>> steve >> walmart >> baba. ho ho ho >> they must have said one-word chances. >> now we have all this time >> do we >> thank you for watching "fast money. see youi mean they must have sa one-word answers >> quick now we have all of this time thanks for watching "fast money. see you back here tomorrow "mad money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. my friends, i'm trying to make you money. my job is not just to entertain but educate and sweet. call me at 1-800-743-cnb or

tweet me @jimcramer. the resilience in the market is fuelled by the idea so many companies are better than wall street thought we need to stop turning against them every time there's a single seemingly bad data point >> boo >> every day i come to work and i'm dazzled by the resource full until of executives that create value for you, the shareholder lots of stocks go up the nasdaq jumped 1.0%, simply because of good management and excellent execution! that too often is unnoticed. i can hit ceos with withering questions, if i have to. some of them deserve scorn and skepticism, but there are plenty of brilliant hard-working ceos with incredible hard-working teams, and you ignore their hustle and your own peril. this is often lost in the shuffle when we are focused on

guessing the fed's next move a quarter, a half. you know what i say? let's get serious. terrific companies do not get caught up in the quarter-half shelve case in point, we got the results from kroger who is trying to buy albertson's. you might think kroger is distracted as it tries to close on the deal and that's what analysts assumed but it turns out the reverse is true the ceo's magic kept costs down and delivered fantastic numbers while maintaining an expensive unionized labor force in a commodity program. they can regionallize stores and create some of the best store brand products out there, second only to costco food is still expensive but cooking at home is cheaper than going out. it goes double for his most budget conscious clientele and he has one now he points out, quote, budget-conscious customers are buying more at the beginning of the month to stock up on

essential items and groceries and as the month progresses they're more cautious with spending, end quote. that's a tough environment when i heard this i thought back to the old kroger, the one that perpetually missed numbers whenever the environment got a little tough everybody else remembers the old kroger, too. maybe that's why the stock was sitting there waiting to be had until the quarters reported and it soared more than 7% in response to the results. everybody thought kroger would drop the ball like they used to, but it has been whipped into shape hence the amazing rally in kr as stocks go it is a straightforward story. we all need to eat so it is not hard goat your head around the grocery business, but it is quite different when it comes to tech where the analysts are constantly doubting the resolve of ceos who mow far more about their own business than the critics. in tech the complexity is such wall street often reaches conclusions that have little to do with reality. >> boo >> consider the case of amazon

>> all aboard! >> the most important component of amazon is not the store front, it is amazon web service aws because the cloud business has the best gross margins sure enough, after a couple of sub optimal quarters, called open tim dags which is tech speak because customers are worried about the economy, the web service business exploded. it gets better and better thanks to generative a.i., and that caused me to love amazon's last quarter. but the street ated it >> sell, sell, sell, sell! >> because amazon prime had a couple of weak shopping days, including a great saturday where business slowed down because someone tried to assassinate former-president trump soon after that the nation was trans fixed by the olympics and amazon feared it could slow kbus spending next thing you know, the stock is in free fall. falling from 184 to 154. i was jumping up and down telling club members in the investing club just buy it

we bought it ourselves for the trust. i made it clear i had had total faith in the ceo and it is business as usual at amazon. i know i came off as a house man for amazon, i was aware of that. he still loves amazon, but i really don't care. you see, he is a little like coach andy reid from the chiefs. you can expect him to do what is necessary to win today amazon stock traded back above where it was before the so-called horrendous quarter you were rewarded if you stayed with it and you bought more when they were just giving away the darn stock >> buy, buy, buy, buy, buy >> how about broadcom? yes, one of the hardest stories to understand because there are many moving parts that aren't well-known in fact, unless you study the underlying plumbing that extends from the data center to the internet or from the cloud to the data center, you probably don't know broadcom's core growth driver. when they last reported the stock fell from 153 to 137 even though it bite expectations, because people didn't like what they heard about the a.i. portion of the business.

broadcom told you that the a.i. business remained in turbo-charged growth mode. it had turned the corner and gotten very strong almost nobody listened when the told you all was well in a.i i was not concerned about the a.i. division. why? because the bank of broadcom told us not to worry he told us the a.i. business was going to accelerate. instead of joining the negative fray i said why should i doubt the all-time great coach when he has been right for ages. it is up to 164 and change, well above where it was before it was trading before the so-called bad quarter. if you gave the ceo the benefit of the doubt he deserved you could have made a fortune in less than a week last week we heard how disappointing the numbers were for nvidia yeah, cancel the watch parties no more tailgating for nvidia. it traded about 126 before it was laid to waste. full to 102 last week.

the world gave up on it but they didn't know why or how they didn't know what nvidia does they certainly can't pronounce it this week those who panicked and dumped the stock guess what i think they're trying to remember why the heck they did something so stupid. we now have learned that demand is so strong for blackwell, the new super computer chip set, shipping in volume -- it will this year, the ceo said clients, i love this, are getting emotional about it emotional about allocation that sure doesn't sound like nvidia has a demand problem like was speculated at the time sound like, hey, they have too much demand. plus, jensen talked about accelerating computer which uses the ultra fast to handle anything intense rather nan the cpu usually made by intel. it is way, way faster and cheaper when it comes to energy consumption, which has become the key variable when talking about the total operational cost

of semiconductors. next thing you know the stock is at 119 can it get back to where it was before the so-called horrendous quarter, back to 127 all i say is why not it is right to be skeptical and jaundiced when investing, but the bottom line not every executive deserves the same level of skepticism if not scorn. some ceos earned your respect when we are talking about these. i'm giving them the benefit of the doubt. maybe you should too why don't we go to ian in north carolina ian. >> jimbo, how we feeling >> i don't know. what is shaking with you i'm feeling pretty good. what is happening? >> everyday is a holiday >> i hadn't thought about that what holiday is today? what are we celebrating? >> we got football back on i know it is week two, but, hey. >> that's right. and north carolina has the panthers i forgot >> we're real excited about that, jim. >> everyone is hey, i'm taking all of your guys

in fantasy because i'm trying to throw my league. then everyone will love me i'm throwing the games let's go to work >> cool. one of my old favorites from the covid era is up 21% with rates dropping in a large short interest do you think now is a good time to double down on upstart? >> i think it is tough because if the economy gets tougher upstart will be hurt i brefr if you are in that area a firm i think is doing well and, max is delivering people were skeptical. he is delivering mandy in maryland. mandy. >> hi, jim how are you? >> mandy, i'm pretty good. everyday is a holiday. >> oh, that's wonderful. >> i just thought of it. >> glad to see it. love your show >> thank you >> thank you for teaching us how to invest. >> oh, thank you you know what? that is the goal you hit the goal you're very kind

i expect everyone to learn, emulate, and they will be teaching the next generation how can i help you >> i have a small acquisition. i bought eight shares at 180 shall i keep buying or should i just stay put and hold on to what i have? the stock i have in mind is nxsd >> next star media you know, i saw someone at dinner i was at a restaurant recently at porter house, and i just congratulated him. he is doing a great job and the answer is buy more i would buy another two before the election i think it is the right place to be thank you for the kind words listen to me, in this market i think it is worth giving ceos like andy jassy and rodney mcmullen the doubt every day is a holiday

we had calls asking if cava could be the next chipotle and i'm going to the ceo to see where cava stands in growth. callaway has been a big mess unfortunately i got wrong. got to own that. some stocks do right, some do wrong. signatures shine bright like a diamond and i'm getting the latest on the company's top brass. statement with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on "x. have a question? tweet kramer, #madmentions send jim a mti tenono madmoney@cnbc.com. or give us a call at 1-800-374-cnbc live ambitiously

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some stocks just don't know when to quit take cava group, the fast casual mediterranean chain that came public a year ago. i started recommending at $32 last november and it is now trading $125 and change thanks to a series of strong quarters, up 192% since the beginning of the year the last time they reported toward the end of august they delivered 14.4% same-store sales group fuelled by 9.5% uptick in traffic which is what you want to see in this environment since then the stock is growing, how long can it climb? let's check in with the co-founder and ceo of cava group to find out. good to see you. >> jim, thanks for having me great to be here >> you had one of the most incredibly exciting accelerations in business i think i can recall, particularly in the restaurant and service business did you see this surge in growth >> we always believed in the potential of mediterranean as

next large scale cultural cuisine category after going public we saw the awareness grow across the country as we expanded across the country, helping to drive the results you saw last quarter. >> let's talk about cava you opened in chicago, opened a few stores and then next thing you know it is blow-out. how people heard of you and why was the opening so strong? >> you know, it is interest in we had a lot of people, we're 14 years old so we had a lot of people that lived across the country. we operate in 25 states and the district of columbia they've experienced cava, asked us to come to chicago for years. we were so pleased with the warm welcome we got in the chicagoland area >> when i read that and said 341 stores, you could put up maybe 1,000 stores, that's how i feel about cava >> well, we have a target of 1,000 restaurants by 2032, and that basically implies a 15% plus compound unit growth rate from here to there >> that is incredible. i believe you can do it because you are so -- we call it in law

school, sui generous i want to ask you to explain to people what the difference is between price and value. >> i talked about this a lot lately i think the value wars are a bit of a misnomer. i think they're more price and discount wars. price is what you pay for something. the value is what you get, the worth of what you receive. we frame value as a combination of attributes. so the quality of our food, the relevance of that great mediterranean cuisine, the on-trend cuisine unique where taste and health unites. the convenience to access that cuisine, whether it is our 45-plus digital drive-through pickup lanes or digital order or delivery to your doorstep or the experience you have when you come into the restaurant and experience the walk-the-line format and the team hospitality our team members deliver >> let's talk about the notion of on trend. when is a trend an actually? is it not true that these people that are between 18 and 26 care more about their health than any generation before them >> yeah, jim

you are seeing large-scale secular trends that on the one hand the country is getting more diverse. 48% of gen-z identify with an ethnic minority, up 39% from millennials. gen alpha will be the first to cross the 50% paradigm, and what we seeand know is as the country gets more diverse people's palates are broadening out, seeking bold and adventurous flavors but at the same time becoming interested in elt had and wellness trends and understanding the food and how it impacts them. that's where cava comes in that's where our mediterranean cuisine comes? >> i have a vegan daughter and she loves cava then you put steak in, so now i want to order as well as her that was a smart move to be more inclusive. >> we have always been pretty balanced about 55% male, 45% female, and then our day part mix, 46% of our occasions are for dinner we are an intuitive choice for

dinner we want to welcome everyone to our table. what is so great about our food is with 38 ingredients on the line, you have over 17.4 billion combinations, whether you are a meat eater, a plant-based eater, whether you are a flexitarian, and i know you don't like garlic in your bowl >> that's true >> you can get a bowl without garlic so everyone can be happy at cava >> i thought steak would be great for dinner turns out to be a boon for lunch. >> that was a pleasant surprise. we had confidence it was going to be strong for dinner but we have seen it adopted for our lunch owe case as well >> you introduced the concept, at least to me, the post-inflationary environment. that's what you say we are in. at the same time either you know that people are struggling or there's an element of struggle among everybody's everyday life. but you also know there's a value proposition that i believe will only be enhanced when you bring in your loyalty program in october. so i'm thinking there could be an acceleration of numbers here. >> we are always buying full

our philosophy is we want to invest in our team members, we want to invest in our guests creating long-term restaurant-level expansion and shareholder value. our loyalty program is another part of the equation so we're excited in october. we've -- to launch this program. we had the same program for over a decade, and this is a new earn-and-bank points model with a catalogue, a menu of reward redemption options you can redeem your points on your terms for your favorite cava item. >> well, i think it is very, very smart project soul, we have to talk about that what does it mean? >> so this goes to what we feel like is this consumer convergence in the restaurant industry that we sit at the nexus of we are seeing trade down from traditional full-service casual dining when you think about the value proposition i talked about, quality, relevance, convenience and experience, we see people still want to share a meal in our dining room. 65% of our customers come in our restaurants. we have great convenient digital channels, but we want to have

great experience channels. you know, sharing a meal is the oldest social act known to human kind, and as technology and automation permeates the front lines of many concepts in everyday life, people crave the connection we want to be a place you feel the connection and you can have the warmth of the new project soul dining room with the enhanced brand palate, enhanced greenery and softer seating to eat your favorite cava meal. >> against that i want to talk about the notion of price and value. mcdonald's today said they're keeping the $5 again, it is not really -- are they in the same business as you? >> i think we're in a different business in a sense and i don't think you can discount your way to prosperity. we want to focus on the guest experience andthe total value proposition and the quality of what we are eating, and what we're seeing is consumers are willing to pay a $dollar or two more, sometimes at parity with the increase in fast food in the last few years and they would rather have a fresh bowl of mediterranean food than traditional fast food. >> i think, people, you can see

why the stock is so good there's ethos, quality and execution, and there's bret schulman, co-founder of the cava group. >> thanks, jim >> "mad money" is back in a moment >> land on the green, next >

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♪ ♪ every now and then you need to look back on your mistakes, figure out where you went wrong. as much as i hate losing, at least it is a learning experience it brings me to top golf callaway brands. the company created nearly four years ago when callaway, the golf equipment and apparel maker, merged with top golf which runs high-tech driving ranges so popular in the pandemic i recommended callaway repeatedly, most recently when the stock was in the 20s last year, now it is at $9.20 and change in retrospect it is not hard to see where it went wrong. callaway bought top golf and it was lapped up. we talk about how callaway fits perfectly with topgolf's technology platform, but after it closed the stock peaked at $37 a few month later only to

spend the next three-plus years stuck in a sickening decline again today it is at $9. it is has gone so badly last wednesday night management decided to pull the plug the company is breaking itself up, spinning it off as a standalone public company. no harm, no foul i don't know even that hasn't helped the stock. in the six trading sessions since the announcement it has fallen 12% because it is a clear admission that the whole merger was doomed from the start. full disclosure. i bought into the hype and was hopeful about the topgolf acquisition at the time. i told you to point your horns t this one in april of 2022. when i surkcircled back i was bullish because it had come down so much. obviously it was a real bad call what happened here what went wrong? why didn't callaway topgolf merger work? for starters, let's not forget golf had a moment during the pandemic because you could play with your friends outside without putting yourself at risk of catching covid.

now, i thought that would last post-covid, but that turned out to be a little too optimistic. golf has tapered off a bit the national golf foundation tracks aggregate rounds played which declined by 3.7% in 2022 it started picking back up, 4.2% last year. in the first seven months of this year rounds were at 1.3% up, just okay. but when callaway decided to buy topgolf in 2020, rounds were up nearly 14% year over year. they were 5.5% in 2021 # obviously the high-tech driving range looked attractive when we had lots of new golfers but now the industry is growing at a slower pace and that crushes the stock. it doesn't help it is an expensive sport to get into at a time people cut down on discretionary spending more important, there's lots of new competition. pickleball has taken the world by storm over the last couple of years and it is easier to set up a game of pickle balance than a round of golf.

that's what happened but there's a simpler reason it blue up in callaway's face it fizzled in the third quarter of last year they were up just 1%, and by the fourth quarter they were down 3%. as for 2024, same venue sales sunk 7% in first quarter and then 8% in the second quarter. when we learned of that first major deceleration from topgolf in november 2023, jpmorgan's boss downgraded stack more than usual, citing data people stopped seeing it as a good value proposition over the last three years it seemed too expensive. it has become a problem over the past couple of quarters as consumers started to push back against high prices. if you look at the most recent quarter reported over a month ago, it was another disaster that send the stock down nearly 20% over the following three days topgolf same-venue sales were

down 8%. it was admitted things would not get better any time soon the ceo threw in something interesting on the conference call topgolf's consumer business isn't doing that badly it is the event, corporate side getting killed he explains it is a normalization from a post-covid surge as well as softness in demand typical of slowing economic conditions in corporate belt tightening, end quote he sees it continuing through the current quarter, too so basically topgolf fell apart because, one, it simply is less popular in a post-pandemic world and, two, management became over confident in the popularity. they got aggressive on pricing the point was bringing in people who might not be willing to shell out $100 or more to play a round of golf. callaway bought topgolf to get a growth driver and now it is not growing. at the same time callaway's side of the business, meaning golf and active apparel is shrinking

too. callaway's brands don't seem to have a ton of juice compared to rivals i have to wonder if the combined company under invested in the golf equipment and apparel side of the business as it committed lots of capital to briluilding top-golf locations turns out there was never synergy between them anyway. callaway makes products and topgolf runs entertainment venue. now that callaway is spinning off topgolf to undo the acquisition they're basically admitting this was all bogus all of that said i think the standalone callaway has the potential to turn around it could be a good value stock once it no longer has topgolf albatross around its neck. you need a healthy amount to survive in the stock-picking business and i was never skeptical enough of callaway's acquisition of topgolf i am less sanguine about the

topgolf side of things for now it is a pure corporate tragedy. let's go to tyler in california. tyler. >> hey, from california. how you doing? >> i'm doing well. how about you? >> i'm doing good. thank you for asking what are you thoughts on nike holdings >> i am a tag negative on nike . hoka is doing well everybody other than niekke is doing well i like them very well. let's go to russ in north carolina russ >> hey, jim. it is so good to talk to you thank you for your many years of service and your education it has been awesome. the ticker symbol that i would

like for you to analyze is fdx i know earnings is coming up next week and they're in the middle of cost-cutting efforts i just wanted to know what you thought about the stock. thank you for your many years. >> thank you, russ thank you for those kind comments we have a long day, we had the investing club meeting today and when i hear something like that i say to myself, just keep working, keep doing it as for your stock, fedex, i think a remarkable job has been done it is a multi-year term. nothing will be too blow away, but i think you should be in the stock ahead of the conference call because i think he is going to tell a real good story. now we will go to josh in florida. josh >> jim with interest rates coming, what are your thoughts on sofi technology in the year-end >> i think you buy sofi and the interest rate cuts, down 25% for the year, even though it is incredibly well run.

to me it seems like an opportunity. anthony has come on several times. we did need to see some news about rates, but we also, frankly, i would like to see people so equate this thing and conflate this thing with student loans. it would be terrific to see, of course, if you are a student loan, hold your ears, it would be interesting to see if you maintain the payment of student loans it helps sofi psychologically. it is really a fintech, and that's what matters. all right. look, i think a standalone callaway has the potential to turn itself around it could be a good value once it gets out of the topgolf sand pit. next with signet, the jewelry company. why wall street is falling back in love with this when i sit down with the ceo. there's a lot to talk about there. there's a new head at the helm of starbucks i am sharing way think you should do with the stock amid the leadership change. of course, all of your calls,

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♪ ♪ love is in the air, at least on wall street this morning signature is the parent of kay, zales and several others they sent the stock flying 11% how did they pull it off in truth, the stock was good but bulls lapped it up because it is graded on a curve. interest rates make it harder to borrow money to pay for an engagement ring, and the stock was down since the last quarter in may maybe it was better than feared but can it keep improving?

let's look with jenna drosa who joins us now although the times have been mostly good. welcome back to "mad money." >> great to be here. >> today was an important day because you signalled something could be in the air besides love it makes me feel more confident it was not a one off, things could be betting better. >> we predicted engagement rings would experience their covid about three years after lockdowns because that's the normal amount of time it takes for a couple between when they meet and they get engaged. in fact, that's exactly what happened in 2022 we saw engagements down 12%. 2023, 25%. we said about this time we would see engagements become, you know, popular again, and that's exactly what we're seeing. we see it in our results we had positive engagement units, you know, q3 to date. we also see it in data like google search, instagram search and some milestones of dating we

track. >> well, i was concerned i knew you were coming on and i was worried. i will tell you why i was worried, because of rates, interest rates it is a discretionary item people can trade down, they don't have to go to the more expensive units but it didn't work out like that, did it >> well, we thought that engagements might come back a little faster, but there is a cautious consumer. >> okay. >> so what we're seeing is that there are more couples than at any time in the last several years who are ready to get engaged but they may be just taking a little longer as they're shopping a good statistic on that is that we see people coming to our websites 15% more than they were just a year ago so that they can search and browse and make sure they're getting the right thing. >> there's also a trend in fashion that makes me want to go to the website to see what you have done. there's a newness theme. you wanted newness but you accelerated. >> we have accelerated newness it is a great story in the quarter. it was up 50% versus last year

25% of our sales, which is 800 basis points, higher than last year we really accelerated. it is on trend it is at the right price points and consumers are buying it. >> we are heading into holiday season tell us what is on trend so i know what to buy >> yeah, you know, it is a great time i say there's a lot of innovation that we're bringing one is sculpted gold you know, gold prices are high >> all-time high >> but people still love a big look we have a technology called sculpted gold which has a hollow center so you get a big look without the heaviness and without the cost so great on that we are seeing a lot of good new ideas in fashion, lab-created fashion was up double digits in the quarter. naturaldiamond fashion is also good tennis bracelets, tennis necklaces. in fact, zale's just about a collaboration with tennis at the u.s. open for tennis bracelets and some beautiful fashion jewelry. so lots of good innovation out there. >> could tennis go from being

fashion to being something staple a lot of people traditionally like to give that look it is something that really special, do you think, multiple years for you guys >> i do. i think tennis bracelets and tennis necklaces are trending right now, mostly for women but also for men >> for men >> yeah. you should consider -- >> that's a surprise >> yeah. >> service continues to be a bright spot. >> it is >> kind of an annuity now. >> we have grown our services positive comp the last eight quarters in a roseau tw, so it 1.8% a quarter services are an important relationship builder for us. >> explain that to me. >> once people buy a piece of jewelry, they come back to get it checked we make sure the prongs are tight. we polish it up for them it is just a way to see them over time, which i think is great. we take great care of their jewelry. it is like you wouldn't buy a car without taking it in to get it serviced. >> right >> it is the same with your jewelry and we can provide that. so it has been -- it is very strong, a high margin product

for us >> i just figure, i want steadiness one of the reasons i wanted to and we talked about it, you and i both know your stock is inexpensive. you buy back stocks, you are always fixing the balance sheet. but sometimes i feel like you got -- and i felt like this last quarter. you bought so much stock in, the stock doesn't trade smoothly i'm wondering how to change that i mean you could be underneath because you did your buy back. you did not do a by rote buy back, you waited until the right moment to bought, but we want the stock to be less herky-jerky. any thoughts to make it so it is less crazy >> well, i think one thing is just in the business itself. i mean we are really - >> good point. >> -- making ourselves more inflation proof, more macro proof by having a good, better, best assortment. so we have something for everyone at the right price point. that's why the newness is doing so well. i think within the stock, giving back capital to shareholders has been a hallmark.

>> fantastic >> over $2 billion in my tenure of share buy backs and dividends. that's something important to our management team and our board. i would expect that to continue. we will buy the stock when we think it is a great value. we have a growing dividend so continued with our great balance sheet, continued opportunity. remember, our preferred shares come due in november >> yeah. >> and that, you know, combined with our other actions is really, you know, eliminating 15% dilution in the stock. so that's a good thing on the horizon as well. >> last question where are you going to let us go with you for the holiday season so we can see the newness ourselves? >> we should definitely be in store. we put a lot of money into stores this year it is our biggest year-of-store investment we have 300 renovations that have been happening already, will be completed by holiday so we should go to one of our new concept stores and see all of the newness and all of the engagement rings because, as you said, love is in the air >> yes, it is. these people should get on the case and stop waiting! they don't know what they're

missing. >> that's true >> anyway, ceo of signet, sig. we will see each other together for a holiday extravaganza of the best stuff you have. >> sounds great. >> back after the break. >> announcer: coming up, hit us with your best shot. "lightning round" is next. ♪♪ ♪♪ citi's industry leading global payments solutions help their clients move money around the world seamlessly in over 180 countries... and help a partner like the world food programme as they provide more than food to people in need. together, citi and the world food programme empower families across the globe. ♪♪ is it me... or is work not working?

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and then the lightning round is over are you ready? joseph in florida. >> hey, jim. go birds >> go birds. what's happening >> what's happening? so, jim, it seaems like the wort is behind comp looks like a forward p/e of three which seems too low. what's a good multiple for this company? >> okay. we are talking about com this stock has been on a real tear i don't know why, which means therefore i can't opine and i must do homework i thank you for that go eagles! gene in illinois gene >> hello, mr. cramer >> what is up? >> thank you for taking my call. >> of course >> and giving your keen insight. i hope you and your family are healthy and doing well >> doing okay. thank you for asking hope the same for you. >> okay. there's been a lot of recent buzz about kquantum computing an

i want to ask your opinion on one of the pioneering companies, symbol ionq. i have heard good and bad reviews. what is your review? >> it loses too much money, cutting to the quick when it starts to make money, even if it is higher i will take a high look at it. but companies losing money right now get no traction. mark in massachusetts. mark >> hey, jim. how are you? >> i am good how are you? >> good. playing a lot of golf and i have been looking at the fitness watches which lead my to garmin, grmn i want to get your thoughts on that >> they have unbelievable fitness watches. i happen to be a boater and fisherman. they have unbelievable fishing equipment. garmin is the real deal. we profiled it a long time ago and said, you know what? this company has it going. people have given up and they're wrong. peter in connecticut peter. >> how you doing >> thank you back at you.

what is happening? >> i was just wondering what about contreras. would you say -- >> it is the only oil company we have left. you have to go listen to our recap of our conference call we did today, jeff marks, it was our club call. we had meeting and i talked about how hard it is to own oils we only want to own coterra in that group warren in arizona. how are you doing? >> not bad jim, first time i heard you was in 1998 when your first tom was hertz back then that you were talking about. >> previous hertz, but absolutely i think at that point, i don't know if you were born yet. go ahead >> i have a stock i like to know about, bank of america >> okay. warren, get this there's another warren destroying the stock on a daily basis, warren buffett. i think the stock snaps back

at the moment he's sold so much he can't hurt the stock any more i want to be in 11 times earnings and i like it ian in florida ian. >> booyah from sunny, florida. >> there you go. you got the edge on me, partner. what is happening? >> jim, i want to let you know, third-time caller, club member as well. >> oh, yes hope you enjoyed today's club meeting, jeff shine with the home depot review. what is going on >> i thought it was great. great meeting. >> thank you >> thank you for all you do. >> thank you >> jim, i have a question about a stock well out of the tie of 500 or so. recently had some good earnings about a month ago. so it is up a little bit, but i really like the stock. it is mongo db >> you know, it was an enterprise software company that put up terrific numbers and not getting credit in the same way salesforce isn't i think it is at the right price. and that, ladies and gentlemen, conclusion of "the lightning

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♪ ♪ an investing club member hit us with an interesting question the other day. question about starbucks they wanted to know why we hadn't sold some from the chapel trust given the stock's remarkable resurgence since brian nicholl was appointed ceo. it was at $75 a month ago before he was named at chairman and ceo and trades at $99. my short answer is chipotle has a way about him that allows you to shine sta starbucks had serious problems and so did chipotle when he took control. the restaurant part of the bottom seemed paralyzed.

now chipotle is up 56, in large part because of the execution brian brought to the company i thought nicholl, coming from taco bell, was an odd choice after all burrito, taco bell had a ton of ingredients, many seeming like they belonged in a chemistry class. chipotle burrito had eight ingredients and all natural. i questioned the choice on air i never thought he would talk to me after that. i couldn't be more wrong he wanted to learn from me and everyone and he orchestrated one of the best turnarounds i have ever seen. i put out a letter earlier this week to explain how to restore starbucks to greatness one, explain there's plenty wrong and, two, say he wouldn't let anyone else fix it except him and a hand-picked team like he put together at chipotle. while he sees what he likes, he knows the blocking and tackling is wanting and the idea starbucks -- let's see it has gone awry, go away big issues

they include things that really troubled his predecessor like a disturbing and at times violent boycott that kept scaring off important occasional drinkers that couldn't therefore be converted to regular customers instead of pair afralysis you w is not a strategy, he sees potential for growth, especially in regions like the middle east where we will work to dispel misconceptions about our brand, end quote. i don't know how he will do it but i sense he has ideas better than the previous regimes. my real concern comes from going back and reading the first two conference calls after he took the reins at chipotle six years ago. the similarities turned out to be ererie he recognized simple mistakes that needed to be made, noticing that controls were wanting and he made clear he wouldn't tolerate anything but customer

satisfaction considered two solutions, but my ideas will seem pedestrians versus the ones in his head right now. he knows food and marketing better than anyone right now, so i will refrain from offering my critique and watch as he goes along in his journey establishing a uniform, simple, understandable process that's not taxing on the baristas it ends up taxing the customers which is what we have now. when you go back to his early days at chipotle he could have been overwhelmed he went for simplicity and simple blocking and tackle in. he went for process. i don't see a million permutations of drinks continuing please all, please none. i wish i could say we didn't sell starbucks because brian has his plan to do this, but it is too early for specifics. we are sticking with the stock because while the task at hand is bigger than chipotle, the brian nicholl we are getting at starbucks is better than the brian nicholl we got six years ago at chipotle. time to let brian be brian he will figure it out and i bet

he does so far sooner than anyone expects initially it might only be in a handful of stores, but when he figures out what works it will be in your starbucks real fast fast enough you will regret selling the stock now, with some sort of opportunity to buy it back, say, 10 to 12 points lower. i say strap yourself to the mast and go along for the sail. like to say bull market summary. i'm jim cramer see you tomorrow that really worries me. the road of entrepreneurship, it is full of heartbreak. tonight on "shark tank". >> i will be the next toy brand in america >> it has been a journey but we're all in >> there's a lot going on financially that worries me. o'leary: that's outrageous! whoa. wow. all roads lead back to mr. wonderful. i've heard that so many times. unfortunately, so have we. ahhhhhhhhhh! ♪♪ narrator: first in the tank