>> i was a proud father today when i saw you on the today show, killing it. they don't even know if they deserve your genius, dollar general. >> anyway, thank you for watching "fast money". do not go anywhere, "trade it or fade it?" with jim cramer starts right now. my mission is simple, to make you money. i am here to level the playing field for all investors. there is always a loophole somewhere, i promise to help you find it. "mad money" starts now. good evening, i am jim cramer, welcome to my world. we call my world, "mad money". that was march 14, 2005. that was the first time i greeted america from capital

studio see. ever since i day, this has been our home base. tonight marks my lesson come into this set. 20 me monday, i cannot believe it's happening, on monday, i am moving to the floor of the new york stock exchange for 29. while the location is changing, for 17 years, the mission is never changed. that's right, other people want to make friends, i just want to help you make money. my job is not just to entertain, but to teach and educate. i will do a down there the exact same way i do it here. call me at 800-743-cnbc. you can also tweet me at jim cramer. everything seems out of control. yes, the fed may need to cause a recession to stamp out inflation. that does not mean it is the

end of the world for stocks. it is not great for the averages. it was not a lackluster day. the s&p declined. the nasdaq inched up a bit. this was another remarkable recovery from the abyss, just like yesterday. the fact is, if you own stocks, the odds favor that you will lose money. why not just get out and circle back at a later moment? that's a logical question. losing money is part of the process. don't get me wrong, i would love to sidestep this action. most people are not nimble enough to pull it off. that's why you are better staying the course. at times like this, we forget what it's like to make money. we wake up and wonder how much we will lose today. i joked with the security guards at the new york stock exchange every morning that the dow futures are going down 300

point. yes, it has gotten that bad. with to worry that the endless nature of the selloff is becoming self-fulfilling. just like the collapse of 2001, there are fewer and fewer people each day that care about stocks. we are beyond the denial phase and are in acceptance mode. the money is lost and it is not coming back. does that thought they could make a living by daytrading recognize that to find a real job. by the way, they want to be paid in cash, not cash and stock, they are done and out. i like to know how much real activity there might be at robin hood with the 20 million accounts. how make it's got blown out by crypto? people are just plain mad. they are bitter. they want someone to blame. there is a big construction project going on downtown, down near our new home on the new

york stock exchange. between the coffee guy in my office, construction workers like to talk with me. they know i have a show. we were all considering considering blue-chip stocks when times were good. now, they think the whole thing is just one big con. i have been on twitter for 14 years. was always fun to look at the questions. not anymore. i think this has more to do with the anger and 70 that stands for the market. the market is no fun anymore. who do they blame? me. believe it or not, i don't control the stock market since i resigned my position in the illuminati. i am being really clear, all of this is typical of what happens when you are in the midst of a

miserable bear market. i got the same kind of flak in 2000. at 22 years ago, i told everyone to sell before the peak, did not matter. i was hated. i am a top 10 hated figure in twitter. am i proud of that? i am from philly, you bet i am. how long can this last? it's up to answer, it is moving target. here's what i mean. look at the chart. i came to you and said, i want you to buy some of this, right here. i know you would say, you would say, i hate jim cramer so much, he now comes to me, after this , with an insane rally, now he tells me to buy when it is flat, not a gentle slope? this isn't a stock. this is the chart of the ppi. [ indiscernible ] we were also

worried about a, this is a stock, you would not buy it, you would sell it. let's get serious on whether this is the beginning or the end. it will not stay there. i have another one. does this look like it is in an uncontrollable rally phase? this thing is insane. it's going to the moon. i have to get in. this is an absolutely nothing. guess what? look what this chart is. this is oil. when oil was going up every day, everybody was like five dollars? i cannot believe i did that. i am voting for this guy. look, it is super inflation. now it is coming down hard. the price at the pump is coming down harder. the oil stocks are horrendous. i know, i on them. when it goes down, everyone want to get out of the way.

when it goes up, it is all we talk about. one more, all we have been hearing about is that food prices have gotten out of control. i have been in a supermarket, a flank steak, $17. food does not come from the sky this is not exodus where we get manna from heaven. i do care about the future of food, not the food i bought lesson at kings. district is agriculture. look at this chart. this is an ugly chart. this is going lower and so do you. you look at this common you say there goes the gym again, try to take my hard earned dollars. what is this chart? this is a chart of agriculture. all of the things that go into food. it is coming down huge. it looks like a short to me. that is a forecast for the price of food to come. now i am really shaking. we have three charts that reflect crucial parts of the

inflation equation that we talk about. this is pointing toward the idea that inflation is hitting its peak. i do favor one less hundred basis point from the fed. cramer isn't thinking anything. the important thing is at the goalpost changed again. we hope you get good price index numbers. we hope to hit the peak and food. we are looking at charts. they are all peaking. the goalposts have changed. now, wall street says this stuff doesn't matter. people are thinking is because we are looking at a recession. six months ago, this would have been extremely bullish. now are just looking at the

wicked economy. there is truth in the pictures. let's go back to the mystery and talk about. we're going down and down because professional money managers want to get ahead of everybody else. the hedge fund playbook says you have to dump all auto stocks. the odds favor getting out. what if it's not good? the stocks, not the company. what if the recession bu to it? what if gm stock, and incredible stock, transfers at five-time earnings. what happens if we don't get the full-blown, horrible recession. they both full-line of electric vehicles coming. you have the auto driving stuff. we have the ceo of gm. we will hear about the turnaround. nobody cares. don't you know there is a

recession? we need to get a new set, this thing just cut my arm. i come back and say, just wait. this is a kind of stock that goes up 20% in three sessions. enjoy the pain for three sessions. know what three days it is, you can trade in and out. before you say, i met a my mind, can i tell you, this morning, when the nasdaq was down 2%, i bumped into a guy at a construction site and normally asked me about the nasdaq stocks, including plug power. when i wanted to tell him that plug was on, i hesitated. nasdaq is about to take your head off again. instead, nasdaq rallies. at the bottom line? i am sure we are not done with

his misery. i am also sure that the goalpost will be at the end of the field, and all will be well, i just don't know when. general motors is planning for an electrified future. what strides have the company made to dominate the ev world? i am speaking as closely to the ceo. i'm looking at the list, and give you my take. we will also learn more about plug power and the plan to expand the top brass. stay with cramer. don't miss a second of 29. follow jim cramer on twitter. also you can tweet at #madtweets. you can also give us a call at

800-743-cnbc. wow! it's been 38 years since we were here. back then we could barely afford a hostel.

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the dow is up 7% since the end of 2019. the s&p is up more than 17. you could argue, for many groups, the bear market is about working off the excess of the last few years. if you came in at the high, you could be like that. for some socks it is worse. the hard-hit names are trading below where they were at the start of the pandemic. in some cases, well below it. these are total get back stories. some of them are dangerous, i admit, others represent an amazing herzing opportunity. we look at all the socks from the s&p 500, 172 are trading below where they were the end of 2019. that is pretty staggering. many of the class a well deserved. if you look at the three worst performing stocks, they are cruise lines. they lost a massive amount of pandemic is disputed took on a mountain of debt to survive. that is hard to justify buying. we want to stick to the more

proven stories. we are focused on the 10 total get back stocks with the largest market capitalizations as of yesterday. these are not small, these are big. we are talking mega platforms. j.p. morgan, bank of america, verizon, comcast, cisco systems, walt disney, intel, and wells fargo. some of these are more attractive than others. let's look at the meta platform. it is down from 2019. although the earnings have doubled since then, the earnings quote has stalled. that's why they cannot get any traction. i do like them. starting now, they are up against easier comparisons, and they got aggressive about cutting costs. i do believe that tik tok will

get its money. i think people will like the metaverse over the holidays. let's talk about j.p. morgan and wells fargo. the big money banks have had pretty choppy earnings. it is a strange trajectory. normally when the fed rages, they are the biggest beneficiaries. they take your deposits, and they stick them in risk-free short-term treasuries to give them a bigger yield than they pay you. if we go into recession, that's what it sounds like during the release, that to take a big credit charges to prepare for loan-loss is. all three in the business, let's say that businesses that is doornail. with all of the headwinds, the megabanks are expected to make more money this year than they did in 2019.

somehow the j.p. morgan stock is down 20%. bank of america is up nearly 15%. the one exception is wells fargo. the earnings are basically flat. obviously, things look worse today since j.p. morgan issued the disappointment. the headline numbers were bad. all of the weaknesses are in investment banking. if anyone looked at this, wouldn't they know that there was not any business this quarter? >> the core consumer business is on fire. it is up 90% year-over-year. even the jamie the hurricane had good things to say about the economy. do not touch the stock, there are better banks, such as wells fargo. we have bank of america on monday. i'm reserving judgment until we

get more on both. we have a sharp divergence between the banks. they are doing well. the ones that are doing poorly, unless you expect to do better, look at this here. j.p. morgan has a 3.7 point yield. wells fargo got 2.4. i like them as a turnaround story. this is the best way to play with rising interest rates, thanks to the gargantuan deposit base. so far, so good. the next one is a verizon. this is tougher. it will be a struggle to grow. it is a good bond market alternative. you could simply buy it at 50, or below. you sell it around 60, and collect 5% yield in the interim port. it's like st. james place or new york in monopoly. there is then comcast. i cannot go into detail, it is the parent company of this network. the stocks are down 12%.

earnings were up 14%. then we have cisco. it is problematic. i did like it, last quarter was ugly. that was due to the chinese lockdown. the yield is on her today. would it hurt was the damage we got from the wall street firm that was silly, given how low the stock is. what about the most problematic stock that we have? this is such a plain, vanilla name, that is walt disney. the stock has been gutted. this whole interchange has been put through the meat grinder. netflix is insane. where are the theme parks?

i've not been to them. these guys at disney are expected to have a 71% earnings score. they are on track for 39% growth next year. nobody seems to care, or believes this. intel deserves to be down. they have fallen further and further. there are so many better ways to be on the recovery for the semi conductor space. finally, we have at&t, down with a 30% from 2019. that is from the warner meeting yes it off. when you for that, the stock is still down. this is a much cleaner story. their management does not inspire confidence. if you want to grow a store in that sector, stick with t- mobile. if you want yield, go the more consistent way.

bottom line, when you look at the stock set of given back all of the gains from the last 2.5 years, some of them are worth buying. i do like meta, cisco, and disney. i have comcast as part of mike compensation. this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies

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electric crop of hummers. we talked about the deal with the ceo of gm. yes, we talked about when it will start to move up? let's check in with the chair and ceo of general motors. mary, it is great to see you on "mad money". i am thrilled to be with you in person. i want to get right to it. i think there is a misunderstanding about gm. gm is a leader, not just in autonomous, but also in ev, demonstrated today. you had that incredible, joint venture with the pilot company, making people realize that an ev is not just a local car. how did this come together? >> we have been working on making sure there is a robust charging infrastructure. this was a great company to partner with. 70% of the population of the united states lives 10 miles

away. they are across the country. they are a great partner. right now, our customers get access to 100,000 chargers in the country. that is a lot. this company will to get to the next level. you know they are at the stations. if you are a gm vehicle purchaser, you get preferred scheduling and a discount. we are excited about the partnership, due to the region has, and the fact that they are doing an upgrade right now. it will be a facility that people will want to spend time at. >> if i purchase a chevy volt ev comments not just a local car. >> definitely not. we are looking to have them set up every 50 miles. it will give people flexibility. we want people that only own one vehicle to have comfort, and feel secure that when they purchase and ev vehicle, they will not be stranded.

>> let's talk about autonomous. we were in san francisco. you look up, and within five minutes, you see one of yours. they are everywhere. where is that program? >> we got our permit. we are giving commercial right rights. when people get a ride, they say this is amazing. the vehicle drives so well. it is a game changer. we have been continuing to expand. we plan to be the full seven by seven of san francisco. we are on path. >> the safety record of the machine versus the person? >> we know from the information collected, 90% of fatalities in the u.s. are caused by human error. in autonomous vehicle does not drive distracted or under the influence of anything, and it

knows the traffic laws and rules. it's like a perfect driver that is always paying attention. >> you did pre-announce that you would not make the projections. at the same time, the reasons seem simple. you have one big problem, you cannot get the parts. give a huge number of cars that you cannot finish. when will the nightmare end? it has gotten better this year. this will go into 2023. is so important that we get chip manufacturing in this country. we also announced, we are standardizing three families of semi conductors. we will have a lot more scale going forward. right now, we solve issues and new ones pop up. we are dealing with this on a

weekly basis. >> weekly basis? >> yes. >> something else bothering me, we have a strong dollar. there have been tariffs on china when china had the advantage. we like our partners in europe, and we like japan, but the companies to make cars in those areas are crushing us, because of our strong dollar. is there anything that anybody can do in washington to help? to make the overall state of the economy, the global economy with inflation, and all of the challenges, we are in unprecedented territory due to what has happened with the pandemic, we are seeing the effects of the pandemic. in addition, all of the supply chain challenges we have had. what we are seeing, we watched as closely, we are seeing very strong demand for our products. our inventory is very low. it does not help when we have to build shy. we will be building out in the next quarter. on july 1, we are reinforcing

that the guidance for the year is intact. i got this on july 6, you delivered 484 vehicles in china. we worry about how many cars that elon musk will make. i want to write this picture up and make it clear, that is a gigantic number of cars for a lot of people that feel like the country shut down. >> yes, we have a successful is this in china. that is the strength of the chevrolet, buick, cadillac brand. we have been there for 25 years. we are number two in the market. we have a lot of electric vehicles coming out, belt off of our platform. we are seeing a huge opportunity to grow as the company ships to electric vehicles. >> while this is happening, the fed wants to raise rates, fiercely. financing is important to purchase a gm car.

is there anything that could offset that either? >> again, we are still seeing a variant is asked to consumer. again, we cannot make enough full-size pickup trucks or suvs. the demand is strong for some of the vehicles that are on the premium side. people don't just drive trucks the need it for work purposes. in many cases, trucks are the new luxury sedan. >> i know that to be the case. are you making a lot of money for electric vehicle? >> we have said, as we get into the mid decade, it will be 60% lower. if you think about the one out now, and you look at the one we just released, we don't talk about individual product line profitability. the battery cost of 40% lower from what we had during the

bolt compared to the lyric and the hummer. by mid decade, we will see another 20% opportunity. it will be 60% from where we are. we need to improve the cost of the batteries. that will lead us to be able to maintain margins. at this time, we are working hard to maintain similar margins, as we make the transition. >> you did do a breakthrough deal for materials to ensure you have rare metals that nobody else has. how is that working out? >> we have done nine deals. we are looking across everything we need to make electric vehicles. in this space, we are still securing more and more production. now is an interesting time. lithium and nickel are the two that are the most talked about. we will talk about this during earnings in a month.

>> let's go full circle, every single one of these issues, you have great demand, you have a great product lineup. you have self driving, you have great electric vehicles and a great deal with pilate. your stock is the lowest price earnings multiple in the new york stock exchange. something is wrong with this picture. maybe you will do a special day with us, i don't know. it bothers me. your stock is too cheap. i struggle over it every single day. >> i might be the person that is struggling more with you. what we will do, we will just execute. we know we have a winning lineup. every product we launch, whether it is the hummer, or the lyric, and the blazer is coming out on monday. we have products that we know people want.

we see it with the number of orders that are in. as we deliver on the promise to expand this, the vehicles become a software platform. we already have onstar. as we build on that, we will prove to people, general motors is a company that they should own. we can unlock incredible value. >> when the hummer first came out, i wanted it, but it was eight miles to the gallon. now, my wife is tried one, you have a head turner. how many head turners can you make in the next year? i'm sure everyone would be sold the moment it left the dealer. >> i agree. but the hummer, we are out a couple of years. we are looking at increased production for the hummer truck. we also the hummer suv. we have the lyric. and we have bright drop. that is total growth. we have

big orders from our customers. we also have the silverado coming. that will be a truck with no compromise. the same attraction the people love about the hummer will be on the silverado. we have the blazer, the equinox. after that, we will have the gmc sierra pickup truck. over the next year and a half or 2 years, every vehicle we put out, including the cadillac will be a head turner with strong demand. >> all i can say is, yes, you execute, and you get it done. you should be very proud of all the changes you have made. you are at the cutting edge of everything that america has to offer right now.:i appreciate you saying that. i am excited. our team does an amazing job. i think we have the best engineering team. the entire gm team on the field, and the manufacturing team that worked so hard to build high-quality vehicles, cannot be more proud of them. she is a chair and ceo of

general motors. perhaps one of the most undervalued companies i have ever seen in my career. "mad money" is back after the break. bubbles bubbles so many bubbles! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing

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, the total meltdown in stocks of her eight months has crushed so many of the alternative energy plays. they were red-hot in 2020 and 2021. that includes plug power. that is new york's best technology for the hydrogen fuel cell. it makes its money from hydrogen powered forklifts. if we ever embrace this green fuel source, they can make a fortune. the club powers stock lunch

from its high last year. it has rebounded more than five dollars from the low in may. i want companies to make a profit. i don't have that, i am a big skeptic. is it possible that the worst is over for this one? let's look at the current president to take the temperature of the company. welcome back to "mad money". >> thank you for having me. >> andy, we have the since that when natural gas goes through the roof, plug power is a good alternative for energy. can you explain the economics of the two, and white is great news for plug power? >> i could tell you, i was in denmark about two weeks ago. they explained to me, but the price of natural gas and renewable electricity, hydrogen

is lower-cost than hydrogen made from natural gas. it is simple economics. it is good for plug power. i think it is really good for us. >> let's talk about this energy. the deal, is this a template for the future? >> this is backed by traffic order. that tells you what kind of folks are involved in this project with us. if you look at denmark, i was with them energy mr. of denmark, they are building 60 gigawatt wind energy. most of that will generate hydrogen. they are building a hydrogen pipeline that will go into germany to be used by people like phillips 66, another club partner. by moving energy via hydrogen, it is one 15th the cost of electricity. it is a win for denmark and a win for us.

we did mention that you are to be on this morning. she said, we would ask him, does he have a lot of competitors? is that why the stock is at 17? are other companies doing what he is doing? it is a legitimate question to ask you. >> that is always a legitimate question. i can tell you, i focus on customers. i focus on customers like h2 energy. i focus on customers like amazon and walmart. that is who we are building the business around. when you look at what we are doing, we are building the first green hydrogen network across the united states with 500 tons by 2025. we have a huge deal in belgium at the second-largest cluster in the world. i am doing things, and other people are talking. >> you are reaffirming the 2022 revenue targets they were

given. it is still a possibility. can i use as a northstar? should we back away from it now works >> you have the northstar. just in the last 30 days, a book numbers in the business that will allow us to do hundreds of megawatts of these this year. last year, we did very little. yes, that is a northstar, and i stood behind on the call today. i will stand behind it during the earnings call in august. >> went to stand by something else, the wall street journal did a piece called ceo stock sales about insider trading. they titrate the automatic trading plan to allow you to sell 40% of your holdings. united $36 million. subsequently, things happen to the company that were disturbing. it caused the stock to drop.

when you read the story, where you surprised that you are the poster boy? i think the viewers are entitled to a bit of an explanation on how you got out of a lot of the stocks before it dropped, and they weren't. >> i traded under the proper plan. more than half my wealth is tied up here. >> will be sure, this is not anything that you were called on, it is legitimate. no calls from the fcc about this? >> i have not had a personal call on that. did that mean they called the company? >> there are no issues. >> that's fair. what matters, they called you, that they thought it was untoward, i know they would do that. when you look at the next big thing, i go back to what the united states is doing, i'm

looking at senator schumer being excited about mono county being the capital of hydrogen, because of you. now you have a pennsylvania deal. one part was where i am from. one part did not work out. it looks like there is in a mental issue, it was not clear. is that significant? student we will do a lot of projects. we have 500 tons across the u.s. we have 70 tons this year. it was an environmental issue there with permits. it was somewhat of an issue with it being delayed. we decided to move on. >> let me tell you, let me also add, that is good business. if something is not working, it is good to raise your hand and say hey, let's not just push. going your positive growth margins. you cannot be fighting in lancaster to get your margins. it sounds like things are more

than on track. i'm glad the stock is low. people don't like companies losing money. if they like hydrogen power, this is the only way that i found to play it. thank you. i'm glad you came on the show. >> thank you. look, does make money, but it will almost have 1 billion in revenue. the company's it'll make money, it is very tough to own. that is andy marx, the ceo of plug power. ♪ i may be close to retirement, but i'm as busy as ever. careful now. - thanks. -you got it. and thanks to voya, i'm confident about my future. -oh dad, the twins are now... -vegan. i know. i got 'em some of those plant burgers. -nice. -yeah. voya provides guidance for the right investments, and helps me be prepared for unexpected events. they make me feel like i've got it all under control.

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it is time for [ indiscernible ]. are you ready? >> thanks for taking my call. >> thank you. >> this past year, my question is on lemonade. >> those guys made lemonade into lemons. >> i am calling from new york. [ indiscernible ] i am loving it. here's my question, i am considering wn be. were going to james. >> i love it. >> [ indiscernible ] >> was go to judson in iowa. >> i am bullish on the security

sector. >> cochair is number two. >> i am deeply honored to be talking to the smartest and busiest business guy on television. >> i wish i were, but thank you. >> i'm calling about the good old standby, at&t. >> don't do it, i would rather be in verizon. that is the conclusion of the lightning round. >> the lightning round is sponsored by tg ameritrade. >> i am jim cramer, welcome to "mad money". >> i now pronounce you man and all.

let's take calls, who is buzzing me? who is buzzing me? which one of you?

hello, i am calling from california. this is tim cook at apple, want

to congratulate you on 10 great years of "mad money". [ applause ] wow! we've had it with these price increases. cosco's business has gotten stronger and stronger. that is where you go when you can't take it anymore. costco's unique membership model allows them to sell the highest quality generic product under the kirkland brand. it is every bit as good as a namebrand stuff. you get chicken, reports that this had to do with the 60% increase in chicken cost this quarter. cosco built a facility that processes 2 million tickets per week, allowing it to sell the rotisserie chickens for less than the competition. they cut out the middleman. [ indiscernible ] the

competitive advantage is one of the reasons why the ceo sounded confident this week. costco is the place to go to avoid the myriad price increases. you trade down to kirkland. we will know when inflation runs its course when the price increases cannot be sustained. everybody will go over to cosco. that is part of the process. the problem with this bout of inflation, there is been almost no trade down. the consumers have not started to change their behavior to push back. believe me, it's coming. the market is beginning to anticipate it. people are purchasing up on dollar general. as prices go higher, people get more frugal. with the exception of the boom at cosco, i don't see it. this great company is selling

stock. what will tells when the trade down has arrived? i like to see the decline of high and restaurant spending. that's the easy thing to cut out. maybe american express will take the other side of the trade next week. maybe visa or mastercard can give us insight. we need to see a decline in travel. that hasn't happened yet either. we are looking at higher sales of knockoff rants. why hasn't that happened? i think people are living off of the fat of the savings they had, because they did not go anywhere for 2 years. and the government stimulus checks. the checks stopped while ago. consumers were sitting on the money for a long time. there was not much to spend it on. when the money runs out, which will likely happen sooner rather than later, you will see major consumer pushback on inflation. you get the pushback and the fed will not raise interest rates as aggressively anymore. in the interim comments about

going to cosco. it is not too late to buy it. now, but the last time from our amazing set, my america's first home, i like to say there is a market somewhere. i try to find it just "the news with shepard smith" starts now \s every message that secret service agents texted during the insurrection at the capitol and on the day before has been erased i'm shepard smith. this is the news on cnbc. president biden says the u.s. could use force to stop iran from getting a nuclear weapon. >> that's the last resort, yes. >> the division on display today between the president and the israeli prime minister, and a preview of president biden's trip to saudi arabia. russian missiles strike in central ukraine, far from the fighting in the