95 i am sticking with that one. >> guy >> a tip to the guy in utah who says h 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 people want to make friends. i'm just trying to make people money. call me or tweet me. on a day when we shrugged off the fed's taper announcement, dow gaining 100 points and

nasdaq jumping 1.04% you need to understand that this is a market where the tail can, indeed, wag the dog. where what's happening is more important than the company itself i created the acronym fang in order to capture that. fang because facebook, amazon, apple, netflix and google. the home gamers kept buying it, making fortunes even as the big money people on wall street remained skeptical at one point all these stocks were being too big, being a code word that means something rallying because of dumb money wall street speak for you. yeah, regular investors, you

i often share your enthusiasm for most stocks were pros denigrate. they're betting against your instincts. you have a whole cottage industry of experts why they would never, ever turn a profit no matter how much you like their services and products. no matter how much you pay many of these so called professional money managers were too skeptical. they thought the companies were run by dreamers with their heads in clouds when in reality they were ruthless business men who also happened to be positioners. today both companies are incredibly profitable. they've never been held to account. that's what we do here then tesla came along. that's one of the greatest stock stories ever told. this is a company worth $1.2 trillion when you lump them together, they're not worth a fraction of tesla.

maybe it's not so much a car company. every step of the way you heard tesla's valuation was divorce from reality you can't justify that market capitalization on the basis of the numbers. you can only justify it on the basis of vision. if electric vehicles are indeed the future of the auto industry and tesla is the future of electric vehicles, then $1.2 trillion might not be a stretch. i find it as free thinking and rigorous which brings me to the events of the last 24 hours where canny individual investors have reclaimed the values with the aid of some shock-like hedge funds which smell the blood of short sellers in the water this is watershed stuff. this was seminal in the way it went up and today we got an amazing run in bed, bath&beyond.

now a huge part of these gains is similar to what we saw with gamestop and amc take a look at bed, bath you can see what i'm talking about you saw these in amc and gamestop in january. this is the parabolic move where i'm saying these are watersheds. you don't get these in normal markets. that's why we're addressing them there were tons of short sellers betting against this and betting against avis they were against the trade in favor of you that forced the short sellers to buy back stock in order to close out their ill advised positions. large hedge funds realized you were going to take this stock up so they decided to crush the hedge funds and it worked. now in the case of avis, rental car company, they earned nearly twice what wall street was looking for. in the case of bed, bath they

announced a joint venture between bye-bye baby and kroger. bed, bath also celebrated its buy back dramatically. i bring up these two because they are fantastic illustrations of how the mechanics of money management can impact individual stocks and about the change for this environment hedge fund managers often have a huge disadvantage in a bull market like this many of them have no choice but to run what is a balanced book, balanced book. meaning long positions and short positions, what they own and what they sell against should be even basically the clients use them in the hedge fund. in other words, there are tons of hedge funds that have to short stocks it's in their charter so to speak. even the fabulous bull market they need to find something to bet against. they're always looking for targets shorting the uneven bed, bath & beyond against a macy's, costco which had fantastic numbers. these guys, they did have

horrendous management before mark came in last quarter was horrendous for trickle. they had the wrong promotions. the short sellers made one mistake. they forgot about shooting against the short sellers any time they got too crowded. that's why bed, bath & beyond finished up more than 15%, at one point it was up 50%. if you think you're shooting fish in a barrel when you go after these companies, you may not be the guy with the gun. buy bed, bath & beyond on this pull back. it should be good. the kroger opportunity is too big to ignore. i've got the shorts unfinished covering avis, lots of money managers wanted a piece of hurts but it's

a balanced book to protect you from the down side when they went long hertz they got shorted. the stock exploded now what matters here is what didn't matter, and that's the traditional valuation metrics that so many money managers come on the air and tell their investors what really matters. should avis have added $10 billion. no, it shouldn't have. should bed, bath run like this i tried this and they wouldn't take the bet no, it probably wasn't but at the end of the day these stocks are like gamestop and amc. at the highs of the day they did divorce themselves from the

fundamentals it happened. now maybe the better comparisons are netflix and amazon which is in the face of heavy shorting even though the valuations are totally unjustifiable until many years later. they were about superior bruisers i don't think anyone honestly believed these stocks deserved to trade as high as they did early last year. the buyers took their cue from clint eastwood there were simply too many short sellers and the surrender set the stocks in the stratosphere this is the revolution this is people who typically have not owned stocks, they come in, they buy them up and causes short sellers to capitulate, which is probably right here and then the short sellers probably come back at the end of the day. they're about to get hit again there will always be shorts that go awry. look at this one, there were a ton of short sellers that got

steam rolled in heeste de lauder it was a good quarter. the hedge funds bet against it because they figured the chinese business would be hammered not unlike nike. that turned out to be a myth i see the fingerprints all over this a company is worth every penny, moderna. every step of the way. that one hurt to watch because the bull thesis was so irresistible they got a bull vaccine, we got a pandemic why would you bet against that might as well punch yourself in the face the bottom line is individual investors have realized they can destroy the short sellers. they know they can pressure the shorts and force them to capitulate whenever they crowd into a stock and a bunch of short sellers go en masse and will indeed cause any stock to

do what this did that created situations like avis, bed bath, created gamestop, amc and we'll see many more of those until hedge funds learn their lesson, stay away from crowded shorts. brian in new jersey. brian. >> caller: jim, we have a company that's been in business for close to 100 years they have a great product line which is ipo earlier this year the stock has gotten crushed i love their snacks. what do you think about the stocks, utz. >> they did not have a good quarter. did not have their costs under control. they needed an environment where they didn't go up against lays they don't have the scale to handle the costs that went up. i'm going to do a piece about what's known about scale and price later this week that can be -- thank you for bringing it to my attention, brian i can use utz as an example. i think we're going to see many more stocks like avis and bed, bath not unlike what happened to

amc and gamestop earlier in the year until hedge funds learn their lesson and stop shorting the same stocks over and over. individual investors like you can destroy these guys if you want to. on "mad money" tonight, notable ceos have made it on the wall of shame. tonight i am, indeed, adding a new name to the list wing stop fell after missing the third quarter. i'm getting to the third quarter. and there's no business without a planet to do business on i'm talking to the one and only jane goodall who is on a mission beyond primates to save our earth through her focus on planting trees so stay with cramer 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 miss something head to madmoney.cnbc.com. hey businesses! you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing customers our best deals on every iphone, including up to $800 off the epic iphone 13 and iphone 13 pro. the best things america makes are the things america makes out here.

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the federal reserve has started to taper bond purchases something that will be likely higher what do you do with the dividend stocks 3.2 million natural gas customers, half a million gas customers in the mid-atlantic. they reported a robust quarter with good guidance and the stock rallied more than 2% they sport a 3.5% dividend

yields the payoff can't be the only selling point, right this is why i wanted ni source on esg. yes, over the next several years they're ramping up investments in alternative energy with the goal of reducing scope on green emissions, get this, greenhouse emissions by 90% by the end. that's what we're looking for on the show we have the president and ceo of ni source. mr. hamrock, hello. >> pleasure. >> people must be at the center of a sustainable energy future what do we think people should be doing to be at the center of it >> you said it it's really about the transition that we're in. as we look at the opportunities that lie ahead, we're well down the path already at ni source as you noted in your opening comment, a plan that's already

underway that will deliver 90% reduction in greenhouse gases from transition away from coal to renewable and clean energy sources. the real key to sustaining that transition is to keep people at the center of our focus. those being the people who dedicate their lives to this industry, to delivering for our communities, the american work j workers who are so critical to the transition and so critical to the future of energy in our country and the people in our more vulnerable communities who need to be carefully treated as we navigate through this, communities that can be left behind if we're not careful. that's the key to sustaining this we're right in the middle of that as we speak. >> i share your vision, but i do look at the states that you're in made a great acquisition a lot of states don't have a lot of sun and not all of them have a lot of wind.

what do you do when the elements aren't in your favor >> yeah. so storage is a key part of the answer here. as we think about the transition, think about how energy supply rises and falls as people use -- needs to rise and fall as people use it throughout the day and the sun may or may not be shining wind may or may not be blowing as you pointed out storage plays a key role in that more importantly, this is a key insight that we have from operating electric and gas utilities across six states, it's really critical that we coordinate the energy systems, electric, gas, and the transportation systems to make sure we deliver on america's energy needs in the future and think about the gas system, america's gas infrastructure is a tremendous benefit for this transition because of the capacity that it provides and the storage capabilities it provides all of that, multiples with what the electric system can deliver. so we've got to coordinate how

we transition through this and leverage all of those resources that are available to us bringing renewable natural gas in that comes from agriculture, waste to make sure we leverage that provides a better transition, more affordable, more reliability and more resilience for energy infrastructure and can deliver better environmental benefits in a coordinated way. >> now i hear you. i favor that in reducing greenhouse gas emissions by 90% by 2030 i look at the states we think this is in kentucky that's a coal state. pennsylvania, oil and gas state. i don't necessarily look at ohio, they're used to coal i don't look at the regions and think, you know what, they're all necessarily rolling on this -- in the same boat, are they all rowing in the same direction?

>> no. there are many different visions on the pathways to drive a clean energy future and, again, i think what we share in common is the abundant natural resources and the infrastructure to deliver those resources. the territory that we serve has long been a natural resource basin for america's energy production from coal historically to natural gas with the shale regions. think about agriculture and renewable natural gas as an energy resource and we have abundant resources there as well by blending those together, coordinating those we can deliver a much cleaner future, cleaner in the sense of greenhouse gas emissions, leveraging that infrastructure and relying less on supplies from around the world. we think we have a superior position to navigate the opportunity. >> when i did get on your web page, that's something interesting. you have partnerships with developers you have a substantial plan to build. your areas are some of the

tightest labor markets in the country, which i love. it's the wrong word. your areas are areas where people are making a good living. we have to stop thinking about it your areas are where wages are going up wages should go up, for heavens sake for the working person, but are there enough people to do the jobs >> that's a concern. as we look towards the future, this transition, we are having people being displaced from the legacy coal-based energy economy and retraining and new opportunities for them is a key part of the transition and it's important that we lay out a plan that provides time and support for american workers to make the transition that's a key aspect of what we're doing. we laid out a plan three years from now that are playing out over the next two years to make sure we have time to work through the transition and support workers affected by that there's a transition aspect of that but there's alsovery much a need to train the workers of the future and we think that provides ladders of opportunity

for our vulnerable communities and people who are not accessing the benefits of a tough labor market we see it as a net positive if we do it right and we do that in a coordinated way. >> i'm getting pressure to wrap but i have to ask this we have jane goodall, a huge believer of planting trees would you ever think of saying, you know what, people in our area, we will help you plant trees. we will match you if you want to plant trees? >> carbon sequestration is part of the answer. trees are a great way to do that many other ways to do that we think all of that has to fit together in a coordinated way that may be regionally differentiated as well certainly in favor of that >> excellent i want to thank you. you're doing the right thing, sir. we have our work cut out for us. thank you for being on "mad money." >> my pleasure. i think that when you want to buy a utility, you might do

two things first, you want to see if they're trying to get off coal because coal's the worst thing we have in our environment and then see how they're doing i never thought i'd ever take those in that order but i think that's the way to go "mad money" is back after the break. coming up, did the chicken cross the road and leave this stock with ruffled feathers? amidst a shortage, cramer is sitting down with wing stop to see what all the clucking is about.

i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! help me with scheduling? sure thing. up top. high thryv! payments? high thryv! promotions? high thryv! email marketing? almost there, hold on. wait for it. high thryv! manage my customer list? can do. will do. high thryv! post on social media? hash-tag high thryv my friend! get a free demo at thryv.com. how do you tell the difference between a temporary pull back and a far reaching decline? that's the question you need to ask whenever a stock you like gets hammered. which brings me to wing stop it's the beer and wings chain, a

not so hot set of numbers this morning. a top and bottom line miss sales coming in below 4% wall street was looking north of 5. guidance came in and in response the stock got clobbered, went down 10% had already come in below before the costs are high and higher wages. in wing stop's defense, this is a company with an incredible long term track record we've seen the stock pull back hard before. let's check in with charlie morici, the chairman and ceo of wingstop welcome back to "mad money." >> thanks for having me on today, jim. >> charlie, it's hard for me it was a $28 stop. there were things in the quarter that i know where what i'm going to call noisy, higher chicken

prices, labor issues overall i think it's hard to figure out what you should be able to do compared to two years ago, last year i didn't think it was all as bad as the stock would indicate but maybe i'm being too rosie. i think these costs can go down. i think wing costs can go down i think your labor costs don't necessarily have to rise am i too much of an optimist >> oh, i don't think so at all, jim. i think you're spot on wing prices are coming down. as of today they've already come down almost 40 cents a pound since their peak i think that's a good show that the supply is growing. that's going to start to rebalance things back to the levels that we saw before the pandemic and i think that's creating optimism not only for us but our franchisees we will weather this temporary storm we've seen just like years

in the past. the brand continues to grow. >> now are you going to keep buying stock even if wing prices go down? >> absolutely. it's a key part of our strategy. we want to use more and more parts of the bird. long term our supply chain strategy incorporates all parts of the bird. not just be reliecant on the sp market prices. >> i want to know this, has there been any cessation in people wanting to own wingstop franchises >> i didn't hear that. >> any cessation >> no, people want to own wingstop franchises. we had another record-setting quarter. development was up 13.1% over the prior year we anticipate that that will continue into the fourth quarter. we have a big pipeline ready for development into 2022 and

beyond i think it's a great time to be building restaurants >> i was in mexico city. a lot of people go to mexico city i don't think people know how big that city is you have a lot more cities you can be in than just that one, right? >> absolutely. mexico is our largest international market with over 100 restaurants, strong and growing on our way to about 200, 250 restaurants. we opened london in 2018 the u.k. market has become one of the best performing markets around the world the average unit volumes are exceeding $2 million on average in the u.k that's above what our average unit volume is in the u.s. we're on our way to western europe china is on the frontier the international business is booming back for wing stop i'm excited for the future. >> let's cover china there was mention in it it would be done with a partner, correct? not just on your own >> that's correct. yeah, most likely franchising is

not the right structure there. you work with a partner who can help you build that business and grow it. they know the market they know the real estate. they know how to navigate some of the challenges in that market it's been a success strategy for a lot of u.s. brands, probably the same for us. >> digital ordering still very successful in america? >> it's continuing to be very solid. over 60% with the big pizza players now. our delivery business has actually been rowing it grew year over year by almost 300 basis points compared to the same quarter where a lot of brands are starting to see that tail off wingstop is continuing to grow. >> one is a rebate of 6.9 million of advertising surplus and also last year you gave employees, they got a special i guess because of covid bumps in making it so year-over-year labor costs weren't so bad explain both, both the labor delta and the advertising delta. >> i'll start the advertising. we entered 2021 with a big

surplus on advertising dollars based on strong performance of same store sales over 2020 last year we split that tweern the two and have seen our comps continue to grow 29% plus two-year comps in the third quarter alone is indicative of the strength of our brand and our advertising. we found ourselves in another surplus situation. we worked with our franchisees and felt like we can give these back to the tight cost pressure times and put that to work in terms of development of new restaurants. so all in all i think that's a strength the labor crisis that's out there, it's affecting everyone it's affecting our business. we did pay a lot of retention bonuses during 2020 to retain workers in our restaurants now we're fighting some of the challenges and we're paying up we're providing a fair wage to our team members in our corporate restaurants and franchise restaurants. we recognize prices are going up and we're investing that in the

long term brand and we think that's going to continue to deliver great service for our customers as well as provide for our long-term growth strategy as a brand. >> one last question let's say i want to get a wing stop franchise would i look at the labor situation and say, you know what, this isn't like the way it was two or three years ago i'm a little turned off by it. my average unit volume per store has gone up enough that it would actually not hurt my bottom line if anything my bottom line can be increased >> i think we have one of the best investment models in the industry our average unit is $1.6 million. that's on an investment of $400 million. 4 to 1 as good as it gets the labor model is very efficient. we only require a roster size of 16 to 18 people on a roster. we can run a shift with as few as 4 and so while we're dealing with the challenges others are dealing with as well, our ability to bring new talent into

the business paying a good, solid competitive wage is within our reach, long term we all recognize this is the right thing to do for our business. >> as someone in the business, i wish i had the economics this is amazing, charlie you even go into how little your rent is versus the ones the rent i know i think things are very much in intact i'm glad you came on you came on in good and bad times. good to see you, sir >> thank you, jim. good to see you. the way you measure success isn't the way wall street does the way you measure it is whether the unit economics are still great so you want to have more i can't own these stores, i wish i could. therefore, the stock's a great investment "mad money" is back in two coming up, marc benioff is putting his skin in the game to

fight climate change but not without the help of a legendary friend dr. jane goodall joins the show with the lowdown on her latest initiative make like a trillion trees and stick with cramer.

if we could plant trees we will truly help solve the climate crisis it's that simple so here's the challenge, can we work together to plant a trillion trees by the end of this decade? we need everyone not just for the sake of climate, for the sake of all living creatures >> you might know jane goodall as the world's number one

primate expert but she's also a conservationist, darngood one too. hence this huge trees for jane reforestation initiative this might seem like an unusual topic for "mad money." i play a walking dollar sign on tv even i need to have a planet many business leaders have had the same realization like marc benioff at salesforce. they have set up this reforestation campaign i'm sitting with a truly iconic figure dr. jane goodall talking about trees for change the book of hope, a survival guide for trying times welcome to "mad money." >> well, thank you very much >> we are honored to have you and we are honored to talk about trees for jane i think people don't know, dr. goodall, what trees do for the planet and how important it is that we get on the case to start

planting trees i'm going to give you the floor to talk about trees for jane >> well, the thing is trees, forests, particularly forests, are one of the two great lungs of the world the other is the ocean they both absorb carbon dioxide from the atmosphere, one of the main greenhouse gases, and they give us oxygen and forests give us clean water, clean air. they help to make rain so they mitigate climate change. >> now in your book, the book of hope, which i think is just terrific and a must read for those who are trying to figure out their place in the world, you do talk about what are being done to try to -- what's being done to get a trillion trees and i was surprised that you talked about this at davos with a lot of business leaders. it seems like business is embracing trees for jane >> yeah. i think business is finally realizing that we have to do

something to stop deforestation and you know the co-founder of trees for jane, jeff horowicz, he started the deforestation company and we went to davos and talked to the business leaders because i think you'll agree, "mad money" should, that profit -- a lot of profit should go back into healing the environment that we have so destroyed, a lot of it because of business. >> well, you do talk and in your fine, short video it is profit, it is greed that is chopping down the forests as fast or faster of course than we can replace it, but i know that you've had some good discussions with marc benioff from salesforce and also enrico lorenz who have very much embraced your cause. >> absolutely. both of them have helped make trees for jane a possibility and it's people like that that

we now need to step up to the plate. and i think the bits of good news in cop26 that i've heard is that there have been major pledges by a number ofcountrie to put money into reforestation and prevention of destroying of the forest, which is really, really important >> now i want you to just -- i love the concept of hope and what it means and i'm going to deviate a little bit from the "mad money" format to say could you talk about those two trees in nagasaki and what they mean >> oh, well after the atomic bomb was dropped after world war -- that ended world war ii, then everything was -- i don't know if you've seen pictures, but absolutely desolate. i mean, there was nothing left but there were these two trees and they somehow survived and they somehow grew and i've seen one of them in nagasaki and it's

sort of got a great hollow and black inside but every spring it puts out new leaves. you know, there's another one right in new york where the twin towers fell that was buried under several stories of one of the towers and it emerged. it was rescued and from one root and one trunk and one branch it's now a beautiful tree. >> what this means to me is that the cause is reasonably -- we can win. we can win because trees themselves are social beings, that trees have tremendous ability to resurrect themselves but we have to plant them before they do that i understand there are also people all over the world, not just governments, not just corporations who are embracing the cause. just plant one tree, plant two trees and it will make a difference >> yes if you plant the right tree,

preferably an indigenous tree in the rightsoil at the right tim of year and look after it, you can't pop itin the ground and say, i've done my bit, this is going to grow into a wonderful tree it might ten to one it won't. you have to nurture it one of the very important things is bringing trees into urban areas. it's got many, many benefits and it brings nature into the city it's been shown that time and nature actually is good for a mental and physical health. >> now when you were an advocate at the glass gee cop meetings or in davos, do you explain to people in a profit/loss way that if they don't plant trees then many of their forecasts for 2025, 2030, 2050 that these corporations routinely make may prove to be routinely false

because we don't have enough trees? >> yes, i know i know we've just got to keep our trees growing. for one thing, you know, they're extremely beautiful, to me anyway i fell in love with a tree when i was a child in my garden, and this is where i'm speaking to you from the house i grew up in and out there through the window i can see that beach tree. it's much bigger now, but it's even more beautiful. so i've loved trees ever since i was very, very small >> i mean, a lot of people know you as a lover of chimpanzees. i think they might not understand that trees have been a cause you've embrace aed for a long time. when i had dinner with marc benioff, he was talking about saving the oceans, you said how about the trees? and it resonated because of your long-time love of the trees but also because there are meetings now, i don't know if you're getting much hope from what's happening in glasgow right now that seem to indicate there's going to be success with trees

for jane.org. >> well, i sincerely hope so i think many people love trees and many people are feeling helpless and hopeless because of climate change and also biodiversity, but when you actually do something to make a difference, it gives you hope. i mean, it makes you feel good then you want to do more of it but, you know, one thing you said, yes, the corporations, greed is cutting down the forest the other thing is property because if you're really poor and your family is growing and you have over used your farm land, you're going to cut down more trees to make more land to grow food to feed your family or to make some money from charcoal or timber. so alleviating poverty is really important, as well as bringing business, corporations in to the fight to save our planet for future generations. >> we're going to leave it at that, dr. goodall.

thank you for coming on. we're all supporters of trees for jane.org and we'll try to plant as many trees as we can. thank you so much for coming on "mad money." >> terrific. thank you. >> we'll be back after this break. coming up, a storm is coming so give us a call. cramer's got the answers to all your burning questions the lightning round is next. when the only thought on your mind is “finally” this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. wealth is breaking ground on your biggest project yet.

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it is time it's time for the lightning round. and then the lightning round is over are you ready, skee-daddy. susan in illinois. susan. >> caller: hi, boo-yah, jim. >> what's up >> caller: i bought nano dimensions and i bought it for $14 and some change. should i stick with it >> i'll just say this. i do not like the 3d printing business it's a faddish business. people ignited with dvd. i don't have much hope nick in georgia. nick. >> caller: hey, jim. >> nick, what's up. >> caller: should i buy now for a long term play in xos? >> oh, boy you know, mobility solutions we've heard people in these. we got excited about them like everybody else and we couldn't make money for you so i'm going to say no. val in minnesota

val. >> caller: hey, cramer i've been digging deep into share care since jeff was on your show. they seem to have solid leadership, well past names like t doc and amwel. volume and media coverage has been lower than expected >> a blowout quarter they need to get a dip back to 10. you have to see the quarter first. that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by t.d. ameritrade coming up, hot, hot, hike. make sense of the day's most critical market machinations in no time. stick with cramer for a no huddle next.

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iphone 13 and iphone 13 pro.

hubris, arrogance, stupidity. those are the words that come to mind when i think of zillow's ill fated decision to get into the home flipping business a few years ago. the same goes for the ham handed

way they handled getting out of this with one quarter of their staff. it's because of these three sins hubris, arrogance and stupidity that rich barton, ceo of zillow has earned his place on the "mad money" wall of shame it doesn't help that the stock has gone from 100 to 65 in a matter of days it's quite a dubious honor we don't bring it out very often. in 2017 zillow decided they had such incredible insight from experience and artificial intelligence into the process of buying and selling homes they might as well perform both sides of the trade that's why they described themselves as market makers of homes just like market makers of stocks they made this high risk endeavor sound like a natural core business. even though the core business is online advertising they fed wall street all sorts of clap chat about how they understood the real estate market better than anyone.

too many people bought this hook, line and sinker. not me i repeatedly warned you about how risky this move could be when zillow began to take its instant offers business to tell you, i came out here against the tide and warned you that they simply don't belong under the same roof. you said it was the old ceo, how long can i do this he sold this here's what i said in 2019, maybe rich barton can orchestrate a phenomenal turn around in zillow i'm glad he's running things again. i'm thinking this could prove to be risky there will be some brutal speed bumps along the way. >> in retrospect i should have been much more negative because now zillow is winding down this house flipping business and they're trying to sell 7,000

homes for a purported 2.8 billion. they called this a market maker but no market maker worth his salt holds on to that much without being summarily fired. looks like the historical insights and the artificial intelligence algorithms the company was using, they weren't up to the job. zillow is taking $569 million of writeoffs. rich barton said yesterday, the business was too risky, too volatile to our earnings and on perfect races and it had too low of an equity opportunity if somebody had warned him about this years ago oh, wait, i did so, repeatedly no wonder five different firms downgraded zillow from buy to hold what makes it so infuriatinfurih

treated us like suckers. he was very apologetic on the show he was incredibly reassuring about the previous house flipping and yesterday he said fundamentally we have been unable to predict the future pricing of homes that makes this a safe business to be in and in august he said, i confess to being excited by how well zil lows is doing in such a hot sellers market then he added i'm comparatively more confident now than i was in a quarter ago. it feels good to me, end quote the nerve of this guy. he was feeling real confident and then yesterday he said the business had been more volatile than he ever expected possible we knew about the pandemic in august we knew about the material shortage in august we've known housing is hard to predict since 2007 how quickly do we forget by the way, when i say we, i mean zillow. this whole shameful affair has

left me thinking that rich barton has to go when that happens, i will gladly take him off the wall. until then, rich, enjoy your stay you deserved it. i'd like to say there's always a bull market somewhere and i promise 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 republicans deliver a political shock wave the take aways from last night's thumping i'm shepard smith. this is "the news" on cnbc virginia, we won this state! >> the republican newcomer knocks out the veteran democrat in virginia, and in new jersey a red streak hits a deep blue state. the historic election night and what it means for both sides in the mid terms and beyond the new claim about the alec baldwin movie shooting. >> who would want to