>> that's what i'm talking about. >> ranger hockey. >> there we go. >> at msg tonight. you'll be in attendance. psx got an upgrade. >> i like the pretzel rods and the beer. >> they don't do it anymore. >> thanks for watching "fast money." "mad money" starts right now. b. >> thanks for watching "fast money." "mad money" 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 wants to make friends, i'm just trying to make you a little money. my job not just to entertain but educate put days like today in context. call me 1-800-743-cnbc. tweet me @jimcramer. i'm always telling you that nobody ever made a dime panicking. because the market does a very poor job of taking care of

sellers who want to exit all at once. in fact, sellers who exit en masse get hurt -- >> the house of pain! >> -- much worse than buyers who try to come in at the same time just like at a stadium if everyone tries to leave all at once you know what happens. the asymmetry is well known in professional money managers although it might surprise you given how often these guys come on our air to foment panic. hey, what's that about? i also like to remind you that even in the ugliest environments good things can happen. that's why it's important to know your stocks and know your companies. otherwise, i know you're going to get swept away by your emotions because that's the way people are. and if you let other people sway your emotion business their actions you tend to -- like last week when the bears came out all negative and now you have no stock left when you have fabulous days like today when the averages explode, dow gaining 565 points. s&p jumping 1.9%. nasdaq rising 1.78%. ♪ hallelujah ♪

make no mistake about it, today was one extraordinary day. we looked at the fed in the rearview mirror we liked what we saw, chairman who knows he's got a winning hand on all the big inflationary points and a treasury auction thank you, josh frost, schedule, that could help create had some heequilibrium i the long end of the bond market. with that setup treasuries calmed down long-term interest rates retreated and for the first time in ages it feels like mortgage rates can finally tick down and that produced totally unexpected rallies in two groups that were just from hades, the banks and the home builders. arguably the worst stocks out there. the ripple effect from strength in housing can reverberate throughout the rest of the market including the pa thikt retailers. went from having a narrow rally over this week to a blockbuster. but i don't want to overthink. to me this market's broadening out but it's the strength of the earnings of the magnificent seven that stands out because they were the ones that were really crushed last week when the selling was at its worst and everybody i saw come on air,

maybe you know someone who didn't, told us these stocks were sales or shorts. because many of these companies reported right into the earnings blast zone their stocks got hit regardless of what they said. caused us to look at the stocks as a losing asset class and these stocks were therefore by their own size the biggest losers. many of us all the way back and then some way off the ridiculous lows caused mostly by after-hours sellers who either were trying to knock the stocks down because they were short and they wanted to foment negativity or they were just simply first-class idiots who didn't know anything. i want to go over their trajectories, each one one by one to show how much of a mistake it would have been if you had sold with them and everybody was panicking. first let's start with amazon which fell from 128 to 117 after it reported. why did people sell? it's hard to even remember why they sold because this was almost a perfect quarter. i think that some sold because amazon web services was merely stabilizing and not accelerating. i told you that was ridiculous. that it was actually ready to

accelerate. amazon's stock has come back when people realized wait a minute, web services was stabilizing and ready to roar. i have no idea why the herd initially thought anything else was happening. too many people wanted out at once. the downdraft in amazon was caused by your panicked fellow shareholder who knew nothing -- >> they know nothing! >> -- except to follow the herd. and now the stock is roaring well above where it was. meta platforms. it reported an amazing quarter but people freaked out about one comment that advertisers were pausing their advertising because of the war in the middle east. but if history's any guide, we knew this would be a temporary pause. sure enough, a few days later pinterest said they had the same problem but the ad buyers were already back. meta stock initially fell from $312 to $287 but it's now come back to 310. and we're no longer afraid of a slowdown in advertising. how about alphabet? it missed on google cloud by $221 million. the stock fell from 138 to 122. it lost $221 billion in market

capitalization on a $221 million miss. make sense to you? not to me. seemed extreme. no wonder the stock's come right back. it's actually doing very well. but they told their story. caused a lot of panic. tesla. this one's harder. tesla missed like they all did in the electric vehicle business. tesla maintains its market share by cutting price then the consumer will keep loving this brand even though the margins won't be as good as they used to be which is why the stock is coming back. next nvidia from 493 to as low as 403. on what? ai-ennui. china orders out several years that our government's canceling. yeah, that hurt it. but you know what? there's so much demand for any of the chips that were canceled that were going to china that i think the company will be able to resell them in this country for higher prices. so it dropped more than 90 points because of potentially

better sales and gross margins. and of course yes indeed a terrible chart. crazy. no wonder the stock's working its way back. i say hone it don't tried it but you know what, i got in trouble for saying this before on twitter or whatever. i said if you want out go ahead. that was -- people were saying jim cramer says short nvidia. only microsoft didn't get hit. almost a perfect quarter. lost 12 bucks when the other megacaps got hit and got put through the meat grinder. that's $89.2 billion in market capitalization that declined on nothing. nothing at all except collateral damage and the pull of a bunch of etfs. i think it's safe to say sellers missed out on a buying opportunity. apple reported after the close more of the same a top and bottom line beat no one cared about. some hair on the quarter more than i had on my head so the stock initially got hit in after-hours trading and will probably go down tomorrow. while iphones are selling well the personal computing business is awful. management said this should improve in the current quarter because of new product launches.

however, the weakness in non-iphone hardware was offset by 9 strength in apple's service stwraem that no one seems to care about because it's not tech. up 16% year over year much better than expected. i keep telling you the service stream is the future of the business. it will soon be worth more in revenue than anything else except the iphone. macs, ipads, accessories all added up will not be added up as much as the service stream. keep in mind to whatever happened to the rest of the magnificent seven. my advice on apple has always been own it don't trade it. i tell the club the two things you need to know one is that there is absolutely nothing fundamentally wrong about growth, that you want growth in a company, but what you really want to do is growth by country. you have to take a look. because india is coming on strong. forget china. think india. it's coming on strong. oh, and those who laugh about the possibility of vision pro i hear the cackles all the time, listen to me jokers, the first applications will be for businesses, not you. everything from retailers trying to manage stores to health care workers trying to read screens.

you'll think this thing's such a bargain if you're in the enterprise. this is the real deal. by the way, if you don't agree with me, shut up. i don't know. i'm trying to like -- i have to keep it -- i have to keep it pithy tonight. here's the bottom line. days like today remind you that you can't panic and flee from the entire asset class just because everyone else is doing it. even if you want out, which isn't necessarily the right thing, you're probably going to get a better opportunity when the crowd is down hitting the payment. you say payment if you're from philadelphia. pavement for the rest of the country. that's especially true for the high-quality stocks we call the magnificent sen. you know what, i feel like taking calls. just something i have done for 19 years. debra in california. debra. >> caller: hi, cramer. thank you for taking my call. i'm concerned about ups stock. i've had a lot of it for over 20 years. and i don't know if it's hold or sell. >> i have to tell you, i am equally as concerned. i do not think it's being run

right. it did have a bad labor problem. so did the auto companies. but you know what the antidote is? fgx. better company. lower valuation. buy that. in case you needed a reminder days like today show you can't flee from stocks just because everyone else seems to be fleeing. sometimes they don't know anything, which is why i was using very pointed language at the top of the show. mom, i'm sorry. on "mad money" tonight are there big changes brewing at starbucks? i'm sitting downwith the coffee giant's new ceo fresh off their earnings report to go over the company's excite anything growth strategies. and yeah, this ginger chai. then the beauty industry's been showing us the ugly side for most of the year, but could elf butty, add the f to the e-l they've got something cooking. the company's top brass. and don't we all know it is football season. and we've got to talk draft kings. i sit down with the ceo, see if it's the right time to buy the

stock. so stay with cramer! >> announcer: don't mess a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer. hashtag mad tweets. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com.

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look at the stock of starbucks go. this morning the coffee chain reported a spectacular quarter, a top and bottom line beat with fantastic same-store sales up 8% globally. wall street was only looking for 6.8%.

even china was better than feared. earlier today we got a chance to speak with lakshman narasiman, ceo of starbucks. the trust owns a big slug of it. take it away. >> this is the most exciting time i can recall in years for starbucks and it starts on a terrific day at the stores. >> think about it. thank you, by the way, for having me on. today's the day all our stores in many countries turned red. i started in a store at 6:00 a.m. the backdrop was red. the aprons were red. today is the day we start holiday and we share the joy. and do you know the flavor for this season for us? >> well, i just finished pumpkin. so give it to me. >> pumpkin may still be available for you. but the flavor of the season, jim, is gingerbread. gingerbread chai, a big recommendation. i know you're a triple venti cappuccino with skim milk guy. you're going to try -- >> that's pretty amazing you know my drink. >> but you know, gingerbread

chai. and in some places you've got to call it gingerbread chai tea latte. i get a lot of mail about this, don't call it chai tea. but it's gingerbread chai. >> you are a product guy and a person who knows what people love. but you also know what people love worldwide. that's why in many ways i think you're unique. you know what people like, say, in italy. >> in italy can you imagine this? first of all, the genius of howard schultz. he goes there, sees the spirit of italy, and he brings it to the u.s. and introduces americans to the routine of italian coffee. then we gingerly go back to italy and he creates this temple, the milan roastery. it's an incredible temple to coffee. and it's stunning. i went there and i was completely blown away by how good it was. then we go even more gingerly, we say maybe not. we open 20 stores in italy. do you know the number one sku there? the espresso.

the espresso. at a starbucks in italy. >> so if i have a starbucks in. different countries i may find the best of what that country does at starbucks. >> completely. you know, we have -- we buy coffee from over 500,000 farmers all over the world. and when you go to that country, you will find coffee from that country as well if they grow it. >> now, let's talk china for ail second. i know that you've done integration back when integration with china in terms of roaster. and i think that's very important because a lot of people are saying wait a second, china, i'm worried. but are the chinese against someone who is by china for china? >> well, frahm, china's a tea-drinking company when he with went there in 1999. howard went there and said i'm going to commit to building the specialty coffee industry there. what are we doing now? we are helping them grow coffee in younn. we just poepd this big factory. it's the best and most advanced, most green factory you can think of with a vea v very advanced distribution center.

it ensures freshness of products. and after 24 years we've moved the per caps to 12 cups per person. so think of it. japan's at 280 and the u.s. is at 380. if you go to shanghai, it's somewhere between 100 and 150. and the reason it's that high in shanghai is because of our 1,150 starbucks in shanghai. and just so you know, i think there's potential in shanghai for us. >> can you double what you have in china and still not sate the market? >> we've only said we were going to grow to 9,000 by the end of '25, and i'll tell you this. that is just a milestone. there are 3,000, you know, provincial cities, as they would call it. we're only in 500 going to 800 soon. there's a city in a province called anhui. it's called tongcheng. it has a population of 700,000 people. there's no starbucks in there, and there will be one in 2024. >> that's incredible. >> so i think this is one where

we can actually continue to grow. you know, we have 440 stores in guangzhou and we only have 365 stores or so in india. >> you're familiar with the indian market. theoretically, once you convince people of how great triple ventis are that could, what, go 10 x? >> i think when i think about what we're saying international ly the opportunity is really large. we think we could be over 55,000 stores. we're going to be opening 3 out of 4 stores outside of the u.s. but that doesn't take away from the opportunity we have in the u.s. >> well, let's talk about that because people were -- there were people who said wait a second, they missed the number. i care about consistency. and you know that. to me the place that needs more starbucks is the place where i always have to be in a line, which is the united states. can you solve that problem, the through-put problem? by the way, an ice problem. for when i want to get my

mid-morning or afternoon starbucks. >> first of all, i'm really glad to know that at 10:00 a.m. you're now on to iced. >> i have to. >> that's what you'll the young consumers are doing and i'm really glad to see you're doing it too. well, if you look at demand in the u.s., the demand in the u.s. is very strong for us. and we're doing everything we can to ensure that we beat it. how are we doing that? well, first of all, we are really investing in the operational foundation in our stores and we've made great course in the course of the last year, fixing processes, bringing in equipment like the portable core foam blender. how we do drive-thru time is coming down. and also working on staffing and scheduling. now, you've been a restaurant owner, so you know how important that is. and if you just look at wages, and you look at hours, the average barista at i astarbucks today versus a year ago is making 20% more. what it's doing for us, it's

bringing more stability to our operations. our ten-year has gone up 16% over the course of the last year. by bringing stability, operating consistency and discipline in the stores, and by bringing in equipment and accelerating renovations we're going to be accelerating renovations as well as part of our plan, but it doesn't take away from new stores. we're going to build new stores too. and these stores are going to be purposed to find. so by 2025, 40% of our delivery volume will come from delivery-only stores. it takes away -- >> so you are going to do those. i thought that was in the agenda a few years ago. it seemed to have been left by the wayside. >> covid does a lot. and i think what we're doing now is you can appreciate that. we're committed to doing this. and you're going to build purpose to find stores in the u.s. plus in the u.s. you go to smaller towns and medium size towns and you see the migration of people. we are not saturated in america, jim. >> so starbucks is a huge position for my charitable trust and one of the reasons -- >> we appreciate that interest. >> of course, sir.

of course. is we like the consistency of your actual numbers. now, i want to be sure, there was the sense from some of the analysts that you did lower your numbers from when we talked with your company last september. i think what you did was make it so you have reasonable numbers that won't be in the way. >> correct. what we've done is first of all, we delivered this year at 12% growth, 14% with our forex with a 20% growth in eps. that was the top end of our range. as we look into this year, fy24, our comps are 5% to 7%. our growth is 10% to 12%, which is what we had said last year. and the earnings is 15% to 20%. we see a more balanced way to go because we clearly see opportunities with efficiency in addition to the growth. so it's a balanced way for us to essentially establish where the targets are for next year. >> okay. >> now, as i look long term, as i look really long term, what we want to do is send an algorithm

out there. we'll set expectations every y year. and what we are building this company to with the momentum it has, with the strength it has, with the power of this brand is we're building a business that in the long term will have a comp of 5% or greater, will have 10% or greater and will have an earnings growth of 15% or greater. and every year we will set guidance as it comes. >> okay. now, those numbers are important for people. but you know what maybe also is important and may be uncomfortable. you speak of we and partners. but you yourself. your background is unique for this. you are a perfect ambassador for a company like starbucks. you're a person of the world. you have a great background. can you just give us a sense of who you are to lead starbucks. >> first of all, my wife would be upset if i told you this, but i will. we are now in our 25th home in 30 years of marriage. and part of it is because we've had a very global career. so we've lived all over. i come from india. i've clear ly -- i came here to

this country with nothing. two suitcases and a pressure cooker because my mother thought i wouldn't eat well. and you know, it's a real privilege to lead starbucks and to lead 460,000 people from around the world. i've lived and worked pretty much all over the place. 19 years as an adviser consultant. pepsico for seven years. variety of different markets. i was at recki staett for three years. and then from london to seattle. the weathering similar. this is an incredible brand. >> you also seem to be as home with kurnconsumer packaged goodd coffee as technology. and that's going to be very important whether it be through through putt or what the stores look like or just staying on top of things. >> our business is not just a physical business. it's also a digital business. we connect with our customers digitally. one of the things we announced today, we have 75 million customers that buy us over a 90-day period. but the number of people we

connect with is almost three times that. now, what we have is a remarkable ability for us to actually advance that. so what we've said today is we're going to double the number of the starbucks rewards members over the course -- >> can you do that? you know the consumer's strong enough to do that, the consumer worldwide? >> you know, you see the growth rate in china. 22 million on starbucks rewards and it's grown double digits. if you look at the starbucks digital solutions, which is our platform globally, we're building this platform globally along with our partners, they are coming to the app. they are coming to our rewards program. and it gives us a great base of knowledge and insights. that's not just enough. as i get back into how we think about the partner experience and the customer experience. we've always been at the leading edge in terms of technology. now, with this generational change that's taking place, we have sped up our launches of features. it's now every two weeks. second, we are working with some of the technology pioneers on

how we bring gen ai into our business. over the last five years we built our own ai and machine language platform, machine learning platform which is called debrew. we're going to power up debrew with gen ai to take what customers might think about in terms of products and trends, bring it into how customers order, help the barista to build it and link it to marketing so the marketing that we do basically closes the loop. in addition to that we're working with apple products. >> with apple? with the vision pro? >> no, with a bunch of the actual products we we use, the ipad, the ipro and so on in stores to help us improve the partner experience. with gen ai we're collaborating with microsoft. we have a deep partnership with microsoft. we're bringing them in. and on payments we've been working with amazon. so we're going to continue to extend the experience of how you walk off, you know, without

having to go through check-out and the like. >> it's a sensational story. now, are you satisfied with the reinvention as it's going right now? >> i think i am. i think we're ahead of plan on reinvention and what we've done now is we've triple-shotted it. the triple shot reinvention. and by the way, like a starbucks owner, it's got two pumps. so the triple shot reinvention is about brand, elevating the brand, it's about digital, scaling and strengthening digital. it's about global. we just talked about the fantastic option of global. but it's two pumps because it's the classic starbucks opener. the first pump is efficiency. talked about a 3 billion efficiency program. and the most important pump of all is the partner culture. we've done a great job in terms of rolling out our mission, our promises, our values to our partners. we live our life through our partners and through their eyes. so it's really important that we reintegrate that too. >> well, that's a great way to end it. that's laxman narasimhan, ceo of

starbucks. now i will treat you to a gingerbread chai. thank you so much. >> thank you. coming up -- their quarter had few blemishes to conceal. should elf beauty make up a core position in your portfolio? cramer's got the ceo, next.

cosmetics brand with a beaten down stock. they reported a magnificent quarter raised their full-year forecast. i like this one very much. sure enough the stock opened up 11%. but then it gave back all its gains. even though it was a great day for the market. what's going on here? let's check in with the ceo of elf beauty.

welcome back to "mad money." >> thank you for having me. >> i like the facts. i don't care about the stock because the stock follows the facts. you have just come up with a statistic that i did not know. you are one of just five consumer companies that marked your 19th consecutive net sales growth averaging at least 20% sales growth per quarter. that's a remarkable figure. how is that possible, sir? >> well, i'm so proud of the team. we've been able to achief that type of growth really through focusing on three key drivers. first is our value equation, taking the best of beauty and making it accessible to every eye, lip, face and skin concern. second is our powerhouse innovation. we have a unique ability to take things you previously could only find from prestige or inspiration from our sxhunt bring them at these incredible prices. and the third is our marketing engine where we have the ability to engage and entertain our growing community. and all three of those drivers work together and have propelled the 19 consecutive quarters of growth. >> let's take number 2 head on. there's something my whole

office is buzzing about and probably the whole country is, which is your elf lip oil. it's fairly typical. there's a lip oil on the market that's $40. yours is at $8. from tiktok everybody's heard of it. you're obviously i think crushing the $40. how does this happen? >> well, it's what we uniquely do. we always listen to our community, see what they're interested in. and you're right, they saw a prestige lip oil that was terrific, but at $40 really wasn't that affordable. so our unique ability to come up with that same level of quality, put our own elf twist on it, and $8, we can hardly keep it in stock, it has been such a great hit. >> but it is available. i'm told it's not even available. >> it is. it's available. we bought more and we're bringing more to market. >> fair enough. let's talk target. i know target is right now challenged. there are some issues involving theft, some issues involving the consumer. but they do not seem to be impacting you. why don't you tell the story about where you were five years ago with target versus where you are now.

>> sure. so nationally we're the number three brand with almost a 10% share. we've doubled that market share. even in this last quarter we built 330 basis points of share. as good as that is our longest standing national retail customer target, at target we're their number one brand with almost a 19% share. so it gives me a lot of confidence as we replicate the level of partnership, the presence we have at target with other retailers. we can again double our market share over the next few years. >> let's talk about the value proposition here. candidly, my charitable trust made a mistake, we left off the f and bought el. i put some of elf's product in my wife's shelf, her mac shelf and turned the labels around and she hasn't yet figured out there's a difference. how is that possible that you can command -- that you can put out a product that's equal to a company that commands ten times what you command and no one seems to know the difference?

>> well, that's our unique strength. we've been around for 20 years and we've honed that advantage we have in having the best combination of cost, quality and speed and how it integrates in with our innovation model to be able to offer that incredible value every single day. >> when i read through the conference call i found it quite annoying. i've known you for a long time. you're a man of your word. you continue to beat the numbers. there were so many people in that darn conference call who keep thinking it's the last one. you had to explain over and over again there's many more targets out there. you threw out walmart. no one even paid any attention to that. isn't it possible given walmart's price point that you could have a similar share to walmart that you have at target? >> absolutely. i believe that every single place. in fact, if you plot the trajectory of any customer that we enter, it follows a very similar trajectory at target. so i'm highly bullish we can double our market share over time. we have huge opportunities. ulta beauty recently took their space up on elf. walmart has been a terrific partner.

the drug channel we're continuing to expand our distribution. and then internationally, that's relatively new for us but our international business was up 157% in the last quarter primarily on two countries, canada and the uk. so we have tremendous amounts of white space in color cosmetics, skin care, international and a lot of room for growth. >> that's what i thought. to me your model works pretty much everywhere because your model's up against estee lauder. estee lauder's the price setter. you can come in rather dramatically under them. i respect tremendously what estee lauder, the franchise they've built. but frankly it's not sustainable at these prices. your prices i think some people feel aren't sustainable at this low. i see no reason why you can't keep your prices low the way they are. >> i believe the same thing. in fact that's what our mission is, best of beauty made accessible. we take great joy in bringing that value to our consumers. and it's resonating. >> do you have data that would

indicate how much you spend as a consumer product company on actual advertising versus organic and innate because people love you versus what the typical consumer goods packaged company spends? >> we've been taking our marketing levels up. we were at 7% of net sales a few years ago. we're now up to 21% in the latest quarter. and the reason we do that, it's working. but the great advantage of elf is we don't actually ever have to make a comparison of our products. our community does it for us. they go on tiktok and say i tried this lip oil, it's $8 versus the prestige one at 40, i actually like the elf one better. that love we have from our community because of what we're able to deliver every day i think continues to propel our growth. >> what i saw today as a former trader, i think people want to knock you down. there are people who continue to believe this is the last good quarter. i guess i look at it the opposite way. i saw what happened to estee lauder over multiple multiple years. you've got multiple multiple years ahead of you, sir.

particularly because you offer value. >> credit that's right. not only do we offer value, i feel we offer a set of values that resonate with our community. >> total agreement. that's tarang amin. i always love when you come on the show because you offer a premium product for a much lower price. that works in every country in the world. elf beauty chairman and ceo. always come on. >> thank you. >> "mad money's" back after the break. >> announcer: coming up, it's game day for draft kings. and their earnings report has the stock on the move. is it time to give daily fantasy a sporting chance? stim with cramer.

all sorts of companies with beaten down stocks have taken back control of their own destiny by reporting fantastic numbers. take draftkings which just delivered a major revenue beat with a smaller than expected with spectacular guidance. these guys are making a lot of money. that's why the stock's roaring in after-hours even though it already shot up 6.4% earlier today. could this be just the beginning? let's take a closer look with jason robins, co-founder chairman and ceo of draftkings. mr. robins welcome back to "mad money" and congratulations on that great quarter! >> thank you. thank you. i really appreciate it. a lot of hard work from the team and really great to see the results. >> i know your team and it is fantastic. i want to ask you, there's got to be some real value not just titular value but real value in that you are the number one u.s. online gaming company now. >> that's something that recently we saw in a report, very proud but also realized it

doesn't mean anything if we don't continue to build on the momentum that we've generated. team enjoyed that, but also we get it, if we drop back down then it doesn't look like much. >> understood. >> what we're telling the team is let's make it a milestone, not a peak. >> let's think about this. i want to know how you went from almost a billion dollars in losses to guiding to $400 million in adjusted ebidta in two years. >> pretty -- i don't know how many companies have had a turnaround like that. again, a lot of great work went into it. you look at quarterly results and sometimes it doesn't always seem apparent, but it's usually years of work that go into generating that. and last year was really our year of efficiency. we're still very focused on efficiency this year, but last year was the rallying cry we've got to get more efficient and really got the team to buy into you can actually grow revenue faster. you can do r do better for the customer by being efficient because efficient doesn't just

mean cutting costs, it means really figuring out where the value is created actually increasing investments those areas and cutting back where you're wasteful. that's really been a mantra our company's embraced. and i think we've realized the growing isn't in spite of the focus on growth cost-cutting efficiency it's because of it. >> internally we've just learned from you. externally as a user i see an interface that just gets easier and easier for me to play. you know i like daily fantasy. i did that because i used to have a program with you. i have to tell you for those of us who are not doing as well in your fantasy league or don't know what to do, for five bucks you can make 90 bucks. tell us about dfs because i think that's the most exciting thing you've got going on sundays. >> i actually personally prefer dfs over any of the other products we have. so i'm with you on that. i know that the masses probably like the betting products better. but i love fantasy because you get to play against people.

i play against my co-founder matt. he actually really was crushing me last year, and this year i'm up on him. so i'm pretty excited about that. he's a tough one. he's a really good fantasy player. so i studied hard and worked hard and now i've got him i think this year. >> i know matt. i didn't know -- >> it's a fun thing. >> i didn't know that. but i'm king, just so you know. i'm a shark. that's what they call me. >> the only time i played you beat me. i'm a little afraid to play you. >> i think that's the right t texas, florida, california, what do you think? those are big states. >> obviously the big remaining prizes in sports betting. if you look at it's roughly about half the population of legal sports betting and almost half of that is in those three states. the big ones are always the toughest. there's a lot of interest in a lot of different parties and they are each a little different. actually very different. but i think that if you look at

the overall trajectory momentum, i believe it's just a matter of time. ultimately the consumer wants to be able to play on draftkings. to be able to do it in a state you don't live and go back to your home state feels weird for people. the more people are realizing it's fun and are clamoring for their own state to do it and the more you see the success of displacing the legal market, generating tax revenue the more it's going to become close to an every state thing. it's only a matter of time but obviously the path is never linear and we're going to work hard in those states to try to get our products. >> something that is legal, i see sportsbooks that are really disguising themselves as fantasy operators and activating in states where sports betting isn't legal. i like fantasy because it's not real betting to me, it's just fun. but that is wrong what these companies are doing. you're fighting against it. >> i think when you have a phase

we're in now which is overall a great thing where people are looking at how do we take an illegal market and do it the right way, legalize it, regulate it, tax it, inevitably you're going to have some bad actors in there to try to sneak in and do things either in ways that are misleading to the customer or not abiding by the laws or not paying taxes. obviously that's something that we've been very focused on making sure we don't do and we'll leave it to the regulators to decide if they think that others are. but we believe -- we're in one of the most competitive industries in the world. seems like every year -- everybody's like is the competition over? there's a new wave of competitors coming in. and we love that. it's great for consumers. it creates great products. and everybody should be competing on the same playing field. and as long as that's going on we feel like we can take on anybody and i think our results are showing that. >> i look forward to some more predictions, some news when you have your investor day, november 14. congratulations on -- i disagree with you, by the way. i think you could be ultimately

in a winner take all, loser take none. but that's all right. you're a statesman. i'm more of a guy who knows that i like draftkings. jason robins, ceo of draftkings. thank you so much for coming on. >> thank you for having me. >> "mad money's" back after the break.

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it is time! it's time for the "lightning round" -- this sound. and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round." start with owen in illinois. owen. >> caller: hey, jim.

first time long time here. >> owen illinois. what's up? >> caller: this company announced a $9.3 billion acquisition of another realty company. what are your thoughts on o realty for long-time investment? >> the moment the deal came down i happened to be on squawk, i said buy buy buy because i thought it was so great. i remember i told david i really love that monthly income they give you. i still think it's a buy at 6.14%. 6.56 when i did that but i still like it. let's go to rory in louisiana. rory. >> caller: hello, there cramer. >> how are you doing, rory? boo-yah. >> caller: good. good, good. thank you for asking. i've been a founding member for the new club and the one before then. >> yes. >> caller: i have a question concerning a spun off stock from ibm. it's called kind rell. >> i like kindrell. they report next week. i think martin schroeder's doing

a pretty darn good job. i bet he does a good number rks 14 bucks goes higher. kevin in my home state of new jersey. >> caller: boo-yah, cramer to you and your staff. >> what's happening, man? where are you from in jersey? nearby? >> caller: yeah, i'm out here in maplewood, not too far from you. >> all right. >> caller: my question is this stock reported yesterday. i went over the transcript. 20% drop seems like overkill. did i miss something? or should i be buying into this weakness? cslt. >> confluent. i've got to tell you, i just don't think it was as bad as down 40. i went through it. yes. i mean, i wish they hadn't talked so positive at the beginning of the call, like hey you guys are total numbskulls or something. but it's not worth down 40. it's not that bad a company. wowsa. how about we go to gary in california? >> caller: hey, jim. first-time caller. i'm a member for the club.

thank you. eli lilly. >> we nailed that one. it was good to nail that one. what's happening? >> caller: i have a question on sitm. >> this is a tougher one. this is one i'm going to have to say i need to do more on. it's another silicon-based company that you deserve a better answer then me just saying it sounds fine. and that, ladies and gentlemen, is the conclusion of the "lightning round." >> announcer: the "lightning round" is sponsored by charles schwab. coming up, fiend out why this blockbuster drug may give eli lilly even more room to run. next. ging you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education

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we're going to have so much fun together. sometimes you have to look for the market's blind spots. things it simply can't compute because money managers lack the relevant expertise. often the biggest blind spots are the world of blockbuster drugs. wall street frequently misses out on the evident about ones. that's why i think'lli lilly, which club members know we have been behind almost forever, could have more room to run after the results we got today. not for the overall quarter but for mounjaro, its revolutionary diabetes and weight loss drug that racked up $1.41 billion in sales. i both those numbers propelled the stock $25 or 4.6% will prove to be small potatoes because

mounjaro still hasn't even been approved for obesity even as it's already being used for that off label to try to get some. why do i think it's still being underestimated? because there are signs this miracle weight loss drug could also lower blood pressure, prevent heart disease, deal with chronic kidney disease, stop sleep apnea and liver disease, and even help stop heavy drinking. two drinks a night is heavy. that's huge. and there are probably more uses we don't even know about yet. but i know from personal experience wall street doesn't know how to'll calculate the future of a promising drug. the work i do for the american brain foundation which has been pushing hard for awareness for certain drugs, and also the american migraine foundation doing the same. for example, pfizer has nurtech, something that can aid 1 billioned people who suffer from migraine. it currently helps a minuscule fraction of those patients. could be a gold mine if they simply spend the time and resources to raise the awareness. maybe they have too much going on at pfizer to focus on making it the blockbuster i flow it

could be. i also know wall street gets big drugs wrong because this is what made my career. in the mid '80s mevicor was a drug developed by merck. the first of a new class of anti-cholesterol drugs called statins. everyone knows about them. back then no one knew. when i was working at goldman sachs i spent a tremendous amount of time talking doctors who specialize in heart disease. they made it clear this thing could be huge. one of the doctors i knew asked me if i was aware that high cholesterol would be linked directly to heart disease. i said aeng doetly but at the time there was no substantive literature on the topic. the doctor said harvard medical school was in the literature about how merck was work on something revolutionariry. but when i went to the best analyst in the business he laughed me out of his office. saying mevicor was at most a $400 million opportunity max. there really wasn't much hype at all. so i don't know what the heck he was talking about. i was a fiend for wall street research back then. i got a big bag of it delivered

from all different firms every friday. nobody was modeling the drug. nobody was including it. it just seemed to be a tree falling in the woods. so i bought the stock of merck hand over fist. specifically i bought call options to maximize my exposure. when the drug came out it had a pretty good not great start. i bought more. but then the positive medical journal articles started coming out and merck couldn't make mevicor faster. neither could a rival with something called lipitor. in fact, pfizer decided to buy warner lambert and lipitor became the best-selling drug in all time. i tripled my invest in merck in three errs ya' time and was able to leave goldman sachs and start a hedge fund. i think this drug mounjaro is going to be bigger than lipitor or humora. are those sales reflect in the models of the analysts? so far only diabetes and maybe obesity. as for the other indications lilly's not getting any credit at all. i think there's so much more ahead as i tell investing club

members pretty much every day. so do not be tempted to take the gain. and if it gets hit then you have your chance because this one i think could be the biggest drug of all time. i like to say there's always a bull market somewhere i promise to try to find it just for you. i'm right now at last call, with the bond king is buying now. will gross joining us with where he sees other opportunities awaiting a verdict. the jury deliberating right now. mike novogratz here to tell you if it can hold up. iphone doing something it hasn't done ever since the iphone premiered, and not in a good way. a dash for trash. her