then we knew we had you. mine is short hyg and win with credit and rates. >> dan >> shout out to guy and starbucks. >> thanks, guys. thanks for 15. heres to the next. thanks for watching "fast money. "mad money" with jim cramer starts right now >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there is 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 save you money. my job is to teach and educate so call me at 800-743-cnbc or tweet me at jim cramer what do we do after today's absolutely brutal meltdown the dow went from up to down

313. s&p ultimately losing 1.1% and the nasdaq dropping 1.3% just the last hour of trading was so horrible. the vix index jumped from 23 to nearly 26. we were gripped by something, anything we don't even know something lurking in the ukraine, china, washington wall street or hollywood even. but when you think about netflix miserable forecast, it sent the n in faang down almost 20% after the bell but you know what, we have to step back for a second because you know how often the sell-offs lead to the opposite happening let's talk about two weeks ago i talked about a checklist to identify when the market was bottom at the time the market had been going down i didn't see a bottom because i was being dispassionate about things i look for. i said there could be more pain to come. we didn't have enough checks market was too high and too perilous still taking money out of the charity trust.

now after the last hour today, i'm actually feeling more confident. this is what a bottom could look like this is murky down there let me walk you through the same dispassionate checklist from two weeks ago because i know it is dill to look through the negativity to see anything constructive but we must do that together and that brings me to item one of my checklist. before the market could bottom we need to see a sickening level of negativity. looking at tape should make you want to, yes, puke and this market felt volume inducing into the close. the run to the exits was visceral and excruciating. even before them, the american association of vid investors weekly survey had some weak numbers. balls had fallen from 25% to 21%. bears had risen from 38% to under 47%. this is an astounding level of negativity one of the few times we've seen it so we're checking that box now, emphatically, even as that

stock of netflix was at the end -- after tonight, they'll be more fright tomorrow that carries over. second, are we oversold. and you know i watch that proprietary s&p oscillator like a hawk that is what i use to measure. i need something dispassionate and i did a explainer for the investing club in my new morning meeting 10:20 video which people tell me as is important as any other point in my life to go to this video only for club members. i talked about how the market was barely oversold two weeks ago and therefore that t was too early. this time the oscillator has plummeting and fallen from plus seven where everybody is bullish and all the way to minus four. but it is not yet deep enough to prevent another down day it is getting there. minus five is the level we need to see we have to hold your nose and buy. i'd say we're here, okay getting there. we have to go to minus five.

and right now tonight we're minus four third, have the analysts thrown in the towel two weeks ago we had almost no towel losses and today though they threw in towels all over the place. if you walk by wall street, you were probably hit by one case on point, amd, of the semis have been beaten falling to 121 today and analysts downgraded it business is slow sure but wait a second. now we throw in the toul stock lost another $5, 5% and i said it would do that on squawk on the street. but at one point is it down 60 points from the high tempting, okay and then there is ford like amd we saw some investment club at much higher levels we're not idiots. this morning an analyst raised his earnings estimate and downgrades the stock even if it had fallen from $25 to $22 i think you're going to get a good opportunity in the t's. an analyst downgraded cisco

saying the business is cool despite the increase in orders is a measure of the bottom today at cnbc.com broke this terrific story about how peloton halting production of treadmills and bikes. despite the decline there is still plenty of buys on the street that means we'll get more towels thrown tomorrow we're going to do this, okay some have some it. are the big guns getting clobbered. david faber, my pal, wild cathie wood is the poster child of poor performance, there are big time hedge funds that got caught the wrong way. a bunch of down double-digit guys that is shocking to me we're just beginning at the year we're no longer just watching woods ark funds and her misery has a lot of company are the big guns getting clobbered? yes. five, is there actual systemic risk this is a safety question because that means you can't

trust the bottom like the late 2008 period. we have our normal risk rising long-term interest rates that have come up in the last couple of weeks the back drop has gotten worse with now threatening the entire economy which is what we need to see before the pain could stop so i'll tell you, events -- no, we're good on that one so we're good. so we're now three out of five okay, six. are the public markets closed off to the new deal. we've seen a couple of ipoed get pulled that is important news i think the more important to look at the post spac index. oh, my god, it is doing so badly. i mean, look at this i mean, i also like to look at the recent ipos, they're bad down this is down more than 20% yaet and unbelievable 57% over the last 12 months these outfits that came public by merging as spacs have seen their stocks get slaughters and

think their still getting shellacked and to all of the brain dead of investors because it looks like your tossing your money into a bon fire. if we get fewer ipos and spac deals that means there is less new supply and at the end of the day all markets are about supply and demand including the stock market so when i look at something like this and how the deals seem to be walking away, i'm tempted to check the box which said that we are running out of the public markets being open to junk that you would rather put money in a bon fire seven, could good earnings save us when i did the checklist two weeks ago, the answer was no now we're starting to see the likes of united health and proctor and gamble and morgan stanley have breakouts they're our new leaders when the selling ends but the forecast for netflix and ppg were disappointing so here we go again. too early. one and two. but not in that last hour. hour about eight is side line money ready to come

in i'm seeing money still streaming out despite the increase in bond yields on a percentage basis you still aren't getting much of a return from treasury and rates are a lot higher than where they've been so i think plan will come back and flow back into the stock market but the last hour of today is going to frighten people, no box checked whatsoever and this one went the wrong way. nine could anything change the principle negative, which is the fed getting ready to put the brakes on the economy and tamp down inflation tough call we've had some negative sentiment numbers and weakless housing and against that commodities especially oil have moved up substantially what happened if j powell has managed to push long-term rates high enough to slow a bunch of businesses, right. just make them go slower stranger things have happened. could anything change the principle negative we'll give that a yes. finally is the government

outside of the fed a hindrance or a help. from wall street, there are fewer things better than a gridlock congress that can't accomplish anything. and that is exactly what we're getting. you have to box check there. was today significant? considering we have many boxes checked, well it means that something that we didn't have two weeks ago we now have. but that vicious late day decline that inspired a lot of terror so therefore the market, while being close to the decline, still has some work to do. michael in florida, michael? >> caller: hey, jim, big booyah to western florida thank you for taking my call my question is in regards to -- cruise line. in your past interviewed with the president he spoke about his positive outlook for the cruise line by the end of 2022 with the record books but now with the fed raising rates and inflation at all time high and some cruises are dan selled to covid

and omicron. based on today's close at 21.03 would you consider it a buy right here or would you recommend sitting on the side lines -- >> i think for people who could tolerate a level of risk absolutely but it is just when they froze it, when you read that omicron has pretty much overwhelmed the industry, i think you could get it a little bit lower. i really do. now we're starting to get evidence of the bottom i think we're very close to it we just have a few more boxes to check and we'll be there and it might happen tomorrow, i'll be talking about it at 9:00 and then at my 10:20 morning meeting for subscribers only of the investing club on mad tonight, a host of the industries and as the kinks get worked out could now be the time to make money. i'm going to turn to a reit getting a real read on the space with the ceo of prologic and then earnings season is off to the races i'm looking at financials to give you my take

and after selling off today on a good quarter, could today's post earnings reaction from first horizon including the stock just came in too hot like others did. i have the exclusive with the ceo. 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 e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmon.cc.m.eynbco

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opportunity. companies like prologic, the real estate investment trust that owns warehouses and fulfillment centers around the world and they lease to companies like amazon and fedex and the like around 70%, they sold off this month and in part because of the rotation out of high multiple stocks and in part because of simple profit taking i think it is a good opportunity to buy when prologic reported yesterday morning they gave you nice top and bottom line beat management is forecasting a 6% to 7% increase in same store net operating income with more than $5 per share of core funds from operations when wall street was looking for $4.66 a share. that is a tremendous forecast. if the stock is only up a few bucks. so le's take a look with hamid mowman and he's really got a beat on what is going on in this country. welcome back to "mad money." >> hi, jim good to talk to you again.

>> all right i want to go right to it there is a line. you don't mince words. this is market dynamics are highly favorable, that, and ready, that demand has never been stronger. you are telling me that this right now is the best time that prologic has ever had in business why? >> that is right i think it is a confluence of factors. i think on the demand side, we have e-commerce accelerating and that is obviously even gotten stronger momentum because of e-commerce and then we have a structural increase in the level of inventory needed in the economy to build some resilience against things like pandemics and natural disasters an the like so on top of normal consumption growth, you have two structural factors that will be with us for a long time. and at the same time it is increasingly difficult to bring on supply, new real estate and warehouses in the big markets

where people are consuming everybody wants their packaging the next day or same day but they don't want warehouses in their neighborhood so tight supply and strong demand driven by some long-term factors and vacancy rates are the lowest they've ever been and rental growth has been the highest it's ever been and it is a global phenomenon. >> so you would borrow at 1.1% you're the best at what you do you have a billion square -- 1 billion square feet. but are you out of land to build? do you have no more space to put things up? >> no, because we've been over the years always looking for land opportunities in these markets. they have long gestation periods. but we control enough land, much of it owned, some of it controlled via options and the like, to build an additional almost 200 million square feet which is another $26 billion worth of product

so, we're in really good slap on a relative basis but rest of the industry doesn't control anywhere near that kind of land for growth. >> and there are a lot of people who feel that e-commerce was something involved with omicron, with covid, but you're in a position to really know e-commerce and you have everybody. it is not like you are dominated by one do you see it accelerating >> oh, absolutely. you mean, you know, the covid situation introduced a whole range of new customers, older generation to e-commerce and we got used to getting a lot more variety of goods through the e-commerce channel whether it is more groceries and all of that so the percentage of retail that is accounts for by e-commerce has gone from the low to mid teens to the low 20s and that number is going to keep growing. because if you look at the kids

that were born when the iphone came up, who are in their mid-20s now, they don't know what a store is. so i think it is going to be going up i don't know what the limit is but i could tell that you it is going to be a problem, for probably not the next ceo, but the ceo after that so it is a while. >> but you did mention that the cost of labor, you said it is bad for ten years but not getting better at all, right >> no, it is not just the cost it is just the sure unavailability of labor. and that is forcing our customers that are using our buildings to invest in technology and of course the big ones can afford to do it but the small and medium size businesses which is the core of the distribution business, they're really having a hard time coming up with the capital necessary to make these investments. so that is a business opportunity, that is a new line of business for us that in addition to what we call prolodgeis essentials, can be a

huge business opportunity for us >> i mean one last question, from your advantage point, supply chain still tough, right? it is just not getting better, the crisis >> yeah. they just moved the boats off shore so you can't show them on a visual and put them on 60 minutes or something. >> i don't want to ever say that it is -- things aren't good in the country because i think they are but prologic is the way to play it if you want to know e-commerce and income which i think a lot of our investors want hamid, thank you ceo of prologic. and i have to tell you, from the bottom, in 2009, you have been the best there is. thank you, sir >> thank you. >> stay with cramer. >> announcer: coming up, there is big energy in banking cramer runs down the big bank earnings most important to you, next

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earnings season is now in a powerful full swing. and like we do at the beginning of the beginning reporting period, the biggest banks, they are important. normally they do that because they give us a great readon th economy but now we need to make a bullish approach because this is perfect for the mainstream banks. it is not good for the high flying prerevenue companies or entertainment companies but for main street banks, nirvana these stocks held up because they're making so much money. we always hear about how rapidly rising interest rates are bad news for the stock market. that is true but not the part of the stock market that is the banks because they could make more money on the difference between what they pay you for your

deposits and what they charge you for loans. that is that net interest margins. they'll keep paying you more or less, the same old crummy rate for your checking or your savings account. then turn around and take those deposits and make a fortune with them even though i think 2022 looks very good for the financials there is no denying this is a choppy week for the six majors some of which the market loves and some of which was hated. last friday whencitigroup and jp morgan reported we saw something strange. my, wells fargo, the problem child managed to rally and while citi citigroup pulled back but jp morgan sold off. there is a reason we own wells for the charitable trust after the long weekend we heard from goldman sachs i like the quarter but wall street disagreed and didn't push hard on it the stock plunged 7% and yesterday morning we got results from morgan stanley and bank of america, both of which did better rallying

substantially but the whole market roled over and that got repealed this is a good year for the banks once the fed starts citing in the first ernst season of 2022, the group has been all over the place let's start with citi. from jane fraser took over the bank, it may have been a bit of a mess she set out to stream line the business and get into the good graces and still to early to tell work in progress when citi reports, wall street was not impressed. why, expenses were too high. up 18% year-over-year. the best thing you could say about this one is that the stock is cheap, trading at 80% of the tangible book value which would be if you liquidated and we don't do that. this is crazy cheap on book. but that is nothing new. i also like that they're finally rationalizing the worldwide network. even then, citi can't capitalize

because they to pause their buy back in december because of regulatory issues now fraser said the repurchase will resume this quarter, maybe then the stock could turn around do you mind if i wait? next up, the biggest shocker of the bank earnings season, jp morgan, long considered the best of the big banks this time wall street was very disappointed even though the headline numbers were fine, their expenses were up 11% year-over-year, far out pacing the 1% sales growth and the cfo had cautious commentary on the conference call looking at a couple of years of sub target returns. why? they are stepping up investments in the business to research their dominance against some of the other banks also but the smaller financial tech players that have been running circles around most of the majors. i didn't want to hear that because this is a company that is expenses but maybe they cut too much jamie dimon sounds like he wants to bury the think thanks and better late than never but it

will cost him an arm and a leg and it is always my favorite and not any more instead this took people by surprise which is why jp morgan stock got annihilated. in four days, it was up by $60 billion. i think it deserves to go down some but not this much we're talking about $6 billion increase in expenses after the jp morgan trade at 13 times earnings, you know what, i could do better but it has come down what is better how about wells fargo. it is like the old days. yeah, we like it so much we went for the charitable trust if you join the investing club. wells has been the best performing bank for a while because the ceo charlie sharp who i like personally because he's done a fantastic job has executed masterfully in the turnaround this time they delivered a big top and bottom line beat with 13% revenue growth and interest expenses were down versus the previous quarter and double-digits versus the previous year.

most important wells is very sensitive to interest rate so when you see bond yields surging, think wells fargo this is something that we batted around just this very morning on the charity trust research director jeff marks on the morning meeting that is every day at 10:20, this is for investing club members only and we spent time going over things like why wells did better and we concentrate on the stocks that we own for the trust but we do them all today we said we want to buy some semis too soon thank heavens. next up, goldman sachs even though the sales were better than expected, the earnings were weaker than expected for a whole bunch of reasons. but they were still huge and i love that. yet the stock got slammed because people think they could -- they can't do it again. they can't repeat. they think last year is as good as it gets as i told you over and over again, the bears say this every time and they're always wrong, goldman sells less than nine times earnings for heaven sake so you say why don't we own it

for the charitable trust as we said morning meeting, because morgan stanley exists and i'm a big deliver in diversification. you don't feed to have two banks in your portfolio. under the ceo james gorman, they have gone from a boom bust operation before him to a much more consistent enterprise focused on asset management. this is looking less and less like a bank and more and more like a service company on wednesday morgan stanley delivered a night top and bottom line beat with 6.8% revenue growth at a time when everybody is worried about cost. these guys have excellent expense control. and the investment banking system is on fire and wealth management is doing great on the asset management side and they're buying back stock. what is not to like. finally also on wednesday, bank of america reported. i like it. solid numbers. revenues basically in line but the earnings came in higher than expected from big reserve, at least still there were no negative surprises and sales were up 10% and the expenses

were up 6%, what the street needed better than the other guys bank of america is talking about holding expenses flat unlike jp morgan that is very important when we try to figure out what is going to drive the situation and you could see what happens when they -- look at how much money they're making on this much revenue. it doesn't matter. street was traumatized, by jp morgan, not bank of america. they're talking about holding expenses flat. they're a very digitized bank. these guys, not as digitized like wells fargo and bank of america is highly sensitive to interest rates which means it is in great position for 2022 if the fed raises rates they've have $6.5 billion more and if the fed does nothing the only reason we don't own bank of america for the trust because we like wells fargo. bottom line, the banks are all over the place this earnings season which goes to show you the important of individual stock picking all banks are not created equal and we get big sell-offs where everybody says

woe is me. take a look at this business tyler in california. >> caller: hi jame, thank you for the work that you do i want to ask is when do you think would be a good time to buy visa people seem to be itching to go out and spend and some will be here. >> right that is a great question now we own mastercard and for the charitable trust and jeff marks and i said that is cheaper and better and faster than visa. visa is a good company but if you want commerce and cross border commerce, the best way to do it is with mastercard. they are masterful it will do really well when omicron recedes. susan in california? >> caller: hey, jim, long time listenering. just wanted to talk about upstart which is something that you were recommending quite highly a few months back. >> right. >> caller: multiple times and then it suddenly went like a number stock, shot to hell what is your out look for the stock? >> well as i said, in our november conference call, where i said specifically and thank you for the call, i said that we

are done with the high fliers, now we want to own companies that make a lot of money and do great things with tangible products now upstart is a profitable company. but it sells at a very high price churning multiple, more than 100 i think it will be fine but it is not what is going to work right now. we're looking for the companies that make things, product. wilmer in missouri wilmer >> caller: yes, hello. >> hi. it is all yours. what is up. >> caller: well i was curious what you had to tell me of what you think about fskkr capital. >> well, that is a very -- i've been looking because there is -- it is a lot of stuff that just is kicking around right now. and they -- this is new. new to me. i have to do this. i have not liked business development companies. because i don't know what kind of loans they have

this is not starwood which i have a better handle on because barry stern is transparent i don't know how they get to the 11% yield but i don't think i want to take the risk. i never reach for yield. a surgery procedure. all banks are not created equal. individual stock picking is the name of the game much more "mad money" and including my conversation with first horizon. getting rid of the regional bank of the ceo and today the french parliament declared the chinese oppression of the weekers a crime against humanity how could this impact your portfolio? i'll give you my take and all of your calls in tonight's edition of "the lightning round," so stay with cramer

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when -- are on the rise, the wall street playbook said you need to own the banks. we're starting to get results from the smaller regionals. this morning first horizon reported, this is a bank that has seen it gone from $15 a month ago to $17 and change. make it came in hot frn because while the quarter was good it sold off a bit. but i think told was a counter trend day where first the wrong stocks went up and then they went down and everything sold off. i think first horizon is a winner if you believe the fed for the rate hikes this year but let's check if with ryan jordan and the president and ceo of first horizon corp to get a better read. welcome back to "mad money." >> thank you thanks for having me. >> i think people don't understand the way banks work. they want to sell off

everything but if the fed raises rates from these levels and it does it with -- without a lacquer, but on a good schedule, it is possible you could make more money on your deposit base, particularly because you've been trying to find ways to cut the cost of your deposit base. >> absolutely. we expect that interest rates going up are going to be very good for our business. about 65% of our loan portfolio reprices on a 30-day or thereabouts basis and in our deposit base is strong and we think there is an awful lot of margin expansion we could get from the fed raising rates in fact, i think it is going to offset many of the negatives of ppp going away, et cetera. so i'm optimistic about 2022 and 2023. >> at the same time, if the fed were to raise interest rates slowly, a quarter point say four times this year, how would it impact your loan demand? >> on a annual basis, i don't think it is going to have much

impact at all on interest rates. if you sort of back up to pre-pandemic early 2020, loan demand was very, very solid and interest rates were, you now, 150, 175 basis points going into the pandemic so we had a strong economy i think we're going to have good loan demand even if the face of rates going up in the near term. >> now you have some focusing points for everyonein hand share value which i like because you're clear about what you want and you talk about a complete integration and at one point in your conference call you're talking about doing dry runs now is this something that i have to worry about. i didn't know how tough it is going to be before i read about the dry run converter. >> yeah. it is funny, on your show a couple of years ago i said the integrate part would be relatively easy and i've not lived that down internally since. it zs z take a lot of work there is a lot of planning and testing. and the idea is to minimize the adverse impact on our customer

base and so we put a lot of efforts into testing, retesting, mock conversions, just basically run it over and over on our side and then we're spending a lot of time right now with customer outreach we're reaching out to customers to make sure thatthey could lo in to micro websites, but essentially testing out the ability to log into our treasury banking system and our online banking system so we're doing a lot on the front line to make sure there is very little to worry about on the conversion on presidents' day weekend. >> you've got what i now think is a burgeoning energy portfolio because of the merger you recently did i am keep hearing that the oil companies aren't spending like they could because they want to return money to the shareholders are you seeing any pick up with oil at $86 people asking for more money to drill. >> we're not seeing a whole lot

of pick up in new money. there is not a lot of capital going to drilling right now. that is a function of supply and demand at the regulatory environment. most energy borrowers have been deleveraging to an extent and so i expect that if all prices continue upward trend that we've seen on the last several weeks and onths, that you'll see mor money going into drilling but it is not a significant turn yet. >> now how about e-commerce. your kind of where in many ways you're in the hub of the e-commerce in our country. are you seeing to continue to build out because just say like fedex. >> we're continuing to see build out particularly on the transportation side. the fedex hub here is being rebuilt or expanded. we're seeing warehousing in this part of the world expand to hit the distribution network that fedex is really created here and so i'm optimistic that that

continues growth in e-commerce will continue and i think in many ways whether it is banking or whether it is e-commerce more broadly, the pandemic accelerated shop from home shop online and i think that is good for the folks in our part of the world that are doing a tremendous amount of distribution >> one last question our stock market has been terrible since the year began. it really isn't infiltrated into the real economy though, has it? >> no. the real economy is continued to be strong. there is -- i see less impact from the omicron variant than i did just the shortage of supplies, supply chain bottlenecks and labor constraints. but at this point, it still feels to me that we've got a strong economy, that the economy will continue to improve throughout 2022 and that if we could see some extraordinarily strong growth. i think the fed is on top of

inflation and being proactive in that regard. clearly some of the stimulus money occurred, or fed into the economy last year is unlikely to repeat in the near term. so some of them will be self-correcting and i think we could be in a place where the economy will continue to grow and we could create a soft landing. >> well, as is so often in the years i've had you on. that is my view, too and i think that you've always been one of those level headed people you're not saying look the house is burning down. i want to thank brian jordan, president and ceo of first horizon for his rational view of what is going on in our economy. thank you, brian good to see you. >> good to see you thank you. >> "mad money" is back after the break. >> announcer: coming up next cramer is bringing the thunder and answering your burning questions. in today's edition of "the lightning round.

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are you ready? to brian in florida. >> caller: i want to ask you about -- energy. >> that is the fastest growing utility. i think it is terrific and i would actually do a -- be a buyer tomorrow morning to hank in colorado. >> caller: hello, jim. my question is about spero therapeutics and i'm wondering they just had a new drug application submitted, got a fast track status. priority review. >> right but this is the height of speculation. it doesn't make any money at all. you are literally hoping that another drug company will buy that company that is what must happen yvonne in hawaii >> caller: yes hi, aloha to mr. cramer >> yes how could i help >> caller: i was wondering what your recommendation is on moderna. >> moderna actually, we're near

the end of covid and moderna needs to continue to go down a little more. and pfizer represents a better buy. mike in connecticut. mike >> caller: jim, thanks so much for taking my call >> of course >> caller: recently i found some information about this stock that had a ipo in september and at that time it was -- and it was managed well. >> all right >> caller: before the ipo and then recently you found out that in 2020 it lost 36 million and i know it is lock up theory ends in march should i be concerned about symbol onon. >> i think there are too many shoe companies and that is one of them. i didn't like all birds and i just don't like these kinds of companies. they are too expensive and they don't plmake any money let's go to john in florida.

>> thank you for taking my call. several months ago you have centerfy on, and i think they gave a good presentation and they have low volatility and i was wondering what your thoughts are. >> i think that is right we have had hudson on a bunch of times. it is fine it is a house on fire great kind of stock, no but it is good glaxo, they should have rung the register i like that stock now. i can't. norman in massachusetts. norman >> caller: hi, jim i'm a long time fan and first time caller. the company i'm calling about is the global leader in welding products and technology, and it has had great performance for decades but doesn't seem to get the attention it deserves. is lincoln electric. >> that is a really good company. lincoln electric is a good company. that is a kind -- there we go. a company that makes things, builds things, and sells them for a profit yes.

hallelujah how about sam in massachusetts sam? >> caller: yo. >> yo. go ahead. >> caller: is this jim >> yeah. it is cramer what is up. >> caller: i'm watching the beginning of your show i'm surprised, i'm sorry >> well i'm everywhere you want to be i'm like visa or something go ahead. >> caller: your setting the bar for all subscription services, it outrageous. so i wanted to ask you about amn health care services, jim? >> susan stock is terrific and the stock has tom down and sells at 13 times earnings and you have to nibble right here. i like it. we're not done it is a wild day people need more information let's go to russell in tennessee. russell? >> caller: booyah, jim i'm sew happy you took my call today because it is any 29th birthday i'm thrilled. >> happy birthday. this is the best way to spend your birthday, right here and right now.

i'm going to do the same thing what is up. >> caller: i wanted to ask you about one of my favorite companies, they've taken a beating lately down 65% year-over-year, but they recently partnered with a drugmaker and i'm wondering if now is a good entry point. i'm talking about 23 and me ticker md. >> it is a spac. i tell you, look, i think 23 and me, i think glaxosmithkline should buy them. but if they don't buy them, it will go lower still. and that, ladies and gentlemen, is the conclusion of "the lightning round. >> announcer: "the lightning round" is sponsored by td ameritrade coming up, there is no avoiding the pandemic's market effects but cramer explains why every gamer should be a news hound at heart, next.

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you can't afford to ignore the front page of the newspaper in favor of the business section. that is something that i always preached back when i ran my ow hedge fund because far too often the big sell-offs like in the last hour were caused by something that broke on page one of the "new york times," not in something in section d

today, the french parliament declared the chinese oppression of the uyghur muslim people a crime against humanity you don't level a charge of genocide against the largest country on earth one that is the largest importer of french goods. unless you're willing to pick a fight. personally i reject investing in a country that is committing ongoing crimes against humanity. the same way i protested harvard support for apartheid south africa by refusing to invest in stocks there when i graduated. we need to keep the uyghur issue front and center because of the escalation against china when former trump took a stand, not many countries were willing to cooperate but human rights is a a horse of a different color we have to ask what it means for the stock market first off my charitable trust has a big position in boeing i'm hoping they will come through as big orders because

they need the planes but it is hard to imagine that happening if things are getting more contentious second the taiwan issue. i don't think china is crazy enough to invade probably but they could disrupt taiwanese shipping to put a pressure on them our economy is way to reliant on taiwan semiconductor we need to see a rapid diverse case away from taiwan with more home grown chips with the help of the semiconductor initiative. third we have to keep many mind that china itself may be on thinner ice with the central bank cutting interest rates to prop up the ailing real estate market they're not in great shape it is not just china there is russia. which wants to actually invade ukraine. this is a tricky situation vladimir putin wants to make ukraine a russian client state or maybe carve off a chunk of it like he did with crimea. he said that ukraine prompted a response and the question is will the u.s. anner and oural

allies have something if they try to pull something. the german government won't hold construction of a new pipeline forget serious sanctions or military action. germany gets energy from russia so their in an economic hostage situation. like with china, we don't have a ton of commerce with russia so the impact is hard to figure out but rising tensions will be the ongoing issue. i don't think our government would go to war to save ukraine but if the rest of nato is on board, that is a different story. if our government decides to take state sponsored cybersecurity seriously, always keep one eye on palo alto. in the last hour of today's trading where we figure out if there are rumors of war. not war. but rumors of it but following covid at all timesch you want to know what could happen think the thanksgiving day massacre last year because of omicron. but you also want to foe if the

pandemic is truly peaking. that is a worldwide problem. so look to "the new york times" home page, not the business section to get the real answers. i'd like to say there is always a bull market somewhere and i promise to try to find it just for you here on "mad money." i'm jim cramer, see you tomorrow the news wit a high-stakes meeting between russia and the u.s. just hours away i'm kelly evans in for shepard smith. this is the news on cnbc >> no doubt at all that if putin makes this choice, russia will pay a heavy price. >> president biden seeks to calm nerves after his controversial remarks on a possible russian invasion tonight, the stinging reaction from ukraine's president new findings released by the cia. regarding that mysterious illness known as havana syndrome the controversial assessment and the swift backlash >> i have some very tough and serious questions. legal trouble for former