>> selling puts on apple. >> karen >> thanks, brian zillow, i like the news. >> guy >> you're so far away, brian, but best buy is so close. >> i love it carole king, you're the best thank you. thanks for watching tonight. "mad money" with jim begins now. my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you some money my job is not to just entertain you but to train you and teach you so call me or tweet me @jimcramer. sentiment will be hard to fathom but it's essential if you want to predict the market's next

move for example, today's stocks might have sunk us now this time surging 618 points s&p pole vaulting 2% i talk about sentiment i mean what's the market's mindset? sometimes it's about negativity and exhaustion >> the house of pain. >> other times it's about house of pain. >> other times it's about pleasure. >> house of pleasure. >> today they come down from their highs, it doesn't matter how bad the omicron strain seems to be. we don't want to hear about it they were willing to shrug off the second omicron case. yesterday it was eviscerated we'll be hearing many, many, many more infections investors seem to accept this as

a new fact of life if this turns out to be worse than delta, then we'll look back with today's bullishness as a temporary condition of insanity. still, the first sentiment's factor pretty straightforward. we just had too much there just was stocks were overly heated which made it easy for them to rally once we got a few bits of good news a great quarter from snowflake, good news from crowd strike. secondly, there's the over sold factor sometimes stocks go down so hard so fast that they'll over shoot and bounce there's a way to measure this. i follow the standard & poor's proprietary oscillator for years. it has a baseline of zero. as it goes up, that means the market is bullish or if you want to be pejorative, euphoric

when it goes to plus 5 then you're getting into extreme over bought territory and what you have to do is lighten up a little that usually means you're in -- traders do that. we do that for the investing club product it very rarely gets there. even though the oscillator will no doubt start rising, it will still be in negative territory because it's a measure of accumulation of days there's no danger it will come in over bought tomorrow. we're still badly oversold

we're still okay that's not the only way to measure the level of fear in the market we have vix for short. for a matter of days the vix soared from 17 to 31 where it was last night they call this the fear gauge. a high vix like we had yesterday coupled with an oscillator reading can make up for a ton of bad news when it's negative you can see some truly wild swings in individual stocks. normally you would have expected a lot of enthusiasm. no, they were too scared they were under the desk we got tepid buyer reiterations. the prices started to cut and that's the pessimism i'm talking about. by the way, it's not worth listening to sure enough when sentiment turned today both stores roared. when you look at opta, you look

at crowd strike, we're talking about those, what will happen is tomorrow there will be people who raise price targets. why? because people want to get involved again they wanted to shy away, now they want to be in the other day with salesforce.com people wanted to shy away, now they want to be in marc benioff gave you a modest forecast due to the rapidly strengthening dollar on a more positive forecast, salesforce would have been given the benefit of the doubt no one cared today the stock's come roaring back 10 bucks and i'm starting to look smarter. payments was a once love sector because it is little risk.

periodically it gets into a slump. it's up ending the credit card industry with the buy now pay later platform the idea that they could be fell by a $32 billion outfit, but when the market is full of negative sentiment it's easy for investors to believe the worse how bad did things get let's take the most cogent example. we had dan schulman tell us on the show and tell us about his own buy now pay later and he has huge digital wallet technology you have the modernization of venmo. i thought, wow the market said, ugh paypal had plunged from 310 to 180. maybe it was an ugh at 250, but 180? final segment indicator, how about ridicule

ridicule yeah when you own a stock and it goes down, down, down, you're subject to ridicule. i'm subject to ridicule. might not be universal, but i took the hit so you don't have to i got hit every single day for holding bowmeing china came in between 5:45, 6:45, bingo, stock flew up from 188 to 220 it's not done. when the market is over bought and you get that, normally you would sell boeing. i think tomorrow people buy it you get rephis, target price boosts don't forget honeywell and general electric both stocks can rise on this chinese news even if it doesn't

translate to word. sentiment is a fikle beast after today some people will sell stocks because they feel that they have gotten lucky. what you need to consider is many people are waiting for the selling to stop. we had a disappointment in numbers from docusign. higher prices could be in the cards for the down and out stocks that have suddenly and incredibly despite the omicron backdrop been given a new lease on life. david in new york. david. >> caller: boo-yah, jim. >> boo-yah, david. >> caller: first time caller, long time watcher. uber continues to expand its reach into food services, can anybody ba, and now a him and

hers delivery partnership. they have been beat up is now the time to get in one or is the space too volatile? >> thought about this. came out with a huge price target for uber. i think uber did get too cheap it's at 38 does matter. i think it will go to 45 uber is a trader stock and no more right now steve in minnesota steve. >> caller: hey, jim. it's steve from bloomington, minnesota. i'm calling about five nine. you had the ceo on the show a few weeks ago and i thought it sounded intriguing but since i bought a few shares as astarte it's taken a big plunge. should i keep holding or should i buy some more? >> i would keep holding. five nine, look, these stocks -- it wouldn't matter which one you bought these were all trading as a cohort it got hammered. the company did much better than expected long term we have to check about

that technology but right now for the next year i think you're fine michael in california, michael >> caller: hey, jim. how are you doing? >> i'm doing well. >> caller: i'm doing well. i wanted to thank you for providing good advice for the last two years you have been conducting awesome interviews as i continue to get my mba. >> thank you young person getting your mba. i have to salute you. >> caller: i have a question for you. as of yesterday amc had a pull back of 15% while cinemark had a 2% decline yet volumes for amc are significantly lower than similar larger directional move that occurred in june or july. at the same time amc per the press release had the biggest day of sales for ticket title and the second biggest title for spider man no way home due to yesterday's draw down with amc's price crossing the 200 median average, it would

seem like a good buying average. >> the fundamentals are -- they're fine the technicals are not good. there were people who were unhappy to see insiders selling. there's a cult or cohort of people who own amc and they're horrifying the stock is going down they will keep the bulls near. that's what they do. it's not what i do, it's what they do. adam has done a good job of keeping the balls in the air gentleman higher prices could be in the cards for the down and out stocks that have suddenly been given a new lease on life because of the suspension of negativity for now crowdstrike bounced after reporting a top and bottom line beat for the third quarter i'm seeing if the company can continue to defend itself from the bears with the ceo all birds have gone to market. see what you can make of all of that selling and cigna has soared today

are people getting a buying opportunity in the jewelry kingpin? i've got the company's top brass 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 call us at 1-800-743-cnbc miss something head to madmoney.cnbc.com. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity.

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buy high quality products. take crowdstrike three weeks ago it was at 298. crowd strike stock fell to 201 yesterday. that was 100 points. crowd strike did nothing wrong they reported here's business booming delivering tremendous sales. it raises the forecast substantially. the stock jumped nearly 4% i think crowdstrike would have rallied a lot harder in a better environment. let's check in with george kirk. the co-founder and ceo of crowdstrike. welcome back to "mad money." >> thank you, jim. >> i got a copy of "fortune. crowdstrike on fortune 500 list. can you tell us what that means? >> it points to the future

growth and opportunity and the performance we put up as a public company when you think about the space that we're in, you think about the environment and how important it is to protect customers. it's no surprise that we're number one in that and we really focused on execution and protecting our customers and i think it's great recognition for us and certainly for all of our crowd strikers. >> did this also have to do with a couple of things in our discussion the net protection level explain to people what that means. >> a big part of our model is being able to cost sell into our customer base. we have 27 modules on our platform a big part of our success is getting into a customer with a few of the modules and then being able to cross sell into those. we've got 66% of our customers at four more modules essentially what we've talked

about is achieving greater than 120% it means that we're selling a lot of new subscription modules into our customer base. >> at the same time you actually point out point blank you are taking big business from microsoft which people feel is an all powerful company and sem man tech people are calling them legacy vendors and they have been hit with massive ransomware attacks. when you go in to customers who have these two do you say, listen, that's got to go if you want to be safe? >> well, i think they tell us it has to go in many cases. a lot of the breaches we respond to have legacy in place like microsoft and semantic they're not able to keep up with the current threats that are in the environment. this is why we pioneered this. we have one of the largest data modes. we collect a trillion events per

day and we use all of that vast information to create protection for our customers and drive the ai algorithms and it's the community immeub knit at this. the crowd in the crowd strike continues to make our technology smarter as we add more customers. >> you won a contract that i have to believe is a bragging rights contract. when you go into anybody they're going to be interested the cybersecurity infrastructure security agency. cisa it turns out it's the marquee part of our federal government how did you get that >> well, we got it because i think we've got the best technology in the market and we partner, i think well with the u.s. government. obviously it's very competitive as you might imagine to win an opportunity like that. this came out of the executive order and i think the current administration is doing a great job focusing on security with cisa we're proud that we were

selected as a massive opportunity. really we're just getting started. this is one of the largest wins of the company. >> we're concerned about the competitive environment. i stay close to you and others in the industry. we talked a lot about palo alto and they offer on prem and cloud. when you go up against an outfit like that, they do have on prem and cloud, how do you make a proposition that wins? >> that's easy our agents are on prem or in the cloud. doesn't matter could be in a public cloud, a private cloud. a data center. the management control framework runs in the cloud which is a real advantage to cloud native we can iterate our technology so quick. we can update our algorithms so seamlessly it drives more efficiencies, lowers the costs but it also allows us to react to the threats as they come out in the environment. it's a real advantage to be

cloud native >> btig, good report, greg powell said over the last few weeks we spoke with nine contacts in the security space and crowd strike and broader trends in the end point security market for the first time since covering the stock we picked up a notable change in the competitive environment saying that basically you're bumping up against a lot of others. do you think that's looking with a too small prism? >> jim, it's always been competitive. no secret it's a competitive environment but we're winning and we're winning because the environment works. we're replacing technologies that failed to scale after two months we talked about it in the earnings race. two months into their 24-month contract you have to have a platform. you have to go beyond buzz words and architecture i think those numbers speak for themselves and we're excited about the quarter and the future for crowd strike. >> congratulations on this great honor. i think when people are trying

to figure out what stocks to buy, they want to look at something like a "fortune" list, thank you. great to see you again, sir. >> thank you, jim. >> "mad money" is back after the break. >> announcer: coming up, this company's got soul but is this street stock street ready? cramer spreads his wings on the heels of an ipo that's got investors in knots next

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the market came roaring back today. a whole class of stocks. formerly red hot ipos that came hot soared to sky high valuations lately this group has been obliterated. tonight i want to talk to you about what's wrong with so many

members. here's a representative example. i got the shoes. i like them. it's called allbirds the ticker is bird it's a brand made from naturally derived materials. they became public and wall street laughed at them a well-known brand with a fast growing sustainability angle isn't that great they had all the ingredients to create hype. nearly it doubled out of the gate it's a simple reason, it's too expensive. sure enough allbird's been peaking on the first day and now it's cut in half it's just a dollar over the ipo price. anybody who bought it on the open market so could now at this price be it worth considering?

before i dive into details, there's nothing particularly wrong with the company allbirds. it's not like they screwed up big time and brought the decline on it self the stock should have simply never gone so high in the first place. we've seen this pattern over and over with the ipos in 2021, a series of great companies and lousy stocks the problem in each case that investors bid these stocks up to ridiculous levels not because they like the fundamentals, but because they like the product. to put it another way, they're fans of the merchandise set you up to fail as for allbirds, it would have been enticenticing they're a most iconic product made from sustainably sourced wool and carbon negative

chemicals. i do it with williams sonoma one of the reasons i like the product so much. when allbirds came public, the financials were good, not great. very good. in 2018 to 2020 they saw growth which translates into a terrific 32% annual compound growth r5i9. what they made jumped from 46.9 to 51.4 and while the company is, indeed, losing money, that's because they're spending heavily in order to expand we like that, too. that includes a big digital business however, like i said, the numbers were good but they weren't spectacular. allbirds has seen the revenue growth decelerate. the first six months they grew at 26.7% their losses have expanded which is not ideal on top of that, they had negative cash flow from

operations in the first half i don't like that at all the stock has almost doubled on the first day of trading and that was after the book runners had increased the number of shares investors had such a voracious appetite but their appetite vanished within 24 hours it sure didn't help when wall street started fretting about valuation and it just got hammered the worse was yet to come. on tuesday night it's a publicly traded company wall street was clearly disappointed the stock plunged 16.5%. it's not that the quarter was bad. it's not like it should have been surprising. they gave you preliminary third quarter results were not in line with what we were predicting we're talking about 33% revenue growth what did go wrong?

the earnings were used pre-ipo count. many use the post ipo share which includes triple the amount of shares. result was a loss per share that appeared to be much larger than expected even though actually the opposite was true. unfortunately we live in a world where robots write the headlines. i mean that. you see a lot of stories where allbirds has weaker than exp expected all of the professionals care about the future and the guidance it wasn't really bad but it also wasn't great they bought the stock because they loved the shoes when allbirds gave you the four-year forecast it was a tiny bit better than expected the forecast for 2022 was bwors than expected. you did not get it because it was a brand new company.

the real problem with allbirds, there are way too many people hoping for a blowout had to figure there was no way they wouldn't do a blowout or else they wouldn't come public now. at the first day peak it was valued at $4.7 billion which is incredibly expensive for a footwear company even when it pulled back to $19 and change. it was valued at 2.8 billion, roughly 8 times sales estimates, not earnings, but sales and that's a lot for a company that makes shoes. allbirds is not a cloud company that's turbo charged at this point the stock is fallen to 16 is that cheap enough to make things interesting i don't know this is a consumer product company and i really prefer to value these on a typical earnings basis allbirds doesn't have any earnings you want a piece of this one how about 12 bucks

that's what would sem at five times sales. still difficult but these are adjustable again, there's been a ton of this over heated ipo market. then there's dutch, it's at 53, i said you need to wait until 40 then it soared to 81 since then the stock has collapsed. it's now at 47 down 10% where it was trading and i think it can go lower because it's still over valued i can go on and on with these, but the bottom line, many of the stocks have ridiculous levels and right out of the gate it sets investors up. that's what happened to allbirds it can go lower before it finds a bottom but i still like my shoes. mike in georgia. mike >> caller: hey, jim. roll up those sleeves, buddy.

>> jimmy chill is here to help. >> caller: before the quarter, up a quarter and it's dropped 60%, upstart. >> i was discussing this with chip marx from the brain trust that runs the charitable trust investing club and also with ben stoto. we were both just shocked that this thing could go down this much but then again look where it came from it got over heated and it's not docusign upstart can come back. my idea, mike, is to buy some remember, people are locking in profits. upstart, a lot of people have a very big profit. justin in north carolina that's your problem. >> caller: i'm calling about nerd wallet. i like the app, what do you think of the stock >> i like the app. what about the stock

no dies. h -- dice. i was thinking about putting nerd wallet in i should have. nertd wallet, penalty box, 15 minute major don't know if they have those. >> ross. >> caller: big fan global foundries, it seems like they have a willingness to go at that >> tom callfield is trying to satisfy everybody and i think he can. he hasthe full features. he's taught me to speak of those. and he's got high performance. i any he's doing a remarkable job. i think global foundries is a great business and tom caulfield is a winner. now allbirds, the stock or the company -- or the shoes. what am i talking about?

the shoes. now i'm going to talk about the stock. that's not great a clu-- including the multiples is it time to propose a plan to add to sales then we want to beat covid-19. what's stopping us rapid fire in tonight's edition of the lightning round so stay with cramer. >> announcer: next thursday investing club members can talk to cramer live >> exclusive access to my best fans of the year >> next thursday, 12:30 eastern. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help.

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sometimes a stock that you like will sell off for no good reason whatsoever. they missed the memo that the

market is down take sig it's the parent company of jared, zales, kay jewelers this has been one of the best stories we've identified sig has gone from turn around story to a true omni channel powerhouse now it's been pinned because of the omicron variant. this morning signet was performing now it got thrown into the meat market wall street was looking for 72 cents. fourth quarter guidance, magnificent. the stockstill trades at less than 9 times earnings. let's talk to the turn around artist at signet jewelers.

>> thanks so much. >> when they see a stock down they tend to think something is wrong. let's go right to it how was black friday >> we had a great black friday and cyber monday, jim. we saw momentum continue we had a strong october which we talked about in our earnings call today the signet team is ready for holiday. we're stocked, staffed we have great new capabilities for customers to buy online, pick up in store >> balance sheet, how does it look >> it's very strong. i think that's a good story at signet great working capital story. we've been working on the health of our inventory over the last several years now. our clearance is down significantly. our inventory turn is up 50% it's really an exciting story there. it's giving us the liquidity we

need to invest to grow advertising was up 50% last quarter as an example and we continue to add digital features for customers. >> are you doing a lot of nfl football or other ways to get ahold of people? >> our marketing program is much broader that that. definitely consumers will see us on tv. i'm not going. we're doing a broader market base we're targeting bridal shoppers with the right messages. we're getting viewers at the right time >> there will be a lot of punting. two things i want to talk about.

one thing that happened was your company had the reputation workplace for women. workplace. the other thing is that you had a giant credit department that was actually running the company. now you've exited credit and you've just got again a great place for women to work. how were you able to turn this around in such a fast period >> i think it's been a true team effort across our company, jim we are very proud for the second year in a row to be a great plate certified and making improvements in our culture. we made a lot of improvements this year in our compensation for employees. raising our added wage and surpluses for teens working around the clock we're making signet a place

where people can come and stay it's a big story in retail, the turnover and attrition, we're seeing the opposite. we're down 60% in attrition in our new employees. great story. >> i want to congratulate the team obviously you've led a great pathway to brilliance. now another thing that i find very intriguing was that you seemed to know that people were going to shop early and you had the inventory and they're in the quad. >> that's right. we've been using our consumer insights and trend predictions to plan. we predicted months ago that customers would be in the market earlier. we turned up the dial on the marketing support. we got the right product to the right stores and we served customers very well in brick and mortar brick and mortar traffic was up to two years ago

that's almost a do you believing of our ecommerce business last quarter with 13% growth so very strong on that front as well. >> last thing, you always come on right about now what is hot, what's selling very well right now? >> we do we're seeing pretty broad scale strength right now diamond fashion jewelry is trending for women and for men that's a very new trend. men buying for themselves and their partners buying for them gold jewelry some that are particularly hot in bridal. vieira wang has been very strong then in fashion the new zero

reena williams line is doing very well. we're excited about this. >> i want to thank you you are -- your advertising is the best esg advertising i've always felt you treat men and women of all races, colors, creeds equally i wish others did the same thing. >> thanks so much for that, jim. it's really important to us to show all kinds of relationships, all kinds of love and it's really the purpose of our company, to inspire love you know, if you go to our website how strongly we feel about corporate citizenship. we really take it very seriously. >> congratulations once again. a great quarter. thank you so much for coming back on "mad money." >> thank you, jim. this has been a turn around

on every single level. so impressive. symbol sig mad american will be back in a minute >> announcer: 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.

it is time it's time for the lightning round. and then the lightning round is

over are you ready, skee-daddy. start with minal in georgia. >> caller: boo-yah, jim. >> boo-yah what have you got? >> caller: you have guided me in the detailed investment strategy thank you so much for that. >> thank you. >> caller: vir biotechnology. >> i met him many years up in boston he runs that company and i have to tell you he is partnered with glaxosmithkline. they may have something. they could be very, very good against omicron. it's very early. very early by i like it. i think you should own the stock. >> clark in florida. how are you? >> caller: hey, jim, i'm good. how are you? >> fantastic >> caller: i want your feeling

on enb. >> it has been in the house of pain it does yield 7% they have a great long-term business other than being brought down one barrel from end of day. >> caller: thanks fortaking my call i've got a semiconductor stock for you. bank of america just under their price target from 70 to 75 it currently trades in the low 60s. the ticker symbol is on. the name of the company is on semiconductor. >> we have had him on multiple times. i think he's a genius. he has the best automobile chips. that stock is a buy to me. george in florida. george. >> caller: how are you, jim. down here in boca raton. what's going on with at&t, jim >> i had a grandmother and she

said if you had nothing good to say about someone, then don't say it susan in new york. susan. >> caller: yes. >> you're up >> caller: hi. >> hi. how are you? >> caller: i'm good, mr. cramer. how are you? >> i'm pretty good how about you? >> caller: i'm well, thank you thank you for everything that you do for us. >> thank you thank you very much. >> caller: you're welcome. my question for you today is robinhood. >> no. no no i had a grandmother -- here's the problem with robinhood they've got the wrong customer base they have a great app. remember when i had that young person come on saying why am i using robin hood because i'm tired of candy crush. that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning

round is sponsored by t.d. ameritrade coming up, hut hut hike. stick with cramer for a special no huddle next it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

look, maybe it's because i'm from philadelphia and i love a good fight but i'm not going to let up on this vaccination, not now, not ever. there's something good happening. we can only go zero tolerance on covid. don't forget we're on the cusp of everything we needed from the start. antiviral drugs and a treatment from glaks he smith klein. pfizer is doing everything it can to manufacture enough of this stuff to reduce the risk of hospitalization by 89% clinical trial date on this thing is incredible. even as it reached the approved one for merck it looks like half is used.

the federal government has stay tis tickets out of johns hopkins. no one in the medical powerhouse facility who has gotten covid despite being vaccinated that's why you have to get the shot when you take the two details, if only everyone were triple vaccinated, we can pretty much keep the thought of death off the table. most this case is detected in minnesota from a gentleman who drove to new york city for an animae convention. i went to the site if that sounds too good to be true it's because we can't get our act together as a country.

the massive resistance to getting vaccinated has become a huge problem anyone who won't get their shots is a potential breeding ground with immunity. at the same time tvs tolerable and i had otic they're buying everything to stop the pandemic. instead abbott labs is marketing the best -- if you go to the u.k. they give them away for free the local government will reimburse you. 14 bucks isn't too expensive, just ridiculous if they want to subsidize something that will be so useful. if you won't take the vaccine, that means you're far more

likely to get the boost sters. these scientific breakthroughs had been leaders ridiculously, the right not to get there "squawk box," the first amendment is about speech. just a government has been forcing people to get for over a cen century. that brings unlimited rights to the state. again, there have been federal vaccine requirements i wish president biden would take more of a stand but the fda and cdc are so wishy wash jie i'm sure it doesn't provide a lot. it's going to be used as one more excuse not to get vaccinated we can stop this whole thing in

its track and decides to get really experienced to you see th this i like to say there's always a bull market somewhere. i'm ji five cases of covid omicron variant detected in new york details of the spread and the new restrictions this is the news on cnbc president biden outlines his battle plan. >> science and speed not chaos and confusion. no shutdowns, no lockdowns but five key actions that every one is being asked to take over the winter more cases of the new variant found in the u.s we go back to where it was first detected and meet a south african virus hunter