are you happy or not binary. >> everybody loves the padres. >> lockheed martin back to you, dom. >> thanks, guys for watching "fast money" and for having me here tonight "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's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make a little money my job is not just to entertain but to educate, teach, put in context. call me at 1-800-743-cnbc or tweet yes @jimcramer all right. i'm sick of it

i'm sick of this endless parlor game where we guess whether or not we're in a recession or how deep the recession will be it's becoming deadly even on good news like today where the dow gained 184 points. s&p advanced nasdaq jumped 1.13%, in fact the session speculation is the one universal that binds everybody from analysts to commentators to home gamers we just can't seem to help ourselves. all i can say is that if you want to make something self-fulfilling then keep talking about it morning, noon and night. even if it's not inevitable, the relentless recession chatter might make it inevitable so i'm not playing that parlor game no, i'm not just whistling past the graveyard either i realized we got that inverted yield curve where the short rates are higher than long

rates. i can read i know that's a real bad sign for the economy. although i pointed out that the inverted yield curve has indeed called 12 of the last six recessions i expect the fed to talk tough next week. that's what they do. it's entirely possible this overheated economy could derail, crashing into a gigantic retaining wall at 90 miles an hour but how about this how about this i'm starting to see things another way. see, it's also possible that the fed hunkers down because they recognize that we're all so scared by the ceos, we hear the doom and gloom is palpable and it might be enough to put a big enough dent in spending and into our psychology to let the fed beat inflation without destroying the whole economy pollyanna, listen to me. basically the fed doesn't have to bring the pain if we inflict the pain on ourselves. and i think that's exactly what

we're doing. i am not saying this -- >> the house of pleasure >> i am saying that this -- >> the house of pain >> -- could be wrong >> they know nothing >> where do i see it happening better to ask where i do not because it's everywhere. let's tackle them one by one first of all there's a widespread belief that food prices have soared and are never, ever going to come down, right? we had wingstop on earlier in the week and the ceo emphasized they're cleaning up. why? because chicken wing prices have plu plummeted. it's not just chicken -- by the way, it's not just the wings the whole chicken goes with the wings. and it's plummeted we've now seen a sclaps. here's one you haven't heard did you know that reit prices collapsed? do you know they're at 14-month lows do you know there's actually a glut of wheat in russia? wasn't that supposed to be where the shortage was coming from and they've got the glut

you could say -- oh, wait a second, that's just weiheat and that's just chicken. no, you're being way too glib. wheat and chicken are huge plus the substitution class you might have missed that i didn't. you don't need to pay for beef if chicken's coming down for price. that will lead to a glut in cattle it's an even bigger deal too much wheat leads to gluts in all the other grains too these are meaningful moves, people, that are being completely overlooked by the bears, the bears who are trying to scare us, the bears who have the microphones, the bears who would let us think that you know what, yeah, he they believe the fed has to run us over, throw the car in reverse and then run us over again. hey, speaking of running people over, you see the -- not that long ago the electric vehicle companies raised massive amounts of moneys. get this now some of those, the ev kinds,

are starting to turn into real cars real functioning companies with assembly lines that are produce things while most of them had horrendous problems going to market we have fisker's and lucids and rivians galore at this point next year you'd better believe the price of evs is coming down, maybe way down then there's oil and gas everyone's talking about oh, i spent this much at the pump. will you wake up, please have you seen this they totally collapsed when we broke out over 100 earlier this year we heard endlessly it was heading to $150 a barrel if you you remember this you might want to get your head checked. it's kind of like getting your oil checked. they still do that, right? they got rid of carburetors, you know anyway oil's come down to 71. and if the oil stocks are telling the trurkts which they certainly are, we're soon going to see gasoline at $3 per gallon of course while soaring prices at the pump make for a sexy story, falling prices at the

pump are incredibly boring dog bites man kind of. you know what i mean but i find it hard to get too worked up about inflation with the price of gasoline plummeting that pipeline spill didn't last past midday. that's how much oil there is it's everywhere. but not a drop to drink. thank heavens. i think it looks 60-ish to me. heating oil was supposed to be expensive, making it hard for people to make ends meet now the stocks are trading like natural gas is on a collision course where it was last year. maybe the bears just choose not to notice. okay but maybe the fed will in the last month so many of the ceos i talked to have said it is no longer difficult to find workers in a complete panoply of industries many people are coming back to the office because the benefits are exhausted. others need to pay off expensive rent or debts they accumulated over the past two years. jobs are being filled across the

whole span of the economy even as we're constantly being told that wages keep being bit up what a narrative that i'm sick of if the labor shortage goes away, so will the most difficult part of inflation wage inflation how about these used cars? they've been the bane of the consumer price index because their price just kept going higher and higher.ou know they months ago do you know the price of a used car is in freefall where it was 12 months ago and those year over year declines are getting larger plus it looks like this carvana might be in danger of going under. if that's true we could be looking at a used car glut in a matter of days as they are a vast repository of once new cars it's become problematic for most home buyers who can't afford to keep up with an increase in mortgage rates but unless you're in the business of real estate you might not recognize that the current slowdown in the pace of sales will lead to a cascade of

price cutting. that's how every real estate down cycle has played out in the past the process of buying and selling real estate is a big production in everydownturn i've seen first you get that freeze where transactions stop happening. that's right now then after months of this the sellers finally break their discipline and they start cutting prices, leading to a collapse practically overnight we're on the cusp of that right now. there are other gluts all over the place. you can see them from ads, the decline in pc prices, their components there's only about 30 million of us but we're strong. and we just got our flyers today. i'm starting to see discounts not just in appliances, which are coming down big-time, but get this, toys galore. and even despite the upgrade in hershey's today candy. bottom line, you can say these are all one-off, go ahead, go

dismiss me as anecdotal, not empirical. but to me the writing's already on the wall. it doesn't have to be a recession. the economy just needs to stabilize at a lower level, which i think is already starting to happen this is the winning hand that nobody planning the recession parlor game seems willing to acknowledge even as i bet it's going to become the most likely outcome. mark in washington mark >> caller: hey, jim. greet from spokane, washington >> love spokane. been there many times. it's dine oh mite. what's up? >> caller: next time you're in town give me a call we'll have dinner >> i'll give you a jingle. what's happening >> caller: jim, despite supply chain disruptions and infl inflationary pressures snap on still reported decent q3 earnings pretty much across the board and given its premium pricing i'd be interested in hearing your current thoughts on sna as we -- >> okay, i got it, i got it.

14 times earnings. there was a group of short sellers who ganged up on this thing endlessly and it kept it down and they've been busted and that's why the stock's going higher listen to me, it doesn't have to nand recession the economy just needs to stabilize at a lower level which i think is starting to happen. on "mad money" tonight an interview you don't want to miss some tough questions for salesforce ceo marc benioff. >> have there been major defections of customers, major defections of shareholders because the publicity involved with brett's departure and with the departure of other executives >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter tweet cramer #mad tweets. send jim an e-mail to mad ssnecn.c me something

head to madmoney.cnbc.com.

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it's been a rough week for salesforce the company reported a solid quarter last week. it was all overshadowed by news that co-ceo brett taylor's leaving. big surprise and we keep hearing more about grumblings about executive turnover meanwhile the stock, it has just been slammed although we just spoke with salesforce last week i wanted to circle back on this one. and today we he had a good chance to check in with marc benioff, the co-founder, chair and co-ceo of "salesforce, which my charitable trust owns he was in town for his salesforce world tour. take a look. >> marc, i am at this -- >> jim, welcome. >> thank you >> can you believe this, jim world tour it's our biggest world tour ever

in new york city >> and i am thrilled for you but here's what we're going to do we're going to answer -- >> and we're happy everyone's back together. look at that no masks >> but how about we deal with some of these issues >> sure. >> getting past us for people like me, my charitable trust -- >> more issues >> we're going to deal with the issues of the day. and we start with tensions growing at salesforce between co-ceos benioff and taylor ahead of the leadership change this article, first of all, is it true and second has it impactedfully of your customers? >> well, jim, you know, we talked about this the last time we were together i'm so grateful for brett. you know how much i deeply love i am and -- >> but he's not here >> and stewart too >> but brett's not here. >> he's not here that's the sad part. but you know what? let me tell you what is exciting what's exciting to me is that we're able to have all these great customers and also we're introducing this amazing new data cloud today that is what's exciting. that we're moving forward with

new products, new technology, we're executing on our fourth quarter. this is what's really powerful >> but what's terrific would be to put past things so you wouldn't have to speak to them again. that's why i'm going to ask, some people are saying that you have difficulty working with co-ceos. keith blorks whom you ent deuced me to many years ago, and then subsequently brett taylor. and that because of this we have to question whether the company is fuchfunctioning as best as i can. >> well, i love both of them we just had a great quarter. you saw almost $8 billion in revenue. our highest operating margin ever 22.7%, jim i think you remember when i first came on your show, operating margin was 10% and revenue was less than a billion. since then we can run all of those. but the reality, jim, is we have a lot of great people in this company. we always have and we have a great management team we've got 80,000 great

employees. and we have all these great customers. and that's the magic that makes salesforce -- >> okay. well, are some of the customers being -- questioning the company as there are stockholders? even my own team this morning on "squawk on the street" saying jim, look at this chart, look at how poorly this stock has performed, why are you standing by it? i said i've liked it since $8. but they're questioning saying look, maybe the company is a changed company, maybe they're in disarray because of the departures maybe that's what starboard is concerned about. these are questions we can answer once and for all and you can say jim cramer asked me all those and we're done with that >> it's the fastest growing enterprise software company of all time we just hit a record operating margin it has phenomenal customer demand it has the best products in the industry it has the best management team. and by the way the profitability -- look, i have two goals. >> okay. >> i'm planning for this to be the second largest software company in the world

>> and will you run it or are you now -- >> i'm running it right now. i'll run it forever if i have to >> a lot of people felt brett taylor, ten years younger than you -- >> i've been running it for 24 years. you know that. and jim, not only -- look, my plan is i want to be the second largest software company in the world. i want to be the most profitable -- >> in revenue, in earnings or in market cap because remember, you're a dow stock. stock's been cut in half from november of last year. >> we want to be the largest in the world, second largest in the world. probably hard to beat microsoft. they're quite a bit larger and we want to be the most profitable company as well >> it sounds like to me that the story about the vast number of departures could indeed be overblown and there may actually be underneath this so-called rubble a stock worth owning. >> 19% revenue growth in constant currency this quarter, look -- >> two years ago you were -- i mean, you've had -- there's not

the growth trajectory but that could be macro headwinds or some people are saying the turnover >> since april first we saw the currencies in april. remember -- >> the first quote >> the famous quote we said we had a great quarter in q1 but the u.s. dollar had a better quarter. then the second quarter we came in and said you know, it seems to us like there's a more measured buying environment, there are some things going on look, i'm talking to customers every day. and then the third thing we saw in the third quarter was a more measured environment and we realized that ceos are kind of buckling down. they kind of saw there's a storm ahead, they're not sure. the stocks are down. we're not the only stock down. >> but you were buying your stock because it's down. now, is that because you believe when we come out of this period we will look back and say you know what, you were in touch with your customers the whole time, you knew that things were better, you knew that things were overblown in the media,

that stories about you and -- >> and one more thing. it's also reducing dilution, making it better for shareholders because shareholders want to have less dilution that's one key reason why you want to go and buy stock >> now, when you were thinking about buying twitter there were shareholders who were angry. are any of those -- >> oh, my gosh, we're going back leek a decade. >> because you see i am also a rigorous journalist -- >> i listen to my shareholders >> are they comfortable with what they've been reading and the departures >> nobody ever likes change including me you know that. that's the nature of the market. but the reality is things have to change and sometimes only the constant is change because when you're an innovative fast-growing company and you're attracting all this amazing talent including a lot of young people, young people can make different types of decisions but you have to be able to let them go on >> you digitized the large

banks. >> i was with brian moynihan yesterday -- >> did brian say he was worried about what happened with brett taylor >> no. brian and i have known each other for multiple decades >> i'm trying to be -- >> no, look -- let me tell you why brian moynihan stands with salesforce on bank of america. first we did merrill lynch you know that. >> yes, i do in your book you're very honest about the travails and then the success of that story. >> we are now their crm standard really important also i had a great meeting with charlie wells. amex we're their crm standard that's the most important thing, the customers. by the way, it's why i love coming to new york all the customers are here >> and are the customers saying how does jim farley use genie to triumph? >> jim, this is a miracle. customers for years have said to

us you've got killer apps, sales cloud, service cloud, marketing, commerce, platform you've got an amazing platform to customize these apps, vertical apps like the financial services cloud, health care cloud, consumer products good -- >> seven clouds all under one roof >> but we've never had a lake house, which is a place where you store all your data, a data cloud like a data warehouse -- >> like frank shootman of snowflake. >> our lake house or our data cloud it actually will mirror with snowflake so you hit a switch and it can keep a mirror with it. but our customers also like to keep a lot of our data in salesforce >> so formula one, which is run by a technology person, how does formula one use genie to be able to make it so that wherever they are they sell out and they're beloved? >> well, the really cool thing is before formula one had to have a separate data warehouse they had all of the salesforce information. >> where was it located? >> it's a whole different team,

a whole different type of technology >> so more expense >> then because we have tableau, we've taken tableau, you know the mistake that tableau made originally -- >> when -- >> they had a great product. a client, a visualizer but what they didn't have, jim, was a server a place to store all the data. they let everyone be the data warehouser, data base for tableau or data cloud. now tableau has a data cloud it's built integrated into salesforce >> are you getting new customers who would not -- otherwise did not find this attractive are you getting them now is that what some of this is >> i think that this is our most exciting moment because we have the apps, we have the platform, we have the vertical apps, which our biggest seller of this quarter is everybody wants faster time to value

we also have tableau, mulesoft, slack. and jim, look, we're at a time when people want to save money they want to deploy this technology quickly >> right >> they want to go and you've been to a lot of these world tours. have you ever seen a bigger world tour than this >> no, i have not. but let me ask you, perhaps there are some departures that might be of people who didn't buy the vision >> what's that >> they didn't buy the vision. >> you mean our competitors? >> no, i'm saying there are people who might have worked with you who didn't see what you and i are seeing i say i because i've been a customer >> i think it's amazing when you look at salesforce over 24 years, that we've become the number one crm, that we're going to do 31 billion in revenue this year, 22.7% margin, strong cash flow, $40 billion -- >> which is one third of the market cap >> that hasn't been recognized but ultimately it's in the ice and hearts and minds of all of

these people that they've got a lot to do in their businesses. because look, our economy, it's not perfect, we all know that. but when it recovers, the most important thing, jim, is that you hold on to your customers because then it's your customers that will grow with you. the number one mistake that companies make in this type of situation is to disinvest in their customers or disinvest in their distribution organizations. don't do that. you need to grow, expand and get ready to pivot for when the economy grows. >> all right then let's go over this one more time so you'll never be -- you can just say i said it to jim cramer have there been major defections of customers, major defections of shareholders because of the publicity involved with brett's departure and with the departure of other executives? >> our customer attrition rate is at a record low >> and shareholders. >> and our customer satisfaction is at a record high. and look, this is just -- it is what it is people come and female go. but the most important thing is

the success of the customers, the greatness of the products and the technology and also that we operate with our core values. trust, customer success, innovation, equality, sustainability since 1999 our company has been built on a bedrock of core values that we execute through through and through and through. and that is what has kept us going. no one else has anything like that >> and this is why shareholders need, need to hear -- my trust is a shareholder >> i'm a shareholder too >> right but there is what does matter -- >> what matters is we're building a great company on great values with great products and great customers and a great management team as well. and those are the five things to build a great company for the future, and that's what we have. >> thank you, marc benioff >> jim cramer, i always love% being with you >> ceo of salesforce >> i was happy you could come and see this great world tour. you're the best.

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at this point everybody recognizes the flash in the pan covid stocks, zoom, peloton, docusign, roku they rallied hard during the worst part of the pandemic then came crashing down to earth. for over a year now they've been some of the worst performers out there although hey, how about this in docusign this very evening reported a fantastic number and it's starting to look up but it is on its own in this group. but there's also another whole group of covid winners that have seen their stocks bottom in recent months and started making incredibly meaningful ral liszt and nobody's talking about them. they don't get too much attention. too much rubbernecking everyone wants to stair at the ongoing disasters. they don't want to focus on the opportunities. that's not the "mad money" way those stories are real

okay and let's go through them. that's why tonight we are highlighting some of the real comeback kids, especially the ones in the e-commerce spays, because there are a surprising number of recent winners clustered in that abandoned group. they're not getting the attention they deserve and i'm talking etsy, shopify, pinterest, bacardi leibre i wouldn't be surprised p f. these comeback kids don't even have more room to run. let's take them one by one starting with cramer fave etsy yes, down the block from me. brooklyn-based online marketplace for all sorts of handmade goods what a fantastic place to shop for the holidays because it's all handmade not too long ago etsy was written off as another covid play saw its sales get a boost during the pandemic remember the mask thing? only to have the business fall off a cliff as the world went back to normal march of 2020. so you go back here. and then all the way up to 307

at its peak a little over a year ago when so many of the high growth stocks peaked plummeted to $67 at its lows in mid-june giving it up wow. look at that decline this stock tried to rally over the summer but then the rally fizzled around 120 in august along with the rest of the market fast forward to mid october. all the major averages were setting new lows but not etsy. and that was the tell that you needed it only pulled back to 87. since then it's caught fire surging all the way to 142 intraday on monday i don't know if you saw them today, josh silberman was on with sarah and i thought it was very dynamic this has pulled back to 134.50 after the marketwide sell-off this week. still at this point the stock has more than doubled over its lows from the summer and it's up more than 50% since early november of course etsy's nowhere near where it was trading at the pack last year, though, but that's still a pretty darn convincing rebound. look at that run, huh? when you look at the numbers it

makes perfect sense. etsy's now turned in two excellent quarters in a row. early last month they posted a top and bottom line beat with 12% revenue growth, i like double-digit, that's a nice acceleration billion-dollar impairment charge they took on their acquisitions that i didn't like at the time deep pop and elo-7 that's the brazilian etsy. 21% earnings beat on -- wish they hadn't done those deals management gave very bullish guidance for the current quarter. the stock's been a juggernaut since then and i think a big part of that is because etsy's put wall street's biggest concerns to rest the main one was as the world went back to normal etsy sellers would give up their passion businesses and go back to their own jobs that has simply not happened etsy has 7.7 million active sellers in the first quarter and it's only pulled back to 7.4 million active sellers in the most recent quarter. there was a dip and not a huge one. sometimes when you think about where do people -- you ask did they go back to work, a lot of

people have gone to etsy and really demonstrated that they have a craft and that craft can make it so that they can live. i love that. second orry, tons of these e-commerce companies seem to believe that covid-era numbers were a permanent boost, not a one-time thing etsy was never one of those companies. they knew it was temporary and they took action to make sure they keep putting up good numbers. for example, raising the service fees, which is how they gave you 12% revenue growth this past quarter. very little resistance finally it helps etsy's been profitable over this entire time while it was overvalued at the peak last year the stock's gotten cheaper on the way down although it's still very far from a jewell play it's not crazy expensive. 45 times earnings. if you called in on a lightning round i would say outer limits of what i say but still within the limits plus next year the company will put the rough cove i. era comparisons behind it which should give etsy much stronger growth year over year. how about one that is so

controversial even today shopify. the e-commerce enabler for small and medium size businesses, canadian company this had a huge run because of covid as every business had to build a digital operation to stay afloat. which is how shopify rallied from $30 in march of 2020 to $176 at its peak last november remember everything peaked in november of course then it gave back the entire gain. plunging all the way to $30 in june then sinking to 23 in mid october. that's awful where it finally bottomed. and it got down here i remember there were companies who thought adobe would come in and buy them up here and now look at this it's all the way down here in the last couple months shopify's charged back to 39 for 65% gain what's fueling this move first of all, shopify reported a horribly disappointing quarter and they kept spending like a drunken seller to produce revenue growth the last thing wall street wants to see in this environment

but eventually shopify got religion in july they announced layoffs making up 10% of their workforce. management admitted they got it wrong and decided to recalibrate. yes, that's what we're looking for. so when shopify reported its most recent numbers in october they looked a lot better with basically in-line revenue on a smaller than expected earnings loss more important, last tuesday they released some black friday stats and these numbers were pretty good, including sales up 19% year over year nice growth. of course shopify is not yet profitable it bothers me. so it's still hard to val yooup and inherently risky the stock just got with this sales warning from ubs they're slapping a $30 price target they believe they haven't gotten religion on spending i disagree i think shopify understands the need for profitable growth and i really like the black friday numbers. to me shopify is another one of those companies where it's really dawning on them all right, wall street wants us to

make money, we'll go do it what else? last time we spoke to one i was kind of blown away by i don't know if you felt the same way. pinterest. the online image board play moving from an advertisement-based model to a more commerce-centric one. i don't want to go into too much detail because we just spoke to new ceo bill reddy last night but he's doing a good job of putting up solid numbers i like he's cooperating with the analysts at elliott management i think it could be a big story next year. finally let's not forget about the uruguay-based company that's basically the amazon of south america. this thing was a huge winner in 2020 and 2021. peaking at 2020 earlier last year before plummeting to-600 and change libre's been putting up great numbers in the most recent quarter. they delivered 66% revenue growth, 33% earnings growth. this is an company that's

struggling this is a great long-term road story. it has been since i invested in it hedge fund management where i was one of the original investors and i'm proud of that. the only problem is it ain't cheap. trading at 65 times earnings estimates. bottom line most of the covid stocks are still in the doghouse, where they belong. thank heavens docusign might be out of it. but some of them started making real comebacks i think you have more room to run and in particular i like etsy and more importantly pinterest and i think the latter is ai buy right here right now let's r. let's go to tom in illinois tom. >> caller: jim thanks for taking my call. >> no problem. what's up, tom >> caller: amazon, the critics have been pretty tough on it the last couple of months. i wonder what your take on it is >> first of all, you're absolutely right they have been incredibly tough. it's down 45%. my charitable trust has a nice size position in it. we did take a number of profits.

i will tell you this, amazon is run by a guy named andy jassy and i think he's going to rationalize the table of employment and make it to l. so the revenues are not going to be exceeded by the expenses so i think buying amazon here is a lot better idea than selling it that's my advice some covid stocks deserve to be in the doghouse but some are making exciting comebacks and got some room to run especially i think etsy. and to buy right now is pinterest. much more "mad money" including one we haven't had on before i'm finding out the real story from the company ceo then i read last night's conference call out of gamestop and i have one word to describe it i'll tell you what, i'll reveal it when we get to it and then we've got your calls, rap ifd-fire tonight "lightning round." so stay with cramer.

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even in a bear market we're always on the lookout for new ideas here and recently we've been hearing a lot about a company called progeny p-r-o-g-e-y-n-y, which came public just three years ago. this is a fertility benefits magnum play. employers contract with them to handle fertility and family benefit solutions. in a tight job market this kind of thing can really help businesses recruit the best people we recommended progyny around 20 bucks in 29-2019 but then the pandemic hit and he we never circled back to it we should have had

it's now back to 3 and change. some of that's because wall street turned against growth stocks and some of it's because we're worried about a softer labor market as the fed keeps slamming the darn breaks on the economy. and maybe it's worth taking a chance on this one given that it's still done more than 50% from its peak that's why earlier today i sat down with pete adnevsky. he's the ceo of progyny. to get a better read on his business >> mr. nevsky, welcome to "mad money. >> thank you, jim. thanks for having me so much big fan of the show. thanks >> oh, thank you this is your first visit to "mad money. so if you don't mind i'd like you to just kind of tell us how progyny benefits work. >> sure. fertility treatments are complicated and the journey going through them is complicated. so what we've done is we've put together a design that has three components one, when a member utilize their

benefit they get assigned a dedicated patient care advocate. that advocate helps them navigate the journey, which is complicated. our plan design is very flexible in order to be able to handle all those complicated journeys and i bring that up because traditional health plans, which is the alternative to progyny, is a one size fits all health plan and the last piece we have is a proprietary network and that proprietary network we work with to make sure that they're complying with best practices, all of which drive superior clinical outcomes, which we've been achieving for seven years in a row, and we're the only fertility benefits provider in the u.s. that publishes their outcomes >> well, that has clearly helped you because i'm looking at your growth 282 clients. up 50% from 188 clients that you had at the end of september of 2021 growing you anticipate to 370 clients. and these, by the way, are not small clients. a lot of these are companies we've heard of, correct?

>> correct correct. they're in 40 different industries companies that you would have heard of an example would be nike, university of texas, target, et cetera there are many, many companies you would have heard of. they're all when we count our companies, they're 1,000 employees or more. and next year those 370 clients will represent 5.4 million lives. and all of that's happening because of the macro trends in the industry and they continue to drive our growth. >> okay. so let's say what happens, so many people are talking about recession every day. there's a period where it's been very hard to get people and i think that progyny would be a fantastic benefit to attract people do you think progyny will work the other way, it will be something that's cut back if there are foo few people looking for too few jobs >> it's a great question and one we get regularly from investors. what we've seen and we've experienced is not that at all

family building is a very important part of people's lives and employers recognize that let's take first, for example, our existing base of clients we've retained 99% of them and none of them cut the benefit pack at all for next year. and in fact, a third of them added something to the benefit and when you take the new clients that we saw, the 105 new clients for next year, half of them are companies that were already offering the benefit in some form but the other half weren't offering it at all so to the extent they have concerns around a looming recession, they feel it's more important to offer this benefit because this is one of five benefits that millennials are looking for based on benefit consultant studies that prubld out there. >> i want to be sure, this is not just something for so-called men and women. it's same-sex too, right i mean, you -- the gay and lesbian community is treated equally by progyny >> yeah. progyny from the start, even

before it became popular, was always an all-inclusive benefit. definitely covers gay and lesbian couples, covers heterosexual companies, single moms by choice, covers all people that may have different challenges, whether they need to use a surrogate-a dopgs, et cetera it's a full benefit that covers your entire population and it's one of the other unique things we do vs. all traditional health plans >> there was a short selling report about some accounting change i took two years of accounting and i really didn't understand what you did wrong if you did anything wrong at all. was there anything you needed to do in response with the s.e.c. or anything after that report came out >> nothing you're referring to the report that came out as you said from an anonymous short seller that qu quoted anonymous people. and i wouldn't give credence to that report. we haven't >> i'm glad you wouldn't because it makes no sense to do so when

someone obviously is short and does not necessarily prove the case very well i'm a viewer of what people could say things that are wrong. and to me i didn't see you do anything wrong at all. i want to thank peter an vsky he's the ceo of progyny, which i think is a great company with a great concept. thank you for coming on "mad money. >> we appreciate it so much. have a good night. >> very good "mad money's" coming back after the break.

if your company actually practices the values that it posts about, then, yeah... you're on team earth. it is time it's too many for the "lightning round" -- [ buzzer ] and then the "lightning round"

is over. start with brett in new york brett! >> caller: boo-yah, jim. how are you? >> i am doing well, brett. how are you? >> caller: pretty good had i my question is cvna. carvana. >> this is an option it's too hard for me i think it can go up, down three. we're looking for high-quality situations and that ladies and gentlemen is the conclusion of the "lightning round" >> "lightning round" is sponsored by td ameritrade coming up, has this company tapped x on the controller one time too many? cramer's takeaway from gamestop's conference call next you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs?

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[ rimshot comical. that's the only word that comes to mind when i read gamestop's quarterly conference call from last night if you don't know gamestop, it's a money-losing video game retailer that peaked ages ago because nobody buys this stuff in person anymore. that's why the stock was shorted, shorted and shorted again by some hedge funds that believed that gamestop had no

business staying in business being in business. it wasn't a business but then the stock, oh, it became a battleground. the wall street bets crew they love me, so i'm very aware of them the self-described abs decided they could make a fortune by breaking the shorts. it was short busting like i've never, ever seen initially they pulled it off in the beginning of last year they took gamestop to the moon with the stock rallying to over $480 before crashing back to earth as the short squeeze abated since then it's had a 4 for 1 split. so when you adjust for that it peaked at around $120. it's now around 24 and change. that's the tale of the tape. of course the bull thesis never had anything to do with the underlying company it was divorced from it. it was all about whether a concerted effort could be made to start and build on a short squeeze. yes. what they wanted to do was bust

the darn shorts. and they succeeded now, though, it's been nearly two years the short sellers are no longer dumb enough to bunch up in a single high-profile stock. they're not making themselves easy targets anymore so we have to care about the fundamentals when you look at the actual numbers gamestop's not doing sa that well. the company lost hundreds of millions of dollars. revenue's down 8.5% in the recent quarter reductions coming. no mention in the conference calling about the big deal announced in september with sam bankman-fried from ftx for gift cards that deal ended two months later when ftx collapsed under the weight of its own fraud. no mention of gamestop's boffo marketplace. i looked at it quite exceptional. why would they ever do that? why would they ever talk about anything less than positive given that they don't take any questions on their conference call that's right, no questions no mention of chairman ryan cohen, the supposed savior, a big-time hedge fund manager who allegedly called the shots here. so no opportunity to ask him about the 68 million he pocketed

on the backs of the faithful when he bought and sold bed, bath & beyond. cohen wasn't even on the call. instead we get some compelling rhetoric from ceo matt furlong he indicated the company has plenty of money to burn, a little over a billion bucks, acquisitions could be in store gamestop has no debt except a credit facility from france, which did make me wonder if macron's a gamer furlong closed out his nine-minute soliloquy with a spiel about getting to profitability. and i quote, "this path carries risk and is taking time but it is the path we are on. genuine homespun wisdom now, maybe you're reassured by that kind of statement but i just don't see it the stock did soar 11% today because the rapid shareholders are back the buyers who despied when he when i ripped out my catheter at the hospital and called in to say -- >> sell sell sell! >> those people are in control

still. they managed to destroy some short sellers again. at least for the moment that's all that mattered to the stock, that anything related to gamestop's business, two words for this gem caveat and emptor! i like to say there's always a bull market somewhere. i promise to try to find it for you right here on "mad money." i'm jim cramer see you tomorrow santa's nice l? our valuation is awesome. how much do you make in one month? $1.7 million. -ohh. -wow. you gotta be kidding. a broken heart turns to cash flow. i'm smart. you are such a shining example for so many people. and you make the world a better place. oh, my goodness. 3, 2, 1. [ party horn blows ] -- captions by vitac -- ♪♪ narrator: first in the tank is a business that seeks to delight with their magical creatures.