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tv   Mad Money  CNBC  September 11, 2024 6:00pm-7:00pm EDT

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♪ my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now. >> a, i am cramer. welcome to "mad money". i am just trying to make you money. my job, not just to explain, to entertain, teach. call me, 1-800-743-cnbc. it keeps happening and it is beginning to drive me even crazier than i already am.
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i am talking about what they do in any given session without taking into account the lunacy of those who trade stocks for a living. the s&p climbing and the nasdaq, 2.17%. but those percentages are the product of a furious battle between competing visions of reality and only one survive. only one vision can hold up under close scrutiny before it starts all over again. today like many days we had crucial figures from the government, this time for the consumer price index. notice i say somewhat crucial because we are days away from the meeting where we are likely to get a rate cut. any session between now and then could be an outlier for the feds mindset. when you are in fed mode, as we are, you know tensions are heightened, which is why it was
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good to see a basically in-line cpi reading. nothing shocking, just the number we all expected. the stock figures were drenched in red when i woke up at 4:00 this morning. perhaps with overnight traders betting that the cpi would come in real hot. when the cpi came out at 8:30, the futures did not bounce as you would've expected. then the market opened hideously again. leaving commentators baffled, confused. as speakers and interviewees start coming up with reasons for why the dow jones is down and the nasdaq is up 1.5%. the pontificate her's were frantic, but after a few tries they settled on a new narrative. many were banking on a half- point rate cut and the 2.5% number made a double rate cut very unlikely.
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we are told that lead to disappointment and furious selling of stocks. can i just say i was aghast at this wholesale license of the truth? i had just come from an interview with the ceo of one of the higher-end homebuilders and a smart guy who told me business had gotten very strong in august and september and could only get stronger as rates fell. he is a straight shooter, not emotional, but basically said look out if rates go down. he was empirically positive on the coming rate cuts. he and i are students of financial history and these rate cuts could ignite housing sales. that is huge for usiness in our country. housing is connected to so many areas that i always like to say at punches above its weight. so i figured it was time to commit heresy. jeff marx, my partner with the investing club, we do a screening program daily, exclusive for members of the
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cnbc investing club. although we won't be doing what tomorrow because we have our monthly conference call. on today's program i had to throw it out there. i can find the rationale and because we were declining for no reason i predicted the average could finish up. i stuck my neck out. it did not happen. i refuse to dignify the commentators. i knew that the early action was nonsense. further, i knew that the sellers were wrong. what's wrong with honestly stating the sellers are purists and don't understand the power of rate cuts? where does it say we can't be judgmental? i don't feel like making things up to ratify or justify the action in a given day, not when the action is so wrong and nonsensical. sure enough the averages bottomed. what drove the term? did you know that amazon is back to where it was? same with broadcom.
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but the actual thing that drove things was nvidia, which had recently become the epicenter of tech negativity. i don't make this up. i actually heard a debate today about how long the bear market in nvidia shares would haunt us. the bear market. sometimes they didn't mention this is still the best stock even though it was down at the time. what happened to get the stock roaring again? how about this? the ceo cleared up questions lingering about the supercomputer chip, blackwell, which has been a source of speculation about missed opportunities and the level of demand for a.i. hardware and nvidia is the subject of more than its fair share, so jensen decided to set things right. first in his fireside chat with the goldman sachs ceo as part of the cornucopia plus tech conference. the man i call da vinci because
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he is a modern-day renaissance man said we are not telling the story right. nvidia is not only at the epicenter of an artificial intelligence move, but also dominates the accelerated computing business where almost all of the old, slower chips will need to be replaced. four days the bears nd know nothing bashers of nvidia have been saying the chip is proving to be too hard to manufacture he and may not be able to ship in volume in 2024. not true. listen to what jensen said. >> here we are ramping blackwell and it is in full production. we will ship in q4 and start scaling into next year and the demand on it is so great and everybody wants to be first and everybody wants to be most and so the intensity is really quite extraordinary. >> talk about reassuring words.
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what the semi conductor bull market really needed, these words. broadcom, like i just mentioned. trashed beyond all recognition. today broadcom traded above where was sitting before the aforementioned quarter which i told you was good and seemed to be hated, but is now transforming from an ugly duck into a beautiful but angry swan? have you noticed swans are angry? the positive action in the alternative energy stocks and a stance on carbon emissions taken by vice president harris last night makes it careless to draw any conclusions. lots of companies doing okay are doing the much better when the fed starts cutting rates. everything. yes. stocks do better with rate cuts, bottom line. i say keep it simple. rate cuts are good. small rate cuts are great
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because they project confidence, they give you more rate cuts later on and they do not allow for panic. and those who were let down by the fact we will likely only get a single 25 basis point rate cut next week, i regretfully conclude that they have no idea what they are talking about. i want to go to eric in massachusetts. eric. >> hey, jim. >> what's up? >> not much. longtime listener. >> of course, good to have you on the show. >> i wanted to ask about jetblue. i've had a position in jetblue for the better part of a decade. it has been all over the place as you know, with the news lately. a new ceo. you think it is going to turn around? >> here is my feeling. on the airlines. i have not bought an airline stock other than for my father in 1984 and it was an immediate
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mistake and i learned my lesson. don't touch the airlines. there are many other stocks out there, you don't need to be in the airlines. let's go to ned in ohio. >> hello, professor cramer. chief executive officer, how are you today, sir? >> good. i thought i was president. i like being ceo more than president. that is actually below the ceo. how can i help? >> earlier this year i think i listened to your program and you had the chairman of next tracker on and you talked a lot about that company and son tracker technology for solar energy and software systems and so forth. at that time it was around $60, $56. it's down to around $33 now, so i'm wondering is that a buy,
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sell, or hold? >> i'm so glad you asked because this is when i will talk about tomorrow at our noon club meeting. it was a disappointment. one of the reasons is because a lot of people doomed solar, perhaps because president trump was going to get reelected and even though he says he is a fan of solar, he also says he is not a fan of solar. he can say that because the first amendment allows you to do that. i will say that i had to check in with dan sugar because i'm not happy and he tells me things continue to be good. i think it 11 times earnings it is the stock to buy and has real earnings, but am sensitive to what you said. i thought i waited long enough for it to come down to be able to buy. tom in massachusetts. >> hey, jim, thank you very much for taking my call. >> the pleasure is mine. how can i help? >> all right, i had a question on -- celh.
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>> have to tell you it has been a source of confusion. the ceo told a perfect story and all it does is go down. that doesn't always mean something is wrong. something is difficult to figure out in the relationship of pepsi and rockstar and i think that might have to do with the decline, but also the sales have not been that good from what we can tell talking to clubs and amazon. the stock is not a buy, because i don't know why it is going down. i say keep it simple people. listen to me, rate cuts are good and small rate cuts are even better. we are one week away from the fed's decision and i'll tell you what investors can expect. then, gamestop. it was another unimpressive art. can we finally close the book on this thing and get rid of the endless saga? i will give you my take.
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and i said i had to do work, so i am circling back with an updated thesis. so stay with cramer. don't miss a second of "mad money". when it comes to amgen's life-changing medical breakthroughs, every second counts. but without investment, those breakthroughs are often paused. citi's seamlessly connected banking, markets and services businesses, deliver global financial solutions. so our client can keep investing in innovations for patients around the world. without pause.
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so you don't have to compromise. powering smarter savings. powering possibilities. as i mentioned before, in one week we will find out the fed's next move at jay powell's press conference and since the middle of summer has become a
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foregone conclusion that this meeting is where we will start getting rate cuts. when the committee met in july, they cut -- kept the rate unchanged, but powell said as long as the data allowed it, a rate cut could be on the table for september. then when powell spoke at the jackson hole imposing him last month, he said and i quote, the time has come for policy to adjust, meaning it is easing time. with 2.5% inflation, the lowest since 2021, it is practically a sure thing. the question is by how much? will it be 25 or 50 basis points? you can look up the betting odds based on the futures markets. according to people gambling on it, and they do gamble, there is an 85% chance of a single rate cut. it is a big change from yesterday when 34% were looking
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for a double rate cut. a week ago that as 44%. a month ago it was 51%. a double cut in september. back then people were panicking about a possible recession, including being issued by people on our network. those worries were overblown and if there is no recession on the horizon it is a lot harder taking rates down by 50% out of the gate. sometimes the betting odds are wrong. let's start with the case for a 50 basis point cut. as members of this rapidly dwindling camp see it, the fed is behind the curve. they should have started cutting in july and now they need to catch up. they can point to the fact that unemployment rate bottomed in 2023 and has risen as of august. in fact we added an average of 116,000 new jobs in the past month. especially when you consider
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that we got a downward revision to employment last month that struck 800,000 nonexistent jobs off the rolls. do they know how to keep these numbers or what? if you think the fed is behind the curve, there are other avenues. a new 52 week low yesterday. the manufacturing purchasing managers index has come in below 50 for the past five months. which signals an extended contraction and manufacturing activity. last tuesday we got the latest reading for august, which is one of the reasons last week was so ugly. that said while there is a case to be made for a double rate cut and i certainly would not plan for that one, as i said at the top of the show, i am definitely not in that camp. i am expecting a 25 basis points cut and that will be just fine. the unemployment rate has risen but 3.4% was the lowest level since the late 1960s. you could argue it was too low
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because we had a massive labor shortage that helped fuel the worst inflation in 40 years. the current rate is about as low as that number is supposed to get. i don't see a collapse in the job market, either. i see normalization now that the fed has cooled down and overheated economy. so i know business is slowing, but so far it might be better to say that it is moderating. in late july we learned that second-quarter gdp growth came in, down from the first quarter. certainly below the 2.5% that wall street was looking for, but last month we got a revision that changed that to 2.5%. perfectly in line with expectations and when you look at the atlanta fed real-time gdp projections, they are seeing 2.5% growth. 2.5% gdp growth is not pretty. it's not even good, really, but it is not bad. nothing to write home about and nothing to cry about.
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then we've got corporate markets. as the end of august we have second order results and in the aggregate they had 13% earnings growth. if that holds the strongest growth since fourth quarter 2021, before the fed started tightening. revenue growth was 5.5% for the average company on the s&p, still a respectable number and better than the beginning of the earnings season. we have to look at these figures and argue a double rate cut for the fed to stave it off. that is why i am betting for a 50 basis point hike not to happen. it would feel drastic. and jay powell doesn't do drastic unless he has no other choice. there is a whole cottage industry of people eager to criticize the fed and chairman powell, i generally think our central bankers have done a pretty good job. of navigating covid and the post covid era.
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they were accommodating when they needed to be early on, saving the economy from ruin. when it became clear they pivoted and they've gotten inflation almost entirely under control in barely more than two years, which is extraordinary and they've done it without tipping us into recession, which is amazing. they don't want to take a victory lap, so i will do it for them. in my opinion we are the logical next step where the fed can begin to unwind the tight money posture. the fed has done a magnificent job signaling this is coming, so there's no need to surprise the market with a double rate cut. if they did hit us with a double rate cut, i think that would cause people to panic because it would signal the economy is doing much worse than we thought and there is something awful lurking that no one at the fed knows about. if that were the case i think we would've heard from someone. maybe fed officials. going forward i think the fed should remain data dependent. as signaled all along.
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if you look at the futures market, wall street is betting on at least one double rate cut in one of the next three open market committee meetings. that feels aggressive to me again, but if the economy looks worse in a couple of months then maybe it will be unlike now. the fed's next ove all depends on the data. jay powell is real good at his job and right now i think the data doesn't justify a double rate cut. but you know what? we will find out next week even if it does not seem all that dramatic to me. unless something goes terribly wrong between now and next wednesday, we are getting a 25 basis points cut and you know what? then it is on to the next meeting guessing game. "mad money" is back after the break. coming up, disowning gamestop feel like playing rock band on expert? hit the right notes with cramer, next.
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can we finally stop pretending there is anything real going on it gamestop? the retailer reported another unimpressive quarter and the stock lost 12%. for years gamestop has been hanging in there in the teens and 20s. the ceo has a cult following
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among the wall street bets crowd. don't forget, moneymakers were shorting stocks aggressively back then because there doesn't seem to be much future in a brick and mortar video game store. nowadays everybody downloads the stuff right from the web. you can do that through gamestop, two, but you don't need to and we have not heard a reason why you want to. then they crushed the shorts and briefly sent the stock into the stratosphere, allowing the company to raise money by selling shares. nothing has changed on the fundamental side. gamestop doesn't even hold quarterly conference calls anymore, not even the sham calls they did in 2022. now they give you the numbers and that's it. lots of luck. they know the numbers don't matter to their core base, but they had a massive revenue miss. sales down 31%. fewer and fewer people buying games from the store. at the same time the company
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posted a surprise profit, sort of. the operating loss was worse than expected, but nearly $40 million in interest income. per share. not bad. so what gave them the beat? it was the cash warding. the core business remains a money loser, so the stock plummeted. i don't think it is much to do with the numbers. gamestop tries to make a living buying consoles and accessories because people buy games online, but the problem is it has been four years since the latest consoles launch, so there is less demand. gamestop's core business does not matter anymore. what matters is fundraising. it is good at selling stock, not video games, and last night we got new details that crushed the stock. this spring the stock was around $10, its lowest level since the craze, but in may i started rebounding because keith gill tweeted a meme of a
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guy playing video games leaning forward in his chair. i know that sounds crazy, but it was enough for them to buy the stock and they sent it to $65 midday, its highest level in three years. this time gamestop was ready to be opportunistic and announced first-quarter results at the market secondary offering of 45 million shares. that sent the stock down to the teens, but gamestop needs cash and the people running the company are happy to take advantage of their stock following that seems to know nothing about the way the stock market works, but that is also good. in early june the stock got moving higher again after keith gill posted for the first time in a month, showing a screenshot of a massive gamestop position. even a youtube live-stream after the full first-quarter earnings report. they still give you a $100 million revenue miss, that is hard to do.
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because the stock got an early boost, management announced another aftermarket offering, this time for 75 million shares. for me once, shame on you. for me twice, shame on me. the optimistic crowd, it has become clear every time they take gamestop up, management will step in and sell a whole bunch of new shares, because why shouldn't they? they are cannon fodder. they seem to enjoy being cannon fodder. wants to be cannon fodder? anyway, i bring this p because last night we learned what gamestop raised and now they are planning to sell another 20 million shares in the third aftermarket offering of the year. that is the real reason the stock that obliterated today. man do they know how to sell stock. at this point you can't treat him stock as an internet retailer. that business is dying. instead this is a big pile of cash attached to an irrelevant retailer and the bulls stick
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with it because they still believe in what management can accomplish with that money. it is a lot of money. maybe they had another 4 million or so with this new offering. meanwhile the company has almost no debt because they paid off that with some of the secondaries in 2021. thanks to the interest and cash gamestop is not even losing money anymore. as long as they get some of the core business they can collect interest from the cash and keep making modest amounts of money. they have way more money than they need to buy out a lot of bad leases they have in malls and just fund the good stores. with the business dwindling into obscurity even as they raised a big pile of cash, gamestop feels like a special- purpose acquisition company, yeah, a spac. they raise money with the goal of acquisitions that will turn them into a real business. the only problems -- no spac gets that premium. most of the people who still
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on this one are devout believers in the chairman and ceo, but i don't see what he has done to deserve that following. still the believers think he can acquire a combination of businesses and instantly they will be worth roughly double what gamestop paid for them. i don't know about you, but i would not take that bet. at this point why operate the stores? one of the remaining analysts published the reaction where he said, quote, we figure it would be reasonable for management to close its doors and operate as a bank. gamestop has roughly $10 per share in cash, but without a hint of strategy to deploy capital, we do not see why shares trade at two times. based on whatever nonsense they cook up and there is nothing about the business that is worth talking about. bottom line, when you think of gamestop, you need to imagine a spac and not just any. it is massively overvalued.
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they need to purchase something incredible at an insane discount because that is the only way to justify this stock. where it could be headed if they don't give us an outline of what the plans are. the mere idea of a plan. so far gamestop doesn't even have that or if they do, they sure have not shared it with us. i want to take calls right now at the completion of the gamestop story. let's go to craig in missouri. >> booyah, jim. >> booyah, craig. >> i'm just starting a position with go daddy and i'm dipping my foot in. bought some shares around 150. i am wondering with your insight, is this a good place to start? >> i like your strategy. i like that the stock pulled back a little bit from its 52 week high. the business is profitable. i think you are doing it right and i congratulate you. let's go to new jersey.
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>> hey, jim, how are you? >> i am good, what's shaking? >> what you think about intel at the current price? >> i don't know if it is low. that would presume it can't go lower and i don't want to make that presumption. marcus in oregon. marcus. >> good to hear from you. i really enjoy you in the morning. it is how i like to start my day, with you two guys. >> thank you. >> i'm in the club. i'm real happy -- >> please come to our club meeting tomorrow at noon, it is going to be a good one. >> you got it, man. so i am looking at albertson's bounce off the bottom. is that something we should look at? >> i think so. albertson's already said we want to be for sale. a $10 billion company, so maybe
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someone picks it up and in the meantime it is not that bad an operator. they should realize the ftc did not want to do another supermarket deal that would make them look stupid. why these companies that the ftc would not remember that is beyond me and certainly beyond their lawyers who probably charged them a fortune to make the opinion that i give them for free. i think at this point gamestop trades more like a spac than a stock and a massively overvalued one, but who cares, right? it is all that stuff that means absolutely nothing. now, i do my homework and give you my take. then as a company that walks away from the tragic events that took place 23 years ago. my memories of that day and why it is so important to never forget. stay with cramer.
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last thursday i get a call from wayne in ohio wanting to know about an industrial machinery maker now that there is a new ceo at the helm. we did a whole show from their steel plant in 2012, but i am a bit rusty on the story. i said i would get back to you. after doing some homework. i want to get this assignment done before we head to san francisco for dream force next week. what is timken? the company is located in ohio, north canton. timken is old, founded in 1899. i was during the mckinley administration.
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which trump wants to bring back by imposing tariffs on imports. the company got its start with heavy freight wagons. it is that older. that might have made that disruptive 50 list if we were on back then. unlike mckinley, timken survived thanks to new technology. today they use all sorts of heavy machinery and industrial equipment, agricultural equipment. if that sounds boring, you should watch dam busters. a british movie where they need to blow up the largest ball bearings factory in germany. i'm not kidding, fantastic erie during world war i timken started making steel. the spinoff is -- it sounds like the villain in the transformers movie. what does timken look like today? the company gets two thirds of its revenue from the bearings
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business. these are essential for transportation and they have a wide variety of applications. sales, most entirely from the motion business which makes telescopic rails, industrial drives, lubrication systems, belts, chains, couplings, clutches, and seals. what a boring portfolio, but boring is good in this business. basically timken is a textbook smokestack stock, but struggles during a downturn. 2020 four was rough. the most recent quarter at the end of july, even though the roles were in line. they were down 7.7 year-over year. when it gets 43% of its sales from the united states last year. the rest of the world has been hit much harder by rising interest rates around the globe, at least on average. timken sees significantly lower wind energy demand in china. that accounts for more than 12%
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of their business last year. why windmills? because anything that spends or rotates needs bearings, especially when talking about heavy machinery. when i was at the factory i could not believe it. it is just like a zillion of these. how could a segment that is only 12% of the business be such a headwind? renewable energy sales were down more than 40% last order with china being the main driver. the company son 8% decline, but if you take off windmills that would've been down less than 3%. there is a lot to like. this is exactly what you are supposed to be owning or buying when the fed starts cutting interest rates and there are already signs of improvement. sales declined harder in the previous quarter, down 9.2%. as for the renewable energy business, management told us that orders have stabilized. more important, temkin gets half its business from the americans and is down only 1%.
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that would've been up if not for timing issues with long- term military contracts. management still expects growth for the full year. even abroad, in india, they manage to go up double digits thanks to rail and industrial revenue. despite the region as a whole being down 18 -- management projects substantial declines in the current quarter and fourth quarter, which is what you would expect at this point in the business cycle. once we turn the calendar into 2025, timken is confident markets will rebound and return to growth, although they were a bit noncommittal. at the industrial conference earlier this month, the cfo noted that timken is much closer to troff demand levels than peak demand and went on to say that it would be, quote, atypical frankly if we didn't return to growth in 2025. i think he will be dead right.
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there is another wrinkle which is the change in leadership that wayne in ohio asked about. the market acted up with the stock jumping 2%. they brought in the president of the motion business, a gigantic company. it was the first day on the job as ceo and in that interview we spoke with the now previous ceo, rich kyle, who will be staying on in an advisory capacity. i am extending an open invitation to get a sense of his plans going forward. unfortunately the stock has been an under performer since we spoke with management on the day that timken spun off the still business a decade ago. it was up 238%. it is textbook and nothing wrong with doing it here. there are a lot of other cyclicals that i like.
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that might benefit more substantially from the coming rate cuts. think dow chemical. or even the so-called new industrials. powell industries. that's wild. look at that stock. train technologies. look at the profile. these are all powerful themes. often connected to a data center meaning they will perform fine even if it doesn't cut rates as quickly as we would like. here is the bottom line. i think timken is right for this moment, but it might not be the most right and i can't make that judgment, which is why i would love to have the ceo on the show to learn more. coming up, hit us with your best shot. an electrifying fest fire lightning around is next.
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it is time. it is time for the lightning round. and then the lightning round is over. are you ready? harrison in california. harrison. >> what's up, jim, how are you doing, buddy? >> i'm doing okay. how are you, partner? >> i'm doing good. i wanted to know about paypal. >> this guy alex chris seems
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like a miracle worker. i am a buyer. let's go to charlie in california. charlie. >> how are you feeling about rivian nowadays? >> rivian has the money to be able to make it. i would say you've got to let it percolate, but not anytime soon. how about we go to steven california. steve. >> jim, great show. an energy company like -- i'm coming to believe the hype around increased energy demand in our country. do you believe the trend will continue? >> no, the yield isn't that much. by the way the operation is fabulous. i think you are fine. let's say it is a baby growth story. let's go to alex in florida. alex.
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alex, you've got the floor. alex doesn't seem to want the floor. maybe he is drinking cheap scotch. let's go to omar in new york. omar. >> hey, jim, thanks for having me. >> of course. >> i appreciate everything you do. >> thank you. >> no problem. >> i was interested in cvs health. >> i'm concerned about cvs. i do not like stocks that sell is seven times earnings and have this yield because it says you are too bullish if you endorse it. let's keep it on ice for the moment. how about we go to margie in maryland. >> hi, thank you, jim, for taking the call. i am in maryland visiting my daughter. >> i love it there. i'm sorry. >> i know, crab central.
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i have stock in lows and i have made 52% profit. i know that you prefer home depot, so should i switch -- >> this is a good question because it is true. i have seen home depot dip because i decided to buy it. we bought more when it was down today. i will talk more about that tomorrow in our 12:00 club meeting. i want people to join it. i want people in the industry to join it, because they seem to know the least of people that i talk to. home depot was good. brad in arkansas. >> a, jim, big booyah do you and the "mad money" team. you do good work. >> the best in the business. >> they are at an all-time high. talking about palantir -- >> it is a cold stock. i don't have anything to say about it.
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let's go to briana in wisconsin. >> it is just bryan with an o. >> i thought maybe you were related or something. wisconsin, you know what i mean? what's up? >> that i was one of those fancy frenchmen. my question is on energy transfer, looking to get your feedback. >> i am a buyer of energy transfer. i have historically not cared for the balance sheet. and that, ladies and gentlemen, is the end of the lightning round. the lightning round is sponsored by charles schwab.
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fantastic piece of paper. fantastic. team .50. how about 50 k?
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>> today as you saw i got to be in a room full of angels working for free to raise money for amazing causes to commemorate the lives lost on this fateful day known universally as 9/11. devastated by the attacks days this day they work for free and donate all trading fees to fabulous causes. they invite notables to come in and do some trades themselves. i told the client to offload those as soon as possible and i nailed some trades although i failed to bring home the bacon with a major european big. i left charity money on the table. but you know what? in all my years in the business i don't think i have ever had such a satisfying day. it is soen a soulless, transactional place where you come in in the morning and leave at the end hoping you had a
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successful day. today everyone was successful. the guests, the clients, the notables and howard who runs the firm where employees and friends perished on this beautiful, crisp september day. this is an annual tradition. the firm has raised the most hundred million dollars for amazing causes. i was making trades to help raise money for a charity called babies heart fund, part of the columbia university med center. it supports research to find cures or treatments for congenital heart defects. a great friend of mine, bill detweiler, lost a 2 1/2-year old daughter grace after initially receiving a heart transplant and then it ultimately failed. she is tireless in her work to make it so no other children suffer the same date. today they committed $45,000 to the special charity. what can i say? i can to work down the block from the twin towers on that fateful day and i saw what
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happened, now seared in my memory. 22 years later i fear that old generation hasn't learned what went on down here and future generations know even less. it is like when my dad made me listen to fdr's speech that will live in infamy speech over and over again. the twin towers started a global war on terror and will sometimes it can feel like terror one, who knows how many terrorists were thwarted by the government? when i ask young people what they know about 9/11 i get a blank reaction. they know the date and something terrible happened, but they have no memory. fortunately we have an amazing museum that captures that horrible day. it should be your number one destination if you visit new york city. i've always felt useless on this anniversary, i said day of remembrance. i didn't feel that way today because i got to participate in raising money for all sorts of charities, which i think is a wonderful way to commemorate lives lost by helping less
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fortunate today. so thank you for allowing me to join the fine people at the firm and their clients in a day that will certainly live in infamy, but also a day where we honor those who perished senselessly and tragically 23 years ago. i like to say there is always a bull market somewhere and i promise to find it just for you right here on "mad money". i am jim cramer. see you tomorrow. acity that i , and nothing's gonna stop me. what you've done is just inspiring. narrator: and the dream continues now. kevin, they say you're wrong. i'm never wrong. i'm always right. i will make you a millionaire. look, i'm rich. i'm really, really, really rich. -ha ha! -oh, my god! -we got a deal! -welcome to "shark tank". look, i'm just an investor trying to scratch out a living here, okay? -- captions by vitac -- ♪♪

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