superfluous. tonight is one of those games. you go to the game tonight to see the leafs of toronto, the maple leafs.ñ■ this is going to be a little ice ka paidse■ meets nhle■ hockey. >> you guyse1 are going? >> thanks for raining on theñ■f■ parade >> outside call. >> i think you could stay with cafe mack. >> go rangers. >> "mad money" with jim cramer starts right noud. . my mission is simple, to make you money i'm here to level the playing field for all investors. 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 trying to make a little money my job is not just to entertain but to teach you and educate so call me at 1-800-743-cnbc.

we are in levitation mode. there's always some money manager who wants more of that stock than can be had, more than can be bought at these levels so they endlessly pay no doubt jackie wilson like higher and higher you don't get into levitation mode unless the market is already morphing from being a bear market to a bull market lots of big institutions are caught leading the wrong way making sure that they're short as much as they are long either way, they're being run over by a caterpillar bulldozer or union pacific train >> all aboard! >> just flatten a bunch of pennies on a track it's going to higher levels. the bears are the pennies. that's how you get a day like today where the dow gained 383

points nasdaq pole vaulted 1.99%. you know, there is a home stretch a little after 2 every day with my cnbc investing club partner. we take a no prisoner's attitude with anybody who disagrees with us we take that tone because i don't think people understand and i'm trying to wake them up until late last fall, the market worked very differently. it worked something like this. it actually worked like yesterday in the afternoon someone somewhere deep in the bowels made a comment that interest rates needed to go higher everything rolled over it was incredible. as it happened, the short sellers went wild. others were raising their register furiously between 2:30 and 4 as if the bear was about to come and rip everybody's lungs out. the market slid into the close

even as no one knew why they were selling these sellers don't understand the news cycle as i said on today's home stretch, this isn't just a story about the tape anymore, it's about how individual companies are doing. these are two radically different things yesterday's sellers were playing by the old bear market rules from last year they think every down day is a resumption of the sickening decline of the peak. that's textbook. they don't just have one foot in and one foot out they have one foot out and there's a big toe in but not the rest of the piggies. they're always waiting for the next 10% pull back they don't want to be involved with a market where some errant bear can come on the air and say the rally is done and suddenly we're back to the lows they're playing from a place of

fear and that's rarely a good place of strategy. you must play from strength, not fear you have to recognize the tape isn't calling two year anymore the companies are. sure, we can get some discouraging inflation data, we will but that just means this market is going to take a breather and let you in as it did this morning when some parts of the inflation were good and some were okay. what do i mean by levitating if you are taking your cue, i think you are missing some of the greatest moves of our era. levitation stock uno, number one, meta platforms. it just passed nvidia today to become the best performing stock in the s&p 500 in 2023 now this is not last year's meta with willy nilly mark zuckerberg wasting his time this is zuckerberg getting religion on efficiency and devoting his time to reels all

while trying to get more people to post on instagram and the extraneous programs that he's want to do if you are a smart money manager, you don't worry that meta has gotten too high you say, quote, this darn thing is a horse and i want to get on this horse because you know what we may be riding secretariat younger people, google that. nvidia, the stock has more than doubled and if you think the bear's coming out of hibernation, this is the one you want to short in may and go away but if you bet nvidia, if you bet against it here, if you short it here, let me give you a little heads' up you're taking your life in your hands. don't forget to send me an invite to your funeral try to have it in may. i have a lot of plans for june i'll be jammed up. i loved nvidia for ages which is why i renamed my rescue dog

everest after it i then started getting into the new one. yeah, that's right, because nvidia's gone, i'm now ragu nvidia i can sneak ragu into that i can see jenson wong with this. hq, of course the old market, last year's market was like searching for buffalo bill without infrared night lights or getting your face ripped off by hannibul lecter. nvidia is now the definition of unstoppable. news releases, one came out about the launches of a high end graphics card, gamers can't afford not to buy it it's just $599 you're going to crush anyone you are playing against. keep in mind, the best of the consumer graphic chips are mid range price. they're not the $10,000 cards

you need to enable machine learning the more $10,000 cards the me merrier. you want to fight tesla, you want to take the other side of the trade that is ge to me that's a financial equivalent of jumping in front of a speeding locomotive i'm going to take you on apple for a spin through the mill where it's going to open two new stores in india. people will try to ensure they can get a glimpse of the iphone 14 a glimpse. yeah, that's a great short setup. why don't i just short some apple? all right. of course tomorrow we're going to have earnings, that's going to be a bummer we've already been told they're going to be down 5 to 7% who knows that i studied like 500 companies my life is completely

miserable. i have a terrible situation. i don't think a bull could script this moment better because bull markets thrive on low expectations i finally -- you know what i did? i'm going to tell you. the banks we'll hear from tomorrow, they will be pathetic but even one of them, if one offers a coherent view of who could possibly make money and doesn't need to say the world is coming to an end, by saturday that bank stock will be embraced too. all day i heard analysts talking about selling some months, going some other place sell in may, go to new zealand what is that about have you ever really come out of a bear market tightening cycle where the fed's done have you ever? i want to ask him, do you remember what it was like trying to get back into the market after that second week of october in 1998? then i realized something, the strategists who are talking,

they were probably in feet pajamas when i said that maybe they were hanging up their hoodie in their cubby hole maybe they were getting in line for the water fountain coming off a vicious game of dodge ball on the playground. that might be perfect training for somebody but not for this market bottom line, as you go into levitation mode, you need to understand this is what stocks look like, from the bear to the bull where most people are incredibly negative, if not everybody. the best time to get into a bull market is when everybody is still bearish. i need you to go to patrick in virginia patrick. >> caller: hey, cramer how are you? >> i am good how about you. i think it's 98 degrees. i have to put some sun tan lotion on my head when i leave here >> caller: yeah. i have to ask you about

coca coca-cola, should i buy, sell, or hold in this current macro economic environment. >> let me ask you something. first, listen to the offerings you gave me. first sell, james quincey. i happen to know quincy. i would not even put the word sell near his name then there's hold, hold with a 3% yield and a good quarter coming and then there's buy. what can i say buy, buy, buy. omar in europe. >> hey, jim. good to be speaking with you i hope all is well >> thank you, omar i had a piece of fish last night it didn't sit well in my stomach. >> caller: i hope you feel better, man. i really do. >> thank you thank you. >> reporter: i was interested in stock ticker ai. it had tons of interest from the wall street debt community, no doubt ai was a great momentum

trade but how do you feel about them remaining in the portfolio? >> i hear about wall street bets i think of the great investors, jake gould, jim fist real solid ones. let me tell you something, i happen to know the guy who started the company. why do you need that i give you chat cpaicp 3 o what are you giving me? i'm giving you nvidia. you can be missing out on big games like secretariat look no further than potatoes. i'm checking in with the ceo with more about the secret sauce behind the spud. investor negativity, we have additional under appreciated stocks and house and investors navigate home builders. i'm talking to bernard to see where the market stands so i suggest you stay with cramer

>> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? #madtweets send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. at morgan stanley, old school hard work meets bold, new thinking,

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my wife, i can't believe it was right in front of me the greatest unsung bull market play of our time, the bull market in potato products. look at lamb west. it is the leading global supplier of all things frozen potato related which has become

one of the best stories in the packaged food space. maybe the best the stock is 120% from the lows in march of last year. spuds. you'd think this was a fast growing tech stock except lamb weston has been running circles. this is the rare recession resistant company expanding by mad. we got a glimpse when they reported a magnificent set of quarters 44 cent beat off a 99 cent basis fueled by 31% revenue growth what were we missing we know it sells primarily in the food service sector. it comes from the live is too short pieces stop the speculation we have the president and ceo. mr. warner, welcome to "mad

money. >> hello, jim. thanks for having me. >> tom, i want you to tell me about the bull market in potatoes >> well, jim, it's an exciting story. lamb weston, as you know, we make frozen potato products. we serve those products all over the globe. we have 26 factories we're in 100 plus countries and we have over 9,000 employees we're based here in eagle, idaho. it's an exciting time. we've worked really hard over the past several years to return our profit and our business margins back to pre-pandemic levels i'm excited where this company is going we're making big investments around the globe to expand our capacity and be ready as the company is growing and grow in the future. >> a lot of times people tell me we're going to spin off a group and that group will be laser focused. laser this, laser that you got spun off of conagra.

your market cap was bigger than conagra. the what happens, tom warner, when you leave conagra and take lamb weston on the road and next thing we have a company worth the price of the parent. >> well, jim, exciting thing for me being able to lead this company and being around it for ten years was i really understood the value that we could unlock being on our own and being lads laser focused, a mentioned. our management team has no distractions with the parent we are able to source all of our capital, invest in the business and the people and that's coming through in spades in our performance or i should say coming through in spuds. >> you know what, i've got to use that you stole that from me one of the things that i see when i see being revenue operating by 22and 34%, when i see the growth, i expect you to

be selling semiconductors to artificial intelligence merchants here how are you able to put up such extreme growth numbers >> jim, when you really peel it back, we have just, like i said earlier, returned our margin structure back to pre-pandemic levels we've worked really hard to do that we've had a tremendous amount of inflation that's come through the business in the last couple of years we'd expect similar inflation going forward. it's really about getting the base back to a normal iized are. i feel good about where the business is and how we built the base business. we're excited about the category and the growth potential we see going forward. >> everybody loechs fries. she could put down a couple baconators and still finish the

wendy's fries. what i'm wondering, is there a love affair we have with fries that we didn't used to have. >> french fries, when i tell them i'm a ceo of a french fry company, as i talk to them about the fries, which fry you like, people like fries. the good news is, you know, there are developing markets and that's going to provide it. >> yeah, it's 100% on strategy, jim. that's something we had our eye on for a number of years and the timing just came up right to purchase the other half and i'm excited about that now that we have the additional six

factories. >> first, can the prices ever be rolled back? do they not see them because there's drivers in price >> you know, the great thing about the category, our product. we've priced through the market to recover our margins i feel good about where we're at definitely we have not seen an elasticity with french fries right now on menu. certainly there is some menu price increases is very profitable. >> the one thing -- i know it's not big but we have a lot of watchers the revenue in retail is still pretty grade isn't it >> we have a great strategy

we've been executing for fire label. we have license brands and we play in three different parts of the category over time when you put that together, we've grown our retail business. >> you took a brand that was good, you made it great. the people who were faithful to it and faithful to your work and that's a great job. >> thanks, jim. >> good to talk to you "mad money" is back after the break. >> announcer: coming up, tonight we ask am i too negative cramer resumes his search for overlooked stocks next

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as the bears got too come place sent, you know that's been my view. they've rallied for the averages that was last fall they still think the economy is a train wreck in waiting and the market will be its first casualty they've been doubling down like i've been telling you all week, sometimes you have to tell yourself, am i too negative. even though the underlying financials have come down dr drama dramatically they get the five names they deserve. not enough credit until right now. pencils up let's go to work

sfers up, fed ex he was sitting here. ryan, it can't be that bad well, it was that coupled with the fed's aggressive rate hike send the stock tumbling at they delivered management's belt tightening when we super dammed you and room break it shouldn't give them permanent over the next five years committed to efficiencies and it

might look cheapever err walmart is constructive about the mindi. it's running into cool i wouldn't be surprised if fed ex can revisit its highs once the fed has started tightening next up, global for the past two and a half years it accounts that's the map we keep seeing signs that high end luxury kills are selling for

crazy in the worth haefs and they have it and we're watching a company called service now, now. this gr-r-o--r---o---u---pg---r group has recovered. i am optimistic service because we kept talking to them. ee. >> it was a bit slow from the 30% no i think the easts location is -- actually, it's been profitable

for years. >> great story office automation, they do so well i shouldn't wouldn't get growth tech faurt on a limb. stanley black & decker it went from $202 to $79 in the last year. this is the name before the sentiment is from $99 to $83. it's undeniably challenging and manage their hands y. stick my neck out on this one is it that it's going to be like marie antoinette

i coupled about -- 60% in two years. i think we've reached that point last october it hasn't gone up. the this one is limited down side you have to wonder what things could go right if they could show a mod dis din and you can stop the pill forage housing is holding up much better these fwiets with nonresidential disclosure at this pint portions. and it was down more than 10 bucks in 2021.

some of the skon summer shifting pattern. it was stanley low balance engs is headed much more women. >> these analysts expect the company to mark 5 ds per shareae give you a different situation here it's called dupont. the stock edge you had down from 76-71 and change most of that was recent too. before wall street got word inflation won't go down and the pit might have to lay waist. they announced $5 billion

acquisition of rodgers corporation. last night they gave up on the dew. management said they would buy back their own stock while retiring 2.5 billion in debt that was 1/6 of the marketplace. the 3.25 came in an accelerated buy back from november to mid february they retired 8% of their shares outstanding. the great thing about the buy back is shrinking the number of shares, the denominator. i don't think if that's in the estimate the numbers will be too low. way too low. they'll be right there buying it with you, believe me bottom line, after a great for

the averages let's remember lots of stocks remain surprisingly beaten down and they can go up higher just like the strategists who tell us to sell in april and may and june and july and august and come back in 2028. thank you. how about we go to sam in maryland sam? >> caller: hi, jim thank you for taking my call and thank you for all of your help >> thank you. >> my question is about snowflake. i bought a sas at 250. now it is 140 to 150 do you think i should add to my position >> the yes, i do he is uncharacteristically great. frank's moving his money, okay the stock got ahead of itself. not frank. frank delivered on what he had to say i would buy more even after the quarter.

thank you, sam. it is time to step back and ask, am i too negative much more on "mad money. a stock not getting all that much respect it's called lennar i'm getting real on the status of this this company then i've got a bone to pick with amazon and the name is prime. there's always a package for me when i get home. i like to do it that way i it put them all in one anyway, that's not the subject of the call. all your calls, rapid fire in tonight's edition of the lightning round so stay with cramer

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why can't the fed beat housing. they jack up interest rates and making it more expensive to get a mortgage take lennar, my favorite home builder, miami based giant the stock surged from $70 to the october lows to just over $104 lennar reported a much than better expected quarter. their back log was down more than 30% 5% revenue growth. most incredible, 22% earnings growth year over year. here's what we've got to do. check in with the deenl of the group, stewart millar. we'll get a better look at the situation. stu, thanks for coming back on

"mad money." >> good to see you, jim. >> stewart, you've got to do this you have to explain to people if you raise interest rates it does not mean that the housing industry has to get punched and is flat on the canvass it doesn't work like that anymore. >> yeah. look, i think you have to start with the backdrop and the backdrop is that supply is short and demand has been growing. with that as a backdrop, you understand even as interest rates go up, there might be sticker shock, it might hit you in the beginning, and it did with the industry, but over time people need a place to live. if you go across the country you talk to the mayors in this country, you talk to the governors, you're going to find affordable housing, workforce housing is a singular big issue in every municipality. >> if it's a big issue, why do you say it and i get it from horton and i get it from toll that governments in this country

have made it almost impossible for builders, unless they're the highest quality like you, to do their job? >> it's a conundrum. the fact is that there is a lot of anti-development, a lot of anti-new traffic sentiment in many knew nimunicipalities a lot of people don't want it in their backyard population is growing. the economy has been generally doing well and therefore the demand for housing, in particular workforce housing, the firefighters, the police officers, the school teachers, the need for housing close to where people work continues to grow it's a matter of population. it's a matter of growth within cities >> people don't understand you have a strategy for this

it's a volume strategy that has defied many of the analysts that don't realize you've basically figured this out over the years how to triumph in these times of turmoil. >> well, if you start with the backdrop that supply is short and demand is growing, population is growing and there's a need for housing, our view was that as interest rates went up and affordability was tested, we needed to keep manufacturing homes because the country needs homes so the shock absorber was our margin. we were willing to take less margin as prices came down, as incentives went up and we were able to do that noin order to mt the needs of the marketplace we weren't going to exacerbate the housing shortage because interest rates were going up, we were going to meet the market where the market was and that's what we did. >> people tell me it's like 2007, 2008

people with no credit. they're all going to come in and buy -- tell people what kind of buyer you have these days because that's not what you have at all. >> look, you know, first of all, you've got to start with an understanding in 2007 and 8 you were dealing with an overhang of mortgages that were given to almost anybody without a downpayment, without proper underwriting that has not been the case other the past 15 years. the mortgage market has been strong and secure. and additionally, second, you have to look at the interest rates that have fueled the mortgage market. interest rates have been at historic lows. so everybody that's received a market, not only has value -- not everybody that's received a mortgage not only has value in their home but they have considerable value in their low interest mortgage. so you're not going to have the inventory buildup that comes from people defaulting on

mortgages that are advantageously priced as mortgages and their homes are advantageously priced and then on top of that, you do have that housing shortage so you're just configured very differently at this time than you were back in 2007 and eight. >> how are you doing now on costs? we know at one time labor really difficult. geez, supply chain for housing was terrible where are we in this -- what i regard as being a vast conundrum of you wanting to put up a home but really couldn't? >> well, there are two parts there. one is just cost the other one is supply chain. supply chain has been slowly getting -- reverting back to normal we've started to see cycle times, that is the time that it takes to build a home, start to revert back to normalization we have basically seen cycle times grow from about 5 to 6

months to 8 to 9 months and it's now -- it's a little sticky but it's reverting back. on the cost side given the pull back in the market and the pull back in volume and there is a significant pull back in volume, given that pull back, we've been able to go back to our building partners and say, look, we took a shot to margin you need to reconcile costs as an offset to that as prices have come down. we have to keep the production going and you have to play your part in that so we've seen costs start to come down, both on the waste side and on the materials side and some of our building partners digging into their margin as question, you have one of the strangest passions of the hot market some are obvious and i live in new jersey what the heck? you've got markets that are strong that are supposed to be weak where are the real buyers?

>> so, look, you have -- you clearly have an east coast/west coast differential the west coast of the united states is slower than the east coast. the east coast is stronger all the way from south and southeast florida is really strong still and has maintained its strength but all the way up the east coast you've seen relative strength relative to the rest of the market even through the middle of the country it's remained relatively robust some of the markets in the west and in texas that went up the most came down the hardest and different regions. >> wow well, i've got to tell you, i knew it. the oh, lennar, they won't know -- they won't know. i said, do you know how long they've been at this do you know how they could ride right through this period? and you're only four points from your 52-week high and all the way down i want to thank stuart miller.

the beginning of his conference call is four pages of everything you ever needed to know about housing. he's the executive chair of lennar thank you so much for coming back on the show >> thank you, jim. good to be here. >> "mad money" is back after the break. >> announcer: coming up, cramer takes your calls and the sky is the limit. it's a fast fire lightning round next - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at letsmakeaplan.org.

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and then the lightning round is over are you ready, skee-daddy. time for the lightning round i want to start with -- let's start with richard in missouri richard! >> caller: how you doing, jim? i've got a quick question. i currently have home depot and they're off the stock at a 15% should i take them or leave them alone? >> look, i think home depot's great. they have to figure out the situation. i think they are having a lot of problems with people taking their stuff and putting it online and it isn't their stuff and it's really starting to hurt the profitability. let's go to mike in louisiana. mike >> caller: hey, jim. this is mike from shreveport, louisiana. i'm in a house of pain and i need some help i'm in this company and this stock. it is -- it's just tanking, tanking, tanking please tell me what to do with

newall, nwl. >> i'm going to free you of newall i'm a member of ollie's army they have a lot of stuff on sale so i am going to say -- i'm sorry, but once you are free of that chain you might be able to come up with better ideas. how about we go to russ in michigan russ >> caller: boo-yah, jim. >> boo-yah, russ. >> caller: hey, i'm a loyal fan that's been watching for over ten years. >> yes. >> caller: i'm a member of the cnbc investing club. >> fantastic thank you. thank you. >> caller: i watch each night but i don't think anyone has ever called on this particular stock. i'm calling about a medical device company named shark wave medical. they have a device for heart disease which is the number one cause of death. >> it's a great device and a great company. i just wish it weren't so expensive. you have a winner and i don't want you to sell it. stay with it. that, ladies and gentlemen,

is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by t.d. ameritrade coming up, cramer's a very satisfied amazon customer, but why is the stock bouncing? it keep it here. what do you get from the morgan stanley client experience? listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪

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i'm not buying it just to sell this morning andy jassy, the ceo of amazon came on "squawk box" and told andrew ross sorkin about all of the wonderful things they're doing while i am an uber satisfied amazon customer, we own this stock for my travel trust and i am a very unsatisfied amazon shareholder. before i get into the nitty-gritty of what that means, the big picture is here. he hit us with the warren buffett quote, in the short run the market's a voting machine and in the long run it's a weighing machine, whatever that means. it's not very helpful. in november of 2021 which was a

long time ago, amazon was at 188, now it's 102. is that a cherry pick. two years ago it said 170. still way above today's closing price. maybe you think those are voting machine numbers, rigged ones at that how about three years ago? is that weighing machine territory? three years ago it stood at 108. still 6 bucks above where it's already trading. so let's cut out the buffett stuff already. more important, if amazon's such a great institution, why has the stock become such a good performer? it is blatantly inefficient. in 2019 before the pandemic, amazon had over 800,000 employees. in 2020 they bulked up to 1.3 million and grew to 1.6 million in 2021. by last year they had shrunk 1.54 million people. that does -- you have to admit, barely put a dent in the boat.

now amazon started a medical business on top of everything else, something it highlighted at the top of the website. it took time to compete against walgreens and cvs which have in the flesh pharmacists. they have the lousy friday night nfl football games that doesn't absolve amazon from having too many people you have to wonder how much of this is necessary. over at meta mark zuckerberg fired 1/3 of their people. at twitter elon musk fired 80% of their people. at salesforce marc benioff laid off 20%, announced a $20 million buy back and they criticized his leadership they said he had a great product

and lacked discipline. they have embraced efficiency thanks to the pressure not from the voting machine or weighing machine, but pressure from the shareholders every one of these tech firms thinks they need everybody they can to make all the projects work but now there's less money, more pressure, more competition and way too many people. yet of all the major players, only amazon doesn't seem that you have to start getting to do more with less that's right, i mean, see, i know what amazon is really doing. they're playing a giant jenga game where if you pull out the wrong 50,000 workers, the whole eddie physician crumbles they're wrong. yes, they finally let some people go this year, but that's after doubling the size of the labor force during the pandemic. they don't need that many people of course, it took an activist kabal like benioff musk is going nuclear on twitter. i wish andy jassy would take his

cue from mark zuckerberg zuckerberg had discipline all on his own. if jassy can do the same thing, it will have a shareholder machine. next stop, 150 if they simply do the right thing. i like to say, there'salways a bull market somewhere and i promise to find it for you right here on "mad money." i'll see you tomorrow. "last call" starts now thank you, jim i'm brian sullivan tonight, make room for max headroom could ai soon take your job? electric shock new analysis shows how much the biden administration pushing evs could friday the bottom line of automakers. jury selection underway in the fox/dominion defamation trial. one person inside the court will join us on what they saw. bracing for the banks. the key indicator no one should overlook as earnings kick off tomorrow noga parentally pays