tv Mad Money CNBC March 1, 2022 6:00pm-7:00pm EST
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"options action", happy birthday dad. very special one i'm with carter, uso >> happy birthday mr. nathan thank you for watching "fast money" don't go anywhere. "mad money" with jim cramer starts 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 heying i'm dram early him welcome to "mad money. welcome to cramerica i'm not trying to make friends, i'm trying to make money my job is not to make money, to teach, quality me, 1-800-743-cnbc a calm doom heads to encircle a a city, schools, universities,
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hospitals, people want to live in a democratic society. the fed chief heads to capitol hill to talk about lowering the boom on the economy, rampant inflation soaring off the carts. this combination of doom and boom naturally produces gloom. that's what folks today are feeling. s&p plunging nooks tumbling 1.59% i want to say gloom, not panic a legitimate sense things have gotten off track and won't be on track any time soon. i say, look, why don't we step back for a moment and see what happens, rather than taking action >> sell, sell, sell, buy, buy, buy. >> some headline of someone fought telesnot selling foeps to russia the fed chief will explain how the war in europe won't break down our horrors, the levels are
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uncertain, causing interest rates to plummet, when normally they would be soaring. if anything, the skyrocketing price of oil is worth $100 having reached the level people simply don't drive as much this combination gives us a confusing moment, where inflation should be driving interest rates higher. the events if you crane are so darn frightening it's kawased a fanatical flight to quality. the citizens of kiev are likely to be heeding in the subway. the dennisons of wall street want to hide in bond is there anyway out other than lower stock prices i think that itself thequestio at the moment. the good answer is to say absolutely not they have to fall. the only way for stocks to bottom is if they keep going lower and reach a point there are no more sells e sellers. logic, war in a bear market, as
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long as you are in a bear mark, they will sell and brain dead bulls stick around for the carnage. i've seen it a lot in my career. if you bought today, you are buying ahead of a two-day session speak. you are buying ahead of a 40 mile russian column ready to lay to waste right. although, a portion of russia seems to be running out of fume. put it altogether, it makes for an incredibly ugly moment. no one is disputing that yes, i do like to play devictim'sed a voengt and tell you what is right, not wrong i will let everyone else do that they do it well. j. powell goes before congress, says he doesn't like how inflation is going, he has to say he doesn't like the rates. he may take a measured approach telling us he will hike once and wait and see if he needs to do more powell can save 50 basis points or 25. once he says he will do it, that
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issue is done. it will take the uncertainty off the table. the hikes will be swift and the marks will get hammered. that's what the fed has forecasted it will revert the way it was when it first started. second, it's true there is a column of destruction headed to ukraine's capital the russians showed you both in syria and chec chechnia their army will take out anyone, civilians or on their own side, smaller operations have much weaker targets. it will be horrific when that column arrives and encircles kiev, the west seems to be out of bullets from the russians and the stockmarket will face atrocities a lot of people thought it would be over in days. ukrainians have done better than expected they are still outmanned, at this point we don't know what kind of weapons ukrainians have,
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more and more obviously are coming from the west either the russians repel or ukraine falls and russia has to occupy a hostile nation. those are not good outcomes. no matter what, russian soldiers will keep dying. it's a terrible situation. but it doesn't have much bearing on the u.s. stockmarket unless putin loses his mind and supplies tactical out of desperation. if he hits the red button, our stockmarket will collapse. that will be the least of your worries in a world war iii scenario if the battle remains that, we have to presume oil will keep going up, that will have a demand of destruction and lead to number cutting. it can create a recession as we saw in the oil embarrgo of 2003
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remember when i said leave cash on the lied i side lines, a combination or earnings can transcend to chaos a dip is not 30%, which so many stocks are i actually think the money can come back from the side lines. they will stop with the right risk/reward. they will stop, hey, once again, you may not need bonds especially after this run and you may sell me stocks the demand of high oil prices make the fed's job easy. we're not talking earnings does that sound rosy to you? it's maybe the best outcome. it means buyers will not buy gifts because there is no other way to fet a return again. of course, to get everything working, you need putin to too many to his senses, his gems or the chinese tell him to cool it. you need oil to come down. grains to reverse, the auto
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makers to get mortgage rates drop so homes are more affordable in that scenario, it's hard to see how stocks don't go up so when can that happen? any day? we don't know which one. that's why i try to have crash, it works slowly, on the way down, as we tend to do with my charitable trust i encourage you to follow. not a lot of buys. it's still too early you will tax the proverbial bottom you don't know when. we just don't know when. but the bottom line, we do know you are a fool if you think things are only just now getting bad for the stockmarket and can only get much worse. it ain't a dip, people, it's been going now since november, thanks to this endless sell-off. but you know what? maybe we're a lot closer to a bottom than a top? bob in europe, bob >> hey, jim, first and foremost,
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our prayers to the feel of ukraine in their fight for freedom, jim, i spoke to you about a year-and-a-half ago, i asked you if you consider microsoft in the same category as apple own it, don't trade it at the time you said it was, so i have a two-part question number one, do you still feel the same today in the current environment and has microsoft been punished more than it should have been in this current environment? >> well, microsoft is a much higher price multiple than apple. i happen to think, if this is not the level. we voted forever i have been true to my mantra. that said, i think it could easily retreat to i don't know 280 and people wouldn't maybe there they jump on it. i happen to think microsoft is a very good stock and a very good company that happened to be a little too expensive for the moment or sell it for the moment. adam in maryland, adam >> caller: detective cramer, i hope you are having a great day.
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>> you know what's happening in ukraine, it's hard to have a great day. i appreciate it. i like to be upbeat. i don't want to sit here and say i hate a certain group of people that doesn't get us anywhere i find it a very sad time. go ahead, i'm sorry. >> caller: well, i'm looking at p palantir remember my question is, is this a sustainable growth model or potential red flag? >> i really despised their conference call. i to the they were very glib they talked about turning civilian business, which is what they want. how request can you buy? if this stock were 1,200, multiply, did reverse, you would see people buying palo alto. i think palantir is ridiculous, a $12 handle i wish it wasn't like that it is nowhere as good as pale loal to or crowdstrike for that matter i think we may be a little
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closer to a bottom in this market this is not a dim. no one is urging people to buy a dip. this is a spoiler. well, okay it's a real -- this is a very big client on mad money tonight, earnings missed this morning and a major change at the top of the pizza chain. i'm going one-on-one for the country's top brass to break down the numbers salesforce is soaring. oil and natural gas are in focus and the prices for ukraine and i think that maybe you should be thinking about owning the stock of proterra, i am in my charitable trust we got the ceo stay with cramer >> announcer: don't miss a second of mad money, follow @jimcramer tweet #madtweets send him an e-mail at cnbc.com or give us a call at
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. domino's pizza, stock has been clobbering for 2022, it's down 3% year-to-date this morning had a disappointed quarter. they're struggling with the labor shortage and rising food costs and it doesn't matter that people don't need to stay home to avoid covid the ceo is stepping down in april, handing the reens over, the stock got hammered in the into at one point it was down 10%
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it turned around and finished down they had commentary over the labor shortage last month. either way, this one deserves a lot of attention, let's drill down with the new ceo of domino's pizza, mr. allson, thanks for joining me on "mad money" >> thanks for having me on the show >> you increased global retail sales over 5 billion and yet it's time to leave >> yeah, jim you know, the last 11 years for me at domino's have been the most rewarding of my professional life. you know from leading our international business to the privilege i had of being our ceo have just been extraordinary but i'm at the point in my life, where my wife and i, we're ready
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to go back home to north carolina and spend more time with family and focus on other aspects of our lives really important to us. i tell you what i feel good about doing that, because the company is in such a fantastic place right now. you talked about some of the amazing growth that we've had and i'll also tell you that we got a fantastic leadership team in place that russell weiner and i have built and are ready to take the business forward and with the announcement of our new cfo sandy redding today, i feel really comfortable stepping aside and letting russelland their team take it forward >> i imagine you will be speaking about it to him i'd like to know as much as i can. >> yeah, so russell joined the business back in 28,008 in the process of turning the pizza around which you are familiar with. since then, he has been the architect of much of the innovation you have seen acros dominos from product to
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advertising, the image of our stores, you know, our dxp delivery vehicles. so many things you seen on tv and heard about, russell has been at the center of, the last four years as coo, he and i worked hand-in-hand, gosh, i couldn't be more comfortable handing the reins over i'm concerned i have to tell you about inflation. i saw it throughout your conference call. there is inflation, not having the people to work, not having the right hours. i'd come back and say, ritch, is it that you are not paying people enough or there aren't people >> you know, jim, we've actually invested a lot over the last couple of years and increasing wages and benefits across our supply cane centers and stores so most definitely there has been wage inflation in the marketplace and we really tried to invest to stay up with that
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and ahead of it. but we also see, you know, just challenges and you probably hear it from a lot of other companies with respect to the supply of labor out there right now. so we're working through that. it's more pronounced in some parts of the country relative to others i am confident over the long haul that we and our franchisees will overcome this challenge just as we have so many others in our history >> well, you are the great international figure dominos and international news obviously front and center russia, ukraine, these are not strange companies to you what is going on in your eyes over there >> jim, our hearts go out to our team members and their families in ukraine we do have more than 60 stores in ukraine i tell you, the first thing i did when i woke up this morning is exchange e-mails with our team over there i was inspired to hear this morning, despite all the things going on in our team member's lives, they had opened up several of our stores
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so that they could serve pizzas to people in need today. i think that really speaks to the spirit of dominos and what we're all about around the world. >> so, this is a very negative time, rich i don't want to be a part of it. but i understand with a column of soldiers that could surround kiev, the possibility of many unknown things even someone mentioned, people talk about nuclear war how do you say upbeat in an era where things seem to be going wrong everywhere >> you know, jim, i am an optimist you know at heart i try to look at you know the best in people and everything. it's one of the reasons i love being a part of the pizza business pizza is something that brings people together, despite our differences. when you put a pizza in front of the of three or four or 10 or 100 people it's hard not to put a smile on your face and have a good time so i know there is a lot going
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on in the world today that is difficult and tough to deal with but, you know, i think if we -- if we work hard, you know, together and find the best in each other, we can all get through it >> look, i want to wish you the best of luck it sound like you have good time to do things other than work which many of us are jealous of or do nothing but work i want to congratulate you for all the success you had. i wish your family a long and happy time together. >> tanks, jim. >> absolutely. look, dominos is a juggernaut and i think that the way they've closed up today tells me people think the labor problems are behind them and it's gotten very tough again. ritch allson, ceo of dominos "mad money" we'll be right back. coming up, another chapter in one of the best all-time
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to the moon? in other words... etoro.the power of social investing. . this is earnings week from the cloud-based software stocks. it's a favorite. but it does look like it's good news, they are jumping 5%. tonight we got another encouraging report, from giant salesforce.com the cloud was down from september highs. unlike so many players, salesforce is profiting. the business is in great shape, they are supporting a clean top and bottom line beat strong revenue projections i think the stock is roaring because how much roaring capital they have.
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could this be the beginning of a big run, if we ever get a good market again mark benefit off, the o-founde and chair of salesforce.com. mr. benefit off, welcome back to mad money. >> jim, it's great to be with you, hi from san francisco, california. >> it seems you are back in the headquarters >> we're back to business. >> is everybody back or is it just you >> well, we are opening our offices up and bringing everybody back but we have a flexible work environment, the pandemic has changed everything, you know that so employees can choose they want to come back they are welcome to come back. they want to stay home, that's fair with us, too. >> i like to go to the lines the best i seen in multiple years. that is i look at many obligations, which to me means cash i was looking at 42.3.
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it came in at 43.7 billion you basically beat the numbers. >> jim, you can see, this was an extraordinary quarter. maybe the best we've ever had. you can see it in not just the quarterly guidance but where we are looking, we are a delivery guidance of 32.1 billion for our fiscal year '23, which we've now started. >> we are in a negative world right now. i don't want to go over this i am sure some will say, wait a second, i know you are all gaga, the gap operating margins were down 570 bits. obviously, supply chain problems benefit offcan't hire, all that nonsense what do i say about that margin line everyone is such a pessimist >> we've exceeded all our expectations, our operating is at record levels we are forecasting more than 40% operating margin jim, you and i love cash flow.
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>> we, we do >> we delivered more than $6 billion positive cash flow for the year, this year we are estimatings more than $7 billion at 20% growth rate as well in the cash flow for the year i think 22%. >> all right so i know you have a number of new clients remember i want to know, did your phone ring on monday at the super bowl with a very interesting commercial that kind of surprised people >> well, that commercial got way more attention than i ever expected it would, because it had a very basic message, while we're dealing with all these amazing things in technology, let's not forget to take care of our planet that's an important part of what we do at salesforce. of course, we created one '02.org, plant a tree on the planet that's gone way better than we could expect it. we have commitments in the united states through american forests to deliver more than 50 billion trees, which is incredible and we're seeing great
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capabilities all over the world, we're a part of team earth >> all right are you saying team earth or salesforce, itself, directly disrupted by some of the things going on right now in europe >> well, this is a horrible situation and you know that, and i have a very personal connection here. my great grandfather came from kiev and that is something in my mind every single day, i hope we get a peaceful resolution. it's not a part of the world where salesforce does business in but we, of course, our hearts are with everybody that's going through this nightmare >> now, i spoke with jim farley quite a bit. because he is the ceo of ford. i think ford is one of the most forward-looking companies i've come across. he has been telling me what salesforce is doing is making
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f-150 into your office a business office. i want to know how that's going, where you are seeing results already. >> we will make every f-350 into an f-360 that will be an important part of what we will do for jim farley i think for jim farley it's an incredible business. exactly as you said, probably one of the most amazing businesses in the world. now he's electrified his vehicles he has now e-transit, the new ford f-150 i have known a couple mach-es, they are amazing cars. if you haven't tried it, they're incredible try it out ford has a great opportunity to really deliver a 360 degree view on the forbid products and probably now i have a ford 550, which is a configured as a fear truck. i live in a rural area when fire strikes, i have to be ready to go mile
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they provide services to me on that i can augment those services through salesforce's customer 360 platform there they have the telemathematics. we can extend that, compliment that, giving them incredible new ways i think that's very exciting for a company like ford. ford is focused omg on professionals. they have the new ford pro, the new division that's exciting a. playbook on what craig meniere at home depot, amazing e-business, not just the b2c business and you know they're putting, when you look at that pro is for productivity. it's for professionals they're putting that ford pro, the pro in you and that is a very exciting to partner with them on such a big opportunity like that. >> people should read in trail blazer, there is a very interesting demarcation before and half-when home depot brought in salesforce. it's a sell nam moment
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i think it's happening to ford i happen to know patrice very well i think ralph lauren is an amazing steward to brand and one of the poorest people i've talked to he has metaverse he adopted going to the mall around doing a 360 view on how you look i did not know salesforce was a part of that until tonight. >> that is a new critical touch points we know customer touchpoints are critical, the retail store, the website, the app on your phone, the car, with ford but look the metaverse is a customer touch point and whether it's in fts or inside these virtual worlds you want to connecticut with your customer in a way. we call it the customer truth. you look at the customers, we had a phenomenal quarter, great
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customers, everybody from ford to ralph lauren to next gen, you know, covid companies, lu cera, a lot of things in the quarter but this idea that they're all building customer 360 based on a single source of truth this is a powerful idea. you have to be able to connect through that single source through the universe >> jim, worry about tableaux, worried about slack. i'm looking to 2022 revenue. all these silos look like they are now making money together and that that's an unprofessional way to look at your company >> well, jim, number one, there is no finish line when it comes to acquisitions. so i think for these analysts to tell us, hey, keep your eye on these incredible acquisitions, tableaux, neosoft, the integration and slaing the collaboration company. yes, we have to keep our eye on them
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wow, we've integrated them together to have that single source of truth. that is the power and the magic that when we come into one of our big customers. whether it could be citibank, an incredible company not ford by volkswagon, it could be verizon, at&t, t-mobile, that idea that they have to be able to connect with their customer in a whole new way. the ability no know where that customer is. whether they're doing field service with that customer, whether they are on premise or whether they're in the digital environment with that customer the customer expects them to know that they are the most important thing to that customer we all know look, every one of these companies, they're all going through digital transformation every digital transformation begins and ends with the customer this is what's driving our growth and this is what is really going to propel us through the next several years >> i know it's a grimt i momenti
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it weren't, the stock would be up 20. the best quarter i seen. it's a major reactreacceleration congratulations to your team co-ceo, a remarkable quarter a bust in a gloom for a few second to say this was a great quarter, thank you, sir. >> it was a great quarter, thank you. >> mad money is back after the break. react sell ration. coming up, with energy is a geopolitical animal, right now that sector must be a zoom cramer checks in two a stock that's cooking with gas next
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i'd like to talk about coterra energy i believed in the management strategy, they give you an additional pre-cash flow the stock hasn't done that much. i think the market underestimated it. last week coterra reported the first full quarter, they came in better than expected the guidance some people didn't like i thought we should buy the charitable trust i liked it so much it's the latest variable dividend if they can maintain this payout, it works out to almost a
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10% yield, on top of a become dollar buyback that makes the stock for me. don't take it from me. let's check in with the ceo of coterra, welcome back to "mad money" >> thank you for having us on. >> tom, i got to tell you, this combination is just incredible i think in this environment, both natural gas and oil strong, your decision to do what you are doing and return money to shareholders is bold and will work for years but i also know you are a person who likes growth so how do you balance the two? >> well, jim, thank you for that lead-in. because for years is why we like coterra. it's a nice balance of oil and gas revenue and as such we think it's more sustainable through the cycles we don't think it's a choice of return versus growth obviously, our sector moderated
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growth i think that's what we can look for coming forward but we have tremendous power in our assets we will be able to really respond to any challenge that gets thrown ahead of us. >> now, your permian acreage is spectacular and ease oil prices, which are very, very high. what do you think it can do? how much can you make per barrel >> well, margins are quite high as we reported in our release. as we also said, we are only investing less than 35% of our capital program of our cash flow in our capital program so, you know, you can kind of do the math in your head there. but the power of our assets, the power of our portfolio is really unprecedented in my experience. >> now, your authorization of your buyback tells me you generally think your stock is cheaper than other people's oil. i don't know how else and gas. i know no other way to read that sense just too expensive
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got to buy >> jim, we believe in our story. we believe in the future we believe in the power of our ability to sustain it. we look at intrinsic and relative value you know, it was not a difficult decision we have the cash, the wherewithal all. in addition to returning that ordinary dividend as you pointed out, it's a great yield, we had the wherewithal all and that's what we're going to do >> now, tom, i have been watching the news like you have, everybody wants oil, oil, oil, yet, i am thinking three, four, five years, when all of has to different lnd terminals will be made what you want is marcellus natural gas. are you thinking out like that i got to tell you, you are a forward thinker. i would think 202028 2029 is not that long for you? >> no, it's not. it's a great resource
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domestically and nationally. particularly with what's in the news this week the ability to provide the l&g market is second-to-none we do need cooperation out of policy-makers. we need to build pipelines and fast track terminals and get after it the u.s. producer, coterra, in particular, has the opportunity to respond to the challenges of the next decade and not only provide low-cost natural gas to the united states but further bolster u.s.-geopolitical security >> right now i think there is a belief without russia oil, take russia offline, it's pretty much the end of the industrial economy right now. we just can't handle it. i look at our country and think because of our wonderful assets and terrific oil people like you, we are not near ply in as much trouble as other countries. am i being too positive? >> well, i don't know how you
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pay attention to the last deck k5id and not come to that conclusion the u.s. has proved to be resilient. u.s. producers prove to be innovative and will continue to do so now, there are some log jams in the system right now certainly frack sand is a problem, trucking is a problem but problem solvers are who we are. we work around it and with a good operating environment, i don't think there is a problem the u.s. producer can't face. >> you mentioned the policy people, the president says he's been talking to different oil people well, you know, i talk to different oil people i haven't found anybody. i talked to big once but i want to include you, has the president called you or called coterra, asked for advice about natural gas, maybe something in the state of the union involving resources or are you just another person that has not gotten the call? >> well, i have one illustrious group here, jim, no, the president has not called me.
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if he's watching, i'll be happy to talk to him at his convenience. >> what would you had advise him if he were actually listening to what he should be staying in the state of the union about oil and gas in this country. >> well, we have tremendous capacity in this country obviously, we have climate challenges and we're not immune to that. our industry has responded remarkably well to that. and coterra is a leader in that. we've lowered our ambitions. we've reduced flaring from 2% a few years ago to under half a percent last year. we're ready to deliver a transition fuel for a growing economy and i think the experience over the last few months is that a lot of policy-makers and the public are waking up to the fact that our products are going to be required for a long, long time and we're ready to deliver them. >> i am glad you said that i think we underrate what you are doing, what everybody is doing to help our oil and gas independence i want to thank you so much, tom
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jordan, the president and ceo of coterra energy thank you, sir >> thank you >> what can i say in you got to be more bullish of some aspects of what's going on, coterra, i want to badly to own for our charitable trust, except we own a lot of oil "mad money" is back in a moment. . just chill out >> chill master j. the chill man is in the house. he's happy >> the lightning round is coming up when "mad money" returns. hey lily, i need a new wireless plan for my business,
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it is time, time for the lightning round. buy, buy, buy, sell, sell, sell. and the lightning round is over. are you ready, ski daddy ned in pennsylvania. annette. >> caller: hi, jim boo-yah. i am talking about a stock i bought in the end of september i him a a new investor >> friday our next club meeting. go ahead. >> caller: yep, so this stock i bought for the end of october, thought it was a great one it was on its way down. i lost 50% of my position since then i want to know whether i should hold it or buy some more or not? the stock i am calling about is rtii >> well, you know, i got to start the quarter, it's just a terrible quarter $27, i would still sell it. i wish i could be more positive.
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vernon in texas. please >> caller: hey, jim, who you are you doing? >> i am good, how are you? >> caller: i got this march 2020 and it rose 56 with a 300 price target. >> right. >> caller: i think i can't imagine the attrition, it's getting hit pretty bad with the regulations for chinese companies and maybe you already see this in the near future? >> i'm not recommending any chinese stocks i think the market session is too perilous and difficult to do so jerry in florida >> caller: yeah, hi, boo-yah >> boo-yah. >> caller: i wanted to ask your opinion on rily. >> you can pick your broker,
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they're all down huge and no one seems to want it let's go to amany irin pennsylvania >> caller: jim, what's going on? how are you doing? >> trying to battle this ukraine thing. what's going on with you >> caller: nir, years ago in philadelphia in a restaurant back in the days rouge, i don't know if you remember anyway >> okay. >> caller: i have a question regardingal alto ingredients, they improved the gross profit guidance actually -- >> i know that company i do not know them they are very interesting, obviously, after what we saw with regi. i got the look at everything, anything that's done using any sort of buyout let's go to mike in texas. mike >> boo-yah, jim. >> boo-yah. >> caller: my some is stem
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is it a buyer with all the attention on energy lately >> there was a period during which a lot of these spacs had such great momentum. then that period ended this is a very good company. i lot of people feel it turns out in a commodity business to be able to bounce out the grid i think it's better than that i totally understand let's go to troy in washington troy >> caller: hey, jim, boo-yah >> boo-yah. >> caller: i have a question about origin materials last week they announced they received 400 million from the state of louisiana to build their second place to set ground i want to hear, thanks, jim. >> it's a suspected stock. now i mean a lot, for renewable energy, how can i not own this stock? it was doing profitable and
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doing great things that is not the case for this particular stock let's go to tom in ohio please tom. >> caller: -- >> tom >>. >> caller: yes >> you are up, tom. >> caller: boo-yah this is tom from sufficient feel, ohio, i love you show, thank you for the entertainment and education you provide. >> that's what i want to do, thank you. >> caller: i am calling about academy outdoors afo, it's declined significantly from a high in november >> four times earnings what a horrible market this is not just a bad market. this is a horrendous market. i will not sill stock sells four times earnings doesn't make sense to me ladies and gentlemen, that is the end of the lightning round >> it's sponsored by td ameritrade coming up, russian aggression has global energy awash in uncertainty the u.s. the white house have the formula to tampl down carmen
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and work with big oil to keep america moving cramer's drilling for answers next next >> right now. and thinkorswim® is right there with you. with an innovative trading platform full of customizable tools. dedicated trade desk pros and a passionate trader community sharing strategies right on the platform. because we take trading as seriously as you do. thinkorswim® by td ameritrade alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots.
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company is doing to become a better corporate citizen david says he believes they are trying in the end, they are an oil company, ask the government, which seems reluctant but has the money and authority to pull it off i got to tell you, it is easy to be skeptical of the ceo company in the world they are sincerely trying to pivot to cleaner energy. to the point run by the fantastic cj warner of "mad money" last year with this deem chevron becomes the leader in biochemical production they are spending more than $10 billion reducing the carbon foot print. there are analysts and portfolio managers on wall street who hate him spending so much money on something to change their performance. there is one problem, in theened, chevron is an oil and gas company in an oil and gas world. as long as internal combustion engines and nuclear power is off the table.
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it doesn't matter they are willing to decarbonize, we need chevron to be chevron right now, otherwise, the country shuts down, especially with the russian situation and probably goes higher. now, chevron's stock is an all-time high. it effectually doubled this morning. that's all for the oil and gas business of course, this industry remains a political mindfield. natural resource companies are always hostage to governments that rule over their acreage while chevron doesn't have big tie-ups with large russian producers, like the one that hobble bp, they do have a major pipeline to take it from the stand to lower a million barrel per day pike what happens if russia sets down to retaliate against our government sanctions at the same time washington, president biden is trying to lower oil prices, says he is talking to major producers you know what, i talked to them,
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too much i haven't heard anybody who has spoke to him he seems content saudi arabia to pump while being saving domestically i think that's a mistake this is something we will be discussing with the ceo of devon energy that joins our meeting friday you do not want to miss that it's a different environment how else can the white house push oil prices back down for more than just a few days? the whole policy seems ridiculous, american producers have tons to return capital to shareholders in the end, it might be too hard to fully embrace electric vehicles, something still many, many years away. again, i'm glad the major oils like chevron or coterra are doing all things chevron is going all in on carbon capture but when push comes to shove, there is no political will in this country, decarbonization, the moment the price of oil spikes, leaders stop talking
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about the environment and no fossil fuels can change that in the end, behavior, itself, has to change and other fuels have to come to the floor. if they do, it will be the likes of chevron, they will be leading the charge i'd like to say there is almost a bull market somewhere. it will be right here on "mad money", i'm jim with no militars >> we are fighting just for our land. and for our freedom. >> hands are trembling. >> russia's violence is over a 500,000 ukrainians from the country. >> this is betrayal to leave my city. >> the state of the union address, president biden faces challenges at home and abroad. >> kee
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