don't know toto, turn off the oxygen ben, in tennessee. >> boo ya, dr. cramer. thank you for all of us home gamers, long time listener, first time caller, and action alert plus member. i'll be honest, my question for you is about a potential reopening play since rental car companies are having trouble

buying new cars, they have raised the rental car when they travel the delivery service is also at an all time high i'm wondering what are your thoughts on uber >> uber has a problem, not enough drivers absolutely, i love your theory, it's terrific. but they need drivers or autonomous cars, and we don't have those yet i want to go to robin in maryland robin. >> jim, listen, i bought roku in 2017, for $2,100 i bought 50 shares now it's over 20 grand, should i hold on to it? >> you take what you put in right now, go buy yourself two cashmere sweaters, let the rest run, you're a winner, i like winners. you're obviously not a memester, don't forget, younger investors, find a boomer to help you out or else you're out.

have patience, once the speculators are blown out, especially the apes whoever the heck they are, and the stocks are down, then we're going to get a tradeable bottom, and by the way, i didn't mean any of that about the apes. they're nice stocks falling aggressively today, i'll reveal the name when i sit down with the ceo, and also the guy who started it. then it was the worst day for the dow in october, we're still in the middle of earnings season and worries about the delta variant are wreaking havoc on the economy. but hey, i got a regional player, first horizon, doesn't seem that much i'm going to talk with the ceo i urge you to stay with cramer >> don't miss a second of "mad money" follow @jimcramer on twitter. have a question, tweet cramer, #madtweets, send jim an

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resurgent pandemic, a few stocks managed to rally were almost all stay-at-home plays, the original bar company which came public several weeks ago by merging with a stack this is the company behind box bark, it sends dog owners a monthly box of toys and treats for their pets there's much more. when the spac behind this one announced the bark deal late last year, the stock surged to just under 20 bucks but the whole cohort rolled over bank continued to sink this morning it looked like bark was going to have a nice day but rebounded thanks to the stay-at-home rally so could this be an excellent time to buy a digital dog toy service that also is now involved with food let's take a closer look with matt meeker, cofounder, and executive chairman of the bark company and also with any niche,

gen gentlemen welcome to "mad money,". >> matt, i want to start with you because people get ideas this their heads sometimes because they have something, and there's nothing for them you had a gigantic 140 pound great dane named hugo, was there anything for hugo in the pet stores. >> you see him right here, right over my shoulder that's him and no, especially in new york city new york city has all of those small dogs that fit in purses, and those are great dogs, too, but hugo is very under served in new york, and what i learned from that was that all of our dogs are really unique and special, and they have unique special names. and they all deserve to be served as individuals. that's what bark does. >> nvidia just, won't stop eating paper it's absolutely driving me crazy. i want to ask you because of your background, the digital background, how do you scale

personalities. in other words, can personality dogs be scaled >> yeah, so that's a great question, look the bark foundation is basically high level personalization with high top service. for example, i think i saw you tweet a picture of marley where you described a toy, right, so we learned the data, you understand the cohort so that we can tailer not just the toys the food elements we need them, they can adapt and grow. so we have a very strong machine learning base, which is oriented followed by our happy team which is one of the best customer service teams we have come across. >> i saw, i looked at the turn figures and there are just south of six, which means basically you almost have to get everything you're losing a huge number per year and i was wondering whether you're not hurting yourself by also being in all of these different outlets because the subscription is where the money

is. >> subscription is a core business look at bark, if you work back from a mission all dog parents, you can buy a target for $7. at costco, pet smart, yes, when it comes to our ecosystem, we have fun, food, home and health, the four categories. done a tremendous job, $57 million over the last eight years, mere 378 million that we actually announced for the last fiscal year. as we're scaling food, we're seeing our pay go up for example, you're a philly fan, you're able to understand that and pop up 76ers, eagles, cross at an up scale scratching the surface on that. >> i want them to wear philadelphia stuff i can't help that. okay so matt, when i look at the competition, and i see, i mean, we're big into chewy, and we do a -- anything that is personal and small scale we do for the dogs, but i wonder, matt, if

you're not going to get a tail wind it's a little sicynical, a tail wind from the delta wave. >> we very well might. i think we benefitted certainly last year when a lot of new dogs came into the home, and those became new customers for us, but when covid ends or ended, the dogs don't go back they don't go back to the shelters those are family members now, and so what we have seen is our most recent quarter, the first calendar quarter of this year, the fastest growing quarter we have had in a very very long time, certainly the fastest growing quarter of covid so we are accelerating if more dogs come into the home because of delta and personally i hope it goes the other way, but if more dogs come into the home because of that, we're ready to serve them, and keep that acceleration going. >> so i look at the close to ebita positive that you were, i say, wow, they can do it, but

now i see you want to go into a growth mode which means you have to spend more money. is there a way to be able to be in growth mode and not spend as much money let's say two years ago from now >> yeah, so the way we are approaching that, jim, is we are poised for growth. as you think about food, i'll take food as an example. 75% of that is kibble, completely nonpersonalized the personalization is you slap a label for, you know, youth, adult and senior personalization for us means the example matt talked about as the dog grows, for marley grows, nvidia, understanding and serving them that's where we need to get the investments from we are encouraged by the results. in the future, absolutely, we believe in disciplined growth! look, we're hung up on chewy because they painted pictures of marley and nvidia and they're up on our walls, right, and we can't think, well, hold it, how can we use anybody other than

chewy, look at the pictures. it's stark when you go into the house, you see the pictures, chewy, we love chewy. >> we send those pictures out as well, so we're happy to send pictures and you can judge which pictures are better! we already did bark. we actually have used you as a, well, i know this is going to sound silly to anybody who doesn't have a dog, but we bought marley a subscription because we thought he would be happy by the box, of course he ate the box, but that's okay, right. i mean, they love boxes. >> more value in that thafor yo. you get the toys and the box for free >> it's a very thoughtful product that you have, and i can't see how you could miss if people love their dogs, know what i mean? >> that's just it, and there's 63 million households with people who love their dogs and are obsessed with them like you are, like i am, man ish and we

are serving 1.8 million. 61 million households that we have to get to, show them how great our products are, how specific to their dogs, and how well we listen, and feed them better, take care of their teeth better make sure their mental health is great. there's a lot of work left to do a huge amount of growth in front of us. >> i got to thank you guys for what you're doing. personally, this is a big issue for me and for you guys. i know that's the case matt meeker and manish, thank you so much for coming on "mad money," it's great to talk to you and what you're doing for our pets >> guys, look, i just think that dogs became part of your family during covid i wanted to think the pandemic was over that's really not true but boy, just a sec. is anyone else's dog able to get into headquarters? well, you know what, i've got it all. "mad money" is back after the break.

>> coming up, borrow at 3%, lend at 6%, and catch "mad money" 100% of the time cramer deposits knowledge into your safety deposit box next. next, delta's impact, breakthrough cases and new calls for masks, plus, our crime in america series begins. oakland's police chief live. the facts, the truth, the news with shepard smith, next, cnbc ♪ music ♪ ♪ dream, dream when you're feeling blue ♪ ♪ dream, dream that's the thing to do ♪ ♪ music ♪

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at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350. experience amazing. sell, sell, sell, sell sell, sell, sell, sell, sell the hallmark is getting killed by worries about the delta variant wrecking the economy, but we're still in the middle of earnings season. every quarter we try to catch up with the major banks they all reported one time these companies have tremendous insight into the boarder economy and they're hard to discern. we heard from j.p. morgan, goldman sachs, and morgan stanley. in general, they deliver better than expected numbers, but most of their stocks sold off in response partially foreshadowing the grim action, and it only got worse,

not better to potential buyers today. before we get into the quarters, let me set the scene for you going into earnings season, the major banks were up substantially for the year, which matters. wells fargo has been the best performer, even though it's the worst operator in the group. cheap stock. travel trust, you can follow by joining the plus.com i'll be talking about it at a conference call on wednesday goldman sachs and morgan stanley have had a nice year booming ipo and m and a businesses, even if trading divisions fall off in recent months morgan sanley could handle it. there's been a lot of variation. wells up 45 for the year, citigroup 11%, that's important. most of the banks sold off in response a couple managed to rally. we're going to take them in descending order, you have to start with wells fargo which jumped 4% wednesday. wells delivered a massive earnings sales, and earnings peak but that headline number is a little misleading because they

got a major boost from some one off items like a $1.6 billion reserve release. within the core business, you know, we typically care about net interest income, the money they make off the difference you pay from the deposits and collect from the interest. wells missed expectations and lower year over year loan balances what did it go up for, it's because wells fargo graded on a curve. remember a curve in school everybody knows this is a turn around story rather than focus on the negatives, this time there were several, the bank's efficiency ratio, the ratio of overhead expenses and revenue, and we're looking for 76%, which tells you the ceo has done a great job of cutting costs. management said they can get through a sustainable return on average, tangible common equity of 10% by the end of next year, possibly getting to mid teens over the long run.

mid teens is a growth stock. however, wells fargo didn't start running until they said they were going to buy back more than the previously announced 18 billion of stock over the next four quarters. we're thinking 18, aren't they going to do 20 18% is 10% of the share count. banks have been able to repurchase large volumes of stocks the fed gave them permission and a massive buy back is a game changer. i think the games can continue as long as the turn around keeps working. there will be near term turbulence this is the one to buy i'm telling you,if you can get this at $43 a blow, pounce next up, morgan stanley, rallied a little bit after a report on thursday this is a flat out excellent quarter, ceo james gorman has been on a mission to transmit his investment bank, and more stable business with repeatable results. and that's why he bought both e grade, and advance this time, gorman showed us that even the safer more dependable mor dan stanley, this quarter is

firing on all cylinders, one more reason we owe for the travel their wealth management, investment management businesses saw a combined $250 billion worth of inflows that's how you grade this company, by the way, inflows, over the first six months of the year this is now the most expensive bank stock that's for good reason it's close to risk free as you can get with the large bank, more of a fee generator. that's why when it was down today, third, this is the toughest one goldman sachs, sold off in response to one of the greatest quarters, headline numbers were jaw dropping, $15 per share. wall street was looking for ten. much of the beat came on big gains on equity investments. investors don't care about that because it's oneoff. they seem to have a oneoff every quarter which to me empirically means they're not oneoffs, they're just good. nearly every business came in better for goldman, even fixed income currency, commodities

trading. what was the problem goldman's investment banking had the second best quarter ever when was the best one, the first quarter. in other words, it looked like goldman peaked in the first three months of the year i'm not sure that's the case they had very positive things to say about the backlog, but it's the impression wall street came away with. now that the delta variant has everyone worried that the whole economy has peaked, that lends credence to investment banking, goldman trading at less than seven times earnings i thought the antitrust division fueled by president biden could hurt them. they're a great m and a adviser. here's the one i regard as a quandary, citigroup, a turn around story like wells fargo. and unlike wells, it hasn't given us enough reason to believe the turn is real citi's headline numbers were better than expected without a reserve release, they would have been disappointing. right now the company has a real problem controlling its expenses that's only going to get worse as they raise sptheir expense

forecast cheap stocks can always get cheaper. ask people in the steals, my advice to new ceo james frasier, this is the perfect time to buy up lots of stock now that it's so inexpensive, and communicate your plan to the shareholders after next up, the one everybody loves, that makes it very difficult, j.p. morgan, the problem with this one in a nutshell is that j.p. morgan is a straight a student it just reported an a quarter, the big source of strength came from their episodic businesses, while the more consistent ones with asset management weren't as strong i have tremendous confidence that jamie diamond and his team. this is a tough market for the banks, and doesn't help while the best operators stumble i'd still rather buy morgan stanley, and wells and finally there's a one that a lot of people didn't like. i have a thesis, they reported a big earnings beat, driven by a huge reserve you have seen that pattern, sales come in, the worst bank of america's most important business, consumer and business

lending, it is too, as it's global markets division. the key metric for the financials came in when we could have expected, too, i think it's going to be a floor. bank of america is the most sensitive interest rating, and the recent collapse in bond yields made it more difficult for them on top concerns about rising expenses, and all of that said, the one hand over fist that you believe the fed is going to raise interest rates anytime soon. that was the thesis ten days ago. here's the bottom line, some of the banks have compelling stories here wells fargo and morgan stanley tell the best stories. after today's melt down, you have to worry there may be just the best houses in the dangerous neighborhood hey, i want to go to anthony in illinois >> hi, jim >> i own shares in upstart holdings and i'd like your opinion whether to buy, sell or hold upstart. >> the goldman sachs. >> i want to also thank you! the goldman sachs buy recommendation last week was so

compelling that i felt you know what, i've got to do a piece about upstart. that's how good upst is, and i think the short is going to be dead wrong i wish the meme people would pick on stuff. up start is a good one i think i'm converting them by endlessly trashing them. wells fargo and morgan stanley have compelling stories. this is a tough market for the group. interest rates, beyond yields drop, dragging banks with them, as i told you, could the decline be a buying opportunity. fhn, first horizon, areas booming, and then i'm pointing out the problem with peaks and highlighting the areas in the market and all of your cars rapid fire in tonight's edition of the lightning round so stay with cramer. ♪ ♪

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just over a year ago, first horizon, the tennessee regional bank merged with louisiana's iberia bank, and for the next ten months the stock was unstoppable, from $8 and change to $19 in june plummeting long-term interest rates, resurgent covid worries caused by the delta variant. just as important, the headline numbers came in better than expected when some looked underneath, they saw a challenging environment for the banks. is this stock worth buying on today's market melt down let's check with brian jordan, the president and ceo, learning more about the quarter and the outlook, mr. jordan, welcome back to mad money. >> thank you, thanks for having me. >> i've got to tell you, i'm mixed emotions about first horizon.

i thought it was a great quarter and what i care about is loan growth, and you went over and over that loan growth is good. some of these analysts, raymond james analysts saying that you may have another step down on the income outlook i'm trying to jive this notion of what the income outlook looked like. the latter is more important >> absolutely. we've got two forces that are sort of working against the banking sector right now one is obviously low rates and the other is the absence of strong loan growth in this economy. it's partially a function of the significant amount of excess cash or liquidity sitting in the system, and it's really, i would say, a little bit about the reluctance of the hesitancy to continue to invest or growth as the pace of the recovery is being affected by the delta variant and things of that nature as well as some of the uncertainty around fiscal policy, what's going to happen

to returns and tax rates, capital gains rates, things of that nature. as we look at our business, we're seeing strengthening loan pipelines, may and june continued to strengthen from the first part of the year we are very optimistic about later this year seeing loan growth, but a lot of excess liquidity in the system has resulted in the lot of loan payoffs. and that's driving a lot of what we're seeing today, sort of moving sideways. >> and that also is this mortgage warehouse business that people have really kind of turned against in the stock market whether it be rocket or uwm. people just decide that business is over. is it really over? >> i don't think it's over, and in fact, the ten-year treasury taking another leg down like it has today is probably going to spur more refinance activity in the second quarter, 40% of our volume in the mortgage warehouse business was refinance activity, and we think we're going to see a good bit of refinance activity and purchase

money activity in the back half of the year. in fact, our outlook, to your point earlier, loan growth is going to be bolstered by what we see and developing in our mortgage warehouse business, which is for higher balances. >> one of the things that was upsetting for me on the call was that you'd bought this great bank iberia, bank, it never even came up i mean, honestly once you got down there, didn't you discover louisiana was a great state for lending? >> yes, in fact, if you look at our pipelines at the end of june, 1st of july, the louisiana is one of our strongest states, texas, louisiana, south florida, atlanta, we're seeing very good growth opportunities in the markets, and as a result of a merger, and so we're very very optimistic about what the merger will bring to us, and the other thing that sort of got lost in the call, we didn't get a lot of discussion around is we've got a pretty strong tail wind in terms

of additional cost savings or expense efficiencies to come we're at about call it $92 million annual run rate in the second quarter all the way to 200 million by this time next year and we've picked up already $20 million of annualized revenue centers, and we think that's a fraction of what we'll get. we see plenty of tail wind and the merger of equals with iberia bank is going to be a big driver of the next six to eight quarters. >> people didn't seem to care. you're moving into an outfit that i like, encino. to me, it's the way that you speed up everything. iberia bank was a great customer, and you're going that way, would that lead to considerable savings, ultimately sfl s >> yes, i think it would do two things, lead to savings and give a better sense of how our work flow is processing it will give a better sense of where there are bottlenecks in our system it will be better service for our customers, faster service

for our customers, and ultimately it will be lower cost so there's a lot of technology encino is the first real example of it, but there are other real examples where we will make investments in technology, doing them in this merger integration that will give us a much more efficient system in the future and a better service and product set for our customers. >> now, are you still seeing tennessee, people escaping from the high tax states like new york, new jersey >> yes, tennessee is still benefitting just like florida, and georgia, and we're seeing an influx of people into the south. it's been very very positive, and we will continue to see that middle, tennessee, is a perfect example. you see a huge number of relocations there in just the last 12 to 15 months we think the attractive policies or particularly around right-to-work taxation, et cetera, are going to be really really positive for our 12 state

footprint. >> yeah, i mean, i think that people forget that you must have a real influx into your area we see the outflow, and these are people, they need to do a lot. they got to buy a home maybe they buy another home, they tend to be wealthier people they're good customers, correct? >> that's correct. you're seeing a lot of good customers. they tend to be wealthier. you're seeing a number of businesses come along. i think it's going to be very very positive. when we announced our merger, jim, we were looking at something like 2 to 2 1/2% faster household growth rate than the u.s. average as a whole, and that was in november of 2019. that number in my view is going to be significantly higher because of the demographic shifts that you're talking about. >> yeah, that's why i think behind your bank the hole way has to do with demographic, and being well run brian jordan, president and ceo of first horizon, fhn. thank you so much for coming on the show >> thank you for having me

>> people did not understand on this conference call that there is just a remarkable amount of new business that's going to tick up in states that are growing. you heard it, it's louisiana, it's texas, it's south florida, it's also alabama. these are great states to invest in "mad money" is back after the break. >> coming up next. let's bring money together, what have we got. >> cramer is bringing the thunder and answering your burning questions in today's edition of the lightning round experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity

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round. are you ready, start with ryan in mississippi ryan. >> what's up professor cramer. >> not much. how about you chief? >> nothing much, got a quick shout from my financial adviser woody odom i told you in may about a stock, and you told me horse bent, and has since run up $10 a share, and the past week or so it has dropped like a rock. my stock is academy sports is outdoors. >> i'm telling you, i still like it they reported a whole bunch of good lines give me a break, i'm a buyer campbell in delaware campbell. >> jimmy choo let's go birds. >> you bet ya. come on. we've got a good receiver. what's going on? >> as we approach these quarter two earnings reports, what are your thoughts on sherwin-williams stocks.

>> costs are too high, i am concerned. i no longer think you can buy this stock until we see the raw costs come down, and then i will feel better. david in new york. david. >> booyah jimmy choo, what's going on >> just hanging out, growing a lot of cucumbers, and making pickles, what's up with you. >> that's awesome, i'm from brooklyn, new york, and calling today about stock sofi. >> it should be done going down soon this thing has been a nightmare, and 15 bucks, i'm a buyer at th 14 level i'm going to rick in illinois. rick. >> hey, big jim, booyah from shytown, thanks for taking my call quick question on ge, was acquired 2004. 2000 shares at 29 bucks, it's now between 12, 13, 8 to 1 reverse split, stock split is

coming up. >> i don't care where a stock came from. i care where it's going from i don't think ge is okay i don't think it's great it's just okay and i say that because there's a lot of good businesses and real bad ones cameron in colorado, cameron. >> booyah, jimmy chao. >> i got a question for you. i picked up this stock right before memorial day hoping to be a part of the reopening play, and since then it has unfortunately just gone down so i was wanting to get your opinion on if this is a buy opportunity or a cut and run opportunity. i'm asking about cisco. >> which kind? ticker symbol syy, the food distribution. >> oh, man, that is such an opening stock, and you got a doubter there. now, the good news is the guy who runs it is real strong the bad news is that the restaurant business is going to take a little header here, so i'm going to say no to that, and ladies and gentlemen, that is the conclusion of the lightning

round. >> announcer: the lightning round is sponsored by td ameritrade coming up, no peeks, cramer pulls no punches on a buzz word that could portend portfolio problems next i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪

today we need to talk about one of the most brutal terms in the stock lexicon, peak. peak means you're too late peak means it's other. sell now or forever hold your peace because it's only going to get worse from here. that's today's theme i don't like the traffic in peak talk i don't want to get near it. my travel trust where i make no money and give the capital gain to charity i steer clear of anything that looks like it could peak this month we have seen so many peaks, it's like the adirondack high peak region these are all from the biggest decliners in the s&p 500 and nasdaq for the last quarter. first peak, china, when you see the rollover in pin duo duo, which the the second rate chinese amazon or chinese google, that suggests we're doing with china as an investment thesis. when the communist party,

decided to crush the american shareholders, that was the last straw. america had been a fantastic place for chinese businesses to rip off unsuspected investors but after the didi fiasco, nobody wants to be the next mark chinese traders are considered guilty until proven negligent. there's too much easy money for them to make they will engineer the next few. only a fool would trust the people's republic of china with their money. someone should remindchairman xi that his company is communist, he keeps going after big business second peak, semiconductors, the time line semiconference call made it clear the chip shortage is over. amd micron, got hit hard this month, i got to tell you, they did rebound dramatically off their lows don't get me started on nvidia which closed weak, and closed 3.41%. these stocks have been hit forever. it does seem like t. they have

been awful they're starting to bounce that's the wait it works full disclosure, nvidia, taiwan set me has it wrong about the chip shortage. it's is not over we're looking at a pause in growth there's tremendous demand. wall street got too bulled up. you've got my blessing to pick one. buy right here i prefer a and d, intel screwed up royally, with the decision to buy foundries a chip manufacturers that competes with taiwan semis we will simply cancel intel's orders it would be a splashy but ill advised move third peak oil down 8% i warned you about this last tuesday when we highlighted car lee garner's chart work, this is the top. the whole group is collapsing, marathon, occidental, diamondback, hallbergers got recommended today signaling the end of the oil rally, something that was inevitable after the opec plus agreement. i doubt there will be a decline in crude, we're an equilibrium,

but they have found the ceiling. they don't want it going over 70 american producers start pumping furiously in the permian basin there's the ate parent peak in leisure and entertainment dragged down by the cruise lines, casinos and disney. this is about the new covid variant. we're scared of the pandemic's delta force. on average, one person with delta variant infects eight to nine others. i don't like those odds. we know we're lucky it's only making most people increasingly sick, not killing them the worry is once the outbreak gets out of control, there will be more and more breakthrough infections where people who get vaccinated get sick which feels increasingly unlikely given that vast swaths of the country have refused to get vaccinated. thanks, buddies. it feels like our country has been taken hostage by the anti-vaxxers, you either get vaccinated or get covid, not a place to speculate i got to tell you, vaccinated or covid. it also means people won't be traveling as much, just when oil ply is increasing, the break down in travel, entertainment and the oil, there are peaks and

valleys, and peaks again i think the semis have the best chance of climbing back but the travel, leisure, and oil stocks could be headed fora real crevasse, a very big valley. i like to say there's always a bull market somewhere and i promise trying to find it just for you right here on "mad money," i'm jim cramer see you tomorrow, "the news with shepard smith" starts now. seeking solutions to the rise in crime in america our special series of reports begins this this hour. plus the delta variant contributing to rapid, disturbing covid surge i'm shepard smith. this is the news on cnbc >> the worstday of the year fo the dow jones industrial average. >> financial markets tumbling. stocks sinking today wall street joins a global sell-off, pandemic fears fueling the downturn >> we are seeing this concerning spread because this is the most contagious variant we've seen yet. >> reporter: new questions