Mad Money w/ Jim Cramer 3/23/26

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Hey, I'm Kramer.

Welcome to Mad Money.

Welcome to Kramer, I'll be with my friends.

I'm just trying to make you a little bit of money.

My job is not just to entertain, but to educate, do some teaching.

So call me at 1-107-4-3-CBC, or tweet me at you, Kramer.

When things go crazy, everyone gets a vote.

That's how the markets work.

Right now, at this moment, things are about as crazy as they can get.

So the voting booths are wide open.

Let me show you how the voters are determining the outcome.

With today, the Dow gaining 630 month points,

as it be jumping 1.15% in the NASDAQ climbing 1.38%.

Five, I buy.

First, let me set the table.

Until this point at 7.05 AM, we looked like we were going to be goiners.

Yeah, another hideous day coming our way.

It almost seemed ordained.

When I get up at the despicable 4 AM time,

things were steam rolling toward ugly.

At the time, interest rates were looking up.

West Texas crew was back above 100 bucks a barrel.

Gold was crating, apparently a margin selling,

and stocks were their usual awful.

With the NASDAQ, as always, the most awful looking to be down almost 1%.

Again, at that pre-dorn moment, the SB500 was down about 7.6% from the high.

But then again, I thought to myself, still plenty of room to fall.

And if you're shorting the market, you feel like a genius.

I've seen this before.

Shorting stocks feels like an annuity in this kind of environment.

I call it fishin' about.

And if you're long, well, let's just say it's death by a thousand cuts.

Like every morning, I'm glued to the stuff all the way to the office,

and just look like another miserable day.

I've been signing thousands of copies of how to make money in any market yesterday,

dreading what I knew was going to happen today.

Because everything is tit for tat, right?

Anything we can say Iran seems to be able to say better.

And a skeptical U.S. press had us losing in a match that wasn't even close.

Then it all seemed to change.

It changed with the truth social post,

announcing the suspension of the bombing for five days.

They were supposed to start tonight at 7.44 pm.

President Trump said he was speaking to an important person in Iran

over the weekend, and they said, good, the talks were meant to end the war.

And that's when the vote started coming in.

Oil instantly fell to 84 box-yptom, and before bouncing to the high 80s,

it was like a straight line.

As if it never traded the 90s at all, resounding moved the oil voters believed.

The president had a bunch of narrows about the talks,

including one where the Iranians reached out to stop the war,

including the oil guys endorsed that story.

Second of the polls, equities.

The doubt been down several hundred points when the president's two social posts appeared,

saying the talks were going, well, we don't know, though.

But he said they were very positive.

Immediately the doubt ripped the faces off the bears.

Touching plus one thousand points, although it finished the date only up 600 points.

I felt like someone had gotten to the leaderboard and moved some numbers

around a fooless. The nas have been down a percent.

Now it was up almost 1.4 percent.

The S&P off about 0.5 percent, shot up 1.15 percent.

Stock seemed to believe that the president's emissaries, Jared Kushner, and Steve

were working behind the scenes, magic.

Let me tell you, I had to reach for technical term, but it was really going on.

They had a ton of mojo.

But not everyone was all in by 7.30 AM.

The skeptics went to work.

I first saw them creep into the bomb market.

Longer rates, 10, 20 years after being down, about 15,

six started to move toward even.

I thought they'd make a higher.

Uh-uh, didn't.

One of the most important side effects of this war has been the dismantling

of the bullish bomb market.

We should have been playing ball at President Trump going his way,

making the job of incoming Fed Chief Kevin Marsh very easy,

with the long ways coming down.

You have any two secure rates.

That'll end when the war started.

Since then, there's been an inexorable endless slow-walk higher bond yields.

Exactly the opposite of what the president needs to get housing moving again,

but the natural trajectory when we get into a real war.

We look at the stock averages and notice it going down.

But we haven't paid enough attention to how the bomb market's voting.

Oh, look, I'm a bomb market addict for a long time.

In the movement, the bonds have been like one long, nasty,

20-part Netflix series you got into and you just can't extract yourself from.

Some days were worse than others,

but the direction was always true and always bad.

That's why it didn't surprise me when the rates barely got back to even.

They momentarily traded the black with them back though off.

Given how high rates have gone during the war,

a rally only backed them even.

Well, I meant that the bomb buyers they weren't buying with the president was selling.

The bonds seemed to indicate that the president was bluffing.

There was no Iranian contact, there was a convenient self-created off-ramp.

It thought it was all made up, the bomb guys.

As it happens, the Iranians later claimed there weren't any good changes,

so maybe the bomb people were right.

But then the strangest thing happened.

It just reached, switched their vote.

Rates slid down for the first time.

It seemed like ages.

Who knows what convinced the bomb market to get back on the board,

the back channel was working, or that there was even a back channel.

Who can figure out what happened in the mid-morning to make bonds go more than positive?

But the move was palpable and gave stocks a second win,

making me feel that perhaps something really good is actually happening.

Or to put it in a way that you understand in the early morning,

the bomb market was screaming that there would be no rate cut.

And they had to do it saying, hey, listen, we might have a rate cut in front of us.

A possibility.

Then there's Golds vote.

And Gold was crashing overnight, dropping to $4,098.

That's an ounce, that's a 9% dropping.

But then at 60, I'm a little less than an hour and a half from two social posts.

Gold took off, spent the whole day fighting to get back even though it didn't.

Did Gold know something ahead of time, or was Gold just stupid?

I don't know, and who can tell?

It was like Gold didn't know what was on the ballot, mentally absentee.

Stocks wavered on their positive vote midday.

But perhaps because they ran denied the talks at 1151, right?

Hold it, just a second, where did they deny it?

A post on Exable Things by the Speaker of the Iranian Parliament.

He called Trump's post fake news.

Hey, wait a second, isn't that our term?

Who was their term too?

Then again, the account isn't even verified, so who really knows?

We got one more bounce in sync with the bond rally.

It's still Canada's vote, but Gold had a more skeptical one.

The actual close seemed pretty darn muted.

But at the end of the day, here's the way I look at it.

I have to tell you, it felt like the whole rally reached a fear.

Fear by those who are under-invested and better, take down some stock,

because they don't want the market to take off without them.

Fear of the shorts that the pressure she made during the month of March

may go away with a real peace agreement instead of the bog of war.

Let me get to the bottom line.

There are some labor turns, but nothing can change the overall tally.

The bulls carried the popular road, but somehow,

unless Iran does nothing, no missiles, no drones.

I expect a recount tomorrow.

Hey, let's go to Lewis in New York, Lewis.

Buoyah Jim, hey, longtime listener, first time caller.

Thank you so much for taking my call.

Jim, I'm calling to ask you about a defense and aerospace stock.

That, to be honest, the past couple of years,

has had to fly through some very turbulent skies.

Now, with the recent management change and a surprise earning speed,

the stock appears to be flying at calmer skies.

Jim, I'm calling to ask you about Boeing.

Oh, boy.

Okay, so Boeing is a chapel trust team.

Here's the deal with Boeing.

The stock was just soaring.

And then people start to think that because of the war,

there won't be as many plane orders as people think.

Now, there's like a, there's a lineup for planes

stretching as far as the eye can see.

That's not going to be what happens,

but the nerves got negative, not the stock itself.

I think the stock is a bar.

Now, we're going to Daniflar to Dan.

Buoyah Jim, thank you so much for taking my call.

I'm a member of your book.

Excellent.

Thank you, buddy.

Thank you.

My question is regarding RKT.

They posted really good earnings last quarter,

but the stock has been down ever since.

I was wondering what your thoughts were on it.

This is totally a vote.

You can look at the chart.

A vote on whether this could be a rate cut.

People say that only today was the first time I heard

that there might be a rate cut.

Again, remember, they kind of got dashed by the war.

I would not give up on this stock at $14.

I think it represents value.

Hey, why don't we go to Brad and Connecticut, Brad?

Can we tell how are you?

I'm chilling, my friend.

How about you?

I'm good.

I'm looking for a bull market somewhere with service now.

Okay.

Now, what we're dealing with here is stock sells at 26 times earnings.

That's incredibly cheap for a great growth stock.

But we all know that there is turmoil when it comes to

software as a service stocks are so bearish.

It's so painful for me to say this,

but as much as I respect Bill McDermott,

I think the stock is going to be in for a little bit more

chart view on Senate already has been.

Because that particular SAAS business model

is just like intensely right now on Wall Street.

All right.

The bulls carried the popular vote today.

We're just going to see if it holds tomorrow.

Maybe it recounts in the offing.

Oh, man, tonight, swarmer, oh, you asked we tell.

It's just the latest example of an IPO

with a good story that's quite investors' attention.

I'm going to break down and see if there's new names

should be part of these levels.

I think it's ultra beauty, give you a portfolio,

and much needed glow up.

I'm Graham in here, partly.

But I am going to sit down with the CEO

to see if the company's turnaround story is still in place.

And Jacob's solution, letter J,

has a hint so many mega trends out there.

So why has the stock been stuck in the mud lately?

Why don't we find out by talking to the top brass?

So stay wet, creamer.

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Last week, we got a teensy tiny IPO that came in very hot.

It's called Swarmer SWMR,

which makes drone control software for the military.

Now, this thing came out nowhere.

We heard nothing about the Swarmer deal before it happened.

And the deal sold underwriter at Lucid Capital Markets

is an outfit I'd never heard of.

The Swarmer IPO priced at $5 last Monday night.

They don't Tuesday at the stock open for trading at $12.50.

That's about 150%.

It then proceeded to climb to $31 by the end of its first session.

That's a 520% from the offer price.

The next day, it rallied at $65.

We're pulling back and closing at $55.

Then people started selling because we'll make it tell the stock was over.

He didn't sell 4.5% on Thursday.

And then more than 30% on Friday,

before losing another 28% today.

And now it's back down to 26 and change.

That is down from where it closed on its first day.

But it's still up used from where it came public.

Now, at its offer price, Swarmer had a market

capitalization of less than 62 million.

That was making it too small to talk about on air.

But it currently levels the company's large enough for me to mention.

That said, I cannot include conscience indoors.

Swarmer up here.

After that white hot start for the stock last week,

we took a look at the prospectus this week

in checking the finances first.

And immediately so, the company had revenue of just

under $310,000 last year.

On the earnings front, they lost more than $8.5 million,

which is a much bigger hit than the year before.

Now, normally I'd tell you something like this is more of a business plan

than an actual business,

but clearly something about Swarmer resonating with the market.

So I got a paper.

And the truth is, this company's got a great story,

even if it's still in its infancy.

She swarmer was founded less than three years ago,

as part of Ukraine's war against Russia.

They needed a way to control large quantities of drones

at the same time to fight off the larger,

better, funder Russian military.

Swarmer came up with this autonomous drone software

to help make that happen.

And look, this has been used in combat for nearly two years now.

To date, it supported more than 100,000 real-world missions

flown by nearly 50 units in very tricky conditions.

At the end of last year, Swarmer brought in Eric Prince,

the founder of the old Blackwater USA,

the controversial private military contractor,

to serve as its non-executive chairman.

It's basically the public face of the business.

Now, it's very helpful if you want to sell their software

to the Pentagon because Prince is tight with President Trump.

But really, people got excited about this one

because of the timing.

The war in Ukraine has already proved

that drones are the future warfare.

Their drone program is the only reason

Ukraine's been able to fend off the Russians for over four years.

But if that wasn't enough for you,

the current war with Iran has really driven this point home.

The Iranians have gotten a ton of mileage out of using cheap drones

to soak up our expensive missile defense interceptors.

In terms of cost, Iran's lobbying hydrocords

at us were crashing Lamborghinis in them

to knock them out of the sky,

not really at all that cost-effective.

And that's why the Pentagon,

along with every other military in the world,

is now desperate to come up with low-cost drone

and counter-drone programs.

And that's where Swarmer comes in.

Their software is all about taking large numbers of cheap drones

and deploying them like a little army,

even in situations where the enemy is trying to block your electronics.

And that is why the Swarmer story caught on last week.

The company seems to be right at the center of the hottest theme

in the defense sector.

At the same time, Swarmer only offered three million shares this week,

which meant there was very little supply going around.

People didn't want to sell until they racked up huge gains.

It just did it only took a couple of days before they made enough money

to happily bring the register.

And again, even down here with this knockdown,

nearly 60% from its high-set last Wednesday,

I can't tell you to buy Swarmer's

and anything more than extremely speculative position

because the numbers just aren't there yet.

Again, Swarmer has barely had any revenue to date

and it's losing millions of dollars in a year.

Now, on its IPO perspective,

I always think you have to read them for these little guys.

The company does cite signed contracts

for new and existing customers,

managed to roughly $33 million over the next 12 to 24 months,

with about 60% of the revenue expected to be recognized this year.

But even if we run the numbers or not,

make a wildly optimistic assumption

that Swarmer has almost 20 million in revenues this year,

then the company still buy it at more than 16 times

sales, not only sales, which is very, very expensive.

Plus, it's worth noting that there are a ton of shares

that aside from employee stock plans

and other things that are not being included

in the company's official share cap,

but could result in significant delusion for shareholders.

And that's in the not-too-distant future.

And of course, given how well the stock's done to start,

the company would be crazy not to issue more shares

itself as soon as it'd be able to.

Finally, I just don't love how Swarmer seemed

to come out and know where.

There's no real institutional support of this one,

given that it used just one boutique capital markets

firm as its underrater.

I don't know. Does it seem right?

The stock stays elevated.

My pick up some coverage from larger firms,

but we can't assume that.

Here's the bottom line.

Swarmer hit the markets with a bang last week,

but after looking closely at the company,

I think this one needs more time in the outlet,

maybe much more.

It's still very, very early,

even if it's got a terrific elevator pitch.

My verdict, why don't we do this?

Let's keep it on Swarmer for now

and see if those signed contracts

result in some more meaningful revenue this year.

And let's, you know, the stock trades

when there's not the pinch of a very low float

like right now, because I expect there to be lots

of delusion coming in the next year or two.

For now, those Swarmer, let's call it a cool story,

but not much more than that.

I say we take calls.

Let's go to Mara and Florida, Mara.

Hi, I'm the customer.

Hi, how are you?

You still look good.

Love your book, too.

Hey, thank you.

Are you still high, unfortunate power solutions?

Oh, yes, very, very much so.

We just went over it.

I think that the intellectual distribution equipment

is so, I don't want to call it hot.

That would be wrong.

Because it's just so good, not hot,

because hot means that it's expensive.

I think fortune is a terrific company.

I like it very much.

Let's go to Phil and Kansas Phil.

Jimmy, chill.

Booyah.

Booyah, Phil.

How are you?

Yeah, thanks for taking my call.

I'm a club member.

I have your book and I love your show.

You're too terrific.

I think this is why I'm going to get my executive Bruce

from Regina Gilligan.

And sometimes when we get these calls,

we get so excited.

How can I help?

Well, I've got a position with micron.

And with the recent earnings report that just came out,

I was wanting to add another position.

Do you still think it has room to grow?

Okay, so micron is digesting that huge move.

That's what happens if you have just a giant

cantic increase in value to the company.

There's almost $500 billion.

I think you have to let it churn.

I would not attempt to buy some micron here

until it fell more than just $18.

Let's give it a rest.

I think it'll improve to be more meaningful position

as it goes down than it is right here.

And I think it can do that because it's had such a big run.

But look, this swarmer,

who had a story,

but you should wait to see if it's actual business.

And back up, it's, yes.

Sky high evaluation.

Get money and back after the break.

Coming up, how is the turnaround

going at all to beauty?

Cramer's on the ground and amongst the shelves

with the CEO.

Next.

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Market Update when beauty conglomerate, S.T.L.A.

were confirmed in discussions to go bond with Spanish

cosmetics company, Queen,

and announced with the course, S.T.L.A.

stock default 7.17%.

We thought it might be a good time to check in with

ultra beauty.

That's long our favorite cosmetic retailer.

About a week and a half ago,

ultra beauty reported a mix quarter with strong

same store sales but also higher than expected costs

that translate it into a legitimate earnings miss.

The next day at the stock tumble 14%,

and it's now down almost 28% from its February all-time highs.

A purchase is rarely that far from.

So could this be a great buying opportunity

or do we need to get more cautious with this one?

Earlier today, I checked in Lucicia Steeleman.

She's the turnaround artist, present, and CEO of ultra beauty

at one of her stores right here in New York City.

Take a look.

You should, it's been a great run since you started.

A January of 2025.

You're up 24% versus a fraction for the S&P.

What are the challenges and how are you beating the market?

Well, first off, I got to just say a gem.

Thank you for meeting with me here in the Chelsea location.

Thank you.

And you know, what I think it's all about is the team.

The team has been focused this last year.

We've had a great strategy with the

ultra beauty and leash plan.

We've worked the plan.

I've said time and time again, we've got a little bit of our swagger back

and we're really focused on driving top-line revenue.

I think you can't be a retailer unless you're really focused on growth

and sales.

I've never seen anyone win at the end by cutting themselves to success.

So we're really looking forward to what we can really deliver now in 2026

after having a great first year in 2025.

One thing you're delivering that I think is quite exciting.

You're going to where the customer is.

Talk me about TikTok.

Love TikTok.

In fact, we just announced on March 17th that we are live on TikTok.

The response has been just overwhelming.

The amount of collaborators that are wanting to come on

and be on our TikTok shop.

You know, this is where the younger consumer is.

You know, we think back to our time of live shopping with HSN and, you know, on TV.

This is the new way of shopping.

You've got to be where the guest is.

And this is where that younger consumer is wanting to shop.

All right, so for those who are not familiar with it,

you have 46 million people in your loyalty.

But they probably know what happens.

You go to TikTok, you can buy direct.

Are the margins good enough for you?

Yeah, well, the way that it works right now is we own the inventory.

We're sending the product to the guest.

So we really own that customer journey, which I think is really,

really important.

You mentioned our 46.7 million loyalty members.

We want to know how they're shopping and who they're shopping with

and what they're purchasing.

The way this really works is we're not going to be overly discounted.

It's going to be about bundles.

So your AOV, your average transaction is going to be a little bit higher,

but you're going to get a good value with it.

So, you know, we're early on, we're with exclusive only's,

but we're going to be launching it to the broader assortment.

But we're the first specialty beauty retailer that's on the site right now.

And we're just working those algorithms and we love what we're seeing thus far.

No, not abandoning the YouTube channel.

No, no, YouTube is very important.

YouTube, Instagram, you've got to be Snapchat.

You've got to be everywhere where the guest is.

The world has changed.

You know, I've been in retail for over 30 years.

And boy, you know, you've got to be really top of mind and relevant

with the consumer when they're making their purchase pattern decisions.

So you've got to be where they are.

And that's what we're focused on right now.

Let's talk about something you said that I could not agree with more.

That I think some of the shorter-term analysts miss.

If you have growth, profits will follow.

If you have profits, growth might not.

We want growth on Wall Street because that signifies

that you are going to have a multi-year run.

At what point do we not overlook SGNA or do you get SGNA down a little bit

so that the profits flow will have?

What's the roadmap?

Yeah, well, great question.

And I will say that I do think you have to run a responsible business.

You do want to drive your growth and your top-line revenues.

But at the same time, you've got to drive profit to the bottom line.

Last year was all about investments with the go-to-market strategy.

For the previous three years,

we were really focused on our foundational investments.

It was time to pivot because we had lost share in 2024.

I know.

We're back to gig and share all of 2025

in both brick and mortar and our digital channels and it's working.

So we did have to make those investments.

And what I shared on guidance for 2026 is

it's going to get back in line.

So our SGNA growth needs to not be any higher

than our top-line revenue growth.

And I'm committed to that.

The team's committed to that.

We will deliver.

I tell us about the racetrack here

because we know that things are a little pricey,

but I'm glad to tell you it's what a lot of people want.

And then there are areas like where my wife would go

with this elf because she's a bargain shopper.

What's the plan?

Yeah, you know what?

It's about how the consumers make up bag is put together.

If you go into any consumers make up bag,

you're not going to just see one brand

particular that's in their make up bag.

So the way that the consumer is shopping

is they want to try all different kinds of things.

So the way the store is set up that we're in today

is really make up is collectively together.

We're leading with prestige,

but it flows into mass to use and also into mass.

And I think that's one of the things

that makes Alta Beauty just so unique.

This store also has the expanded wellness area in the store.

So wellness and beauty is just really starting to collaborate

and come together.

And that's the way that the customer is thinking about it.

73% of the beauty consumer shopping today

thinks of beauty and wellness as self-care.

So we want to make sure that we're offering everything

in the way that she's got it in our make up bag

and on her countertop today.

Now this is more than just traditional skincare.

You're talking about something deep.

Yes, absolutely.

So in wellness we're thinking about

there's really four key pillars to wellness.

It's nutrition supplements.

It's intimate care for women specifically.

It's rest and renew.

So sleeping really, really important for all of us.

If you don't get a lot of sleep, it's hard to look good

at the same time.

And then the last one is really about accessible

accessible awareness.

So like think about red light therapy,

the mass that you wear, etc.

So you know, those are four key pillars

that we're leaning into.

We're really leaning into marketplace

and also into our stores to really broaden that assortment.

Now I saw something in the Lancome aisle.

G-O-P-1 cream, a recognition that perhaps those

who are too gone, maybe brinkles that can come

better than taking a Botox eye imagine.

Well, you know, one could ask the question on Botox or not.

But what I would say is that we are seeing that

being one of the trends.

And it's not just G-O-P for skin, it's also for here.

Hair loss with G-O-P-1 is a real issue.

So we're continuing to look for products

that we can bring to help our guests

as they're going through their weight loss journey.

And, you know, it's not just the G-O-P-1 users

that are really leaning into these categories, Jim.

It's also those that are aging gracefully.

I'm going to say that I'm one of them.

The 30 is the, or 50 is the new 30, you know,

60s, the new 40.

We want to look better as we're aging.

And a lot of these, you know, filler type

lotions are helping your skin retain that youthfulness, too.

All right. So, Keith, let's talk about the consumer.

You mentioned it on your conference call.

Look, the consumer is feeling it.

And you've been making G-O-P critical.

Do you see it in the basket?

How does it come out?

Yeah, well, it's a little too early to say.

What we were pleased with our February results,

I did share that on the earnings call.

Yes.

We aren't seeing any trade down yet.

You know, beauty and wellness,

especially if they're viewing it as self-care,

is a category that they'll always call it recession proof.

I call it more recession resistant.

That if they have to prioritize where

they're going to spend their dollars,

they're still going to spend it on themselves.

We started a little bit even through COVID,

that self-care, the regimens, they really stuck.

So, I do think that, you know, we're well positioned,

especially here at Alta Beauty,

because we're one of the only places that have, you know,

from the everyday starting price of mass,

all the way to luxury and everything in between.

So, you know, if you need to buy a $5 lip gloss

or a $300 fragrance, you can come here

and we can take care of your needs for you.

Listen, I think Space NK is very exciting.

I want to know how big you want to take it.

I mean, obviously, dominant brand in Britain,

but it's here, it's in bloomies.

I mean, can there be something going on that is higher price,

but the things here are the same price that you have.

There's nothing here that's different,

but it seems exciting to me,

but I kind of know what your plan.

Yeah, well, I was just in London last week

with the Space NK team,

so I just got back on Sunday.

And what I will say is,

one of these situations that one plus one,

I believe equals three.

There are predominantly prestige and luxury in their retail.

They're fantastic storytellers.

They're exceptional at clientelling.

They're a really data-driven company.

And while we have a big database,

how they're looking at their data insights and their consumer

is a little different than how we look at adult beauty.

So, I'm bringing some of that knowledge into

altibuty to make us even stronger at the same time.

For them, what they can learn from us is,

you know, just leveraging operations from DC operations,

store operations, et cetera.

So, I think that we're going to be able to continue

to learn from each other.

We're different, but we've got so much connectivity

from culture, et cetera, that I'm really looking forward

to seeing what we can do with the brand.

Well, look, I want to thank you for letting us come

into your beautiful store.

I know that everyone still will want to know

about this loyalty plan and how you intend.

Can you get it to 50 million?

I believe we can.

You know, we are, there's $100 billion in beauty retail sales

in the US, and we just grew by $1 billion this last year.

We've grown 5% our loyalty program.

We're in five more countries than we were

when I started as CEO.

I feel like we've got a great strategy, a great plan,

and we've got a fantastic team.

And what I would say is I believe the best is still yet to come.

Well, I believe that too.

And we've been, as you know, used to Porter

since it was under $100.

And I think that the record already

shows what you've accomplished.

And there's much more ahead.

I want to thank Keisha Steele when she's the president and CEO

of Ultra Beauty.

That's at new LTA.

And yes, we think it is a very good price.

Thank you.

Thank you, Jeff.

Coming up, Kramer's diving deeper

into one of the most important players

in the data center build out.

Don't miss his exclusive with Jacob Solutions.

Next.

You're saying the market's overfaith?

I know a lot of high quality stocks have come down for their highs.

In the last month and a half, Keke, one that we've worked for a long time,

Jacob Solutions.

He's the engineering construction firm that got some tremendous data center exposure.

They're putting an excellent quarter in early February.

I mean, beat raise, beat raise, beat raise.

But the stocks now down about 2% year-to-date makes no sense to me.

Let's take a close look at Bob Gotton.

He's the chair and CEO of Jacob Solutions.

He's the chair and CEO of Jacob Solutions.

He's the chair and CEO of Jacob Solutions.

You rang the bell today, Mr. Pogato.

Welcome back to my buddy.

It's always fantastic to be here.

Well, thank you for being on here.

Congratulations on ringing the closing bell.

That was epic.

It was great.

Terrific.

Now, I have to tell you, there are a lot of people who listen to what Jensen Wong says.

And so, digital twin construction.

So, that sounds good.

You live it.

You're a big star out there this week at GTC.

Can you explain to people why what Jensen wants to do and what you want to do?

It's going to save us money and keep waste down.

And you want to build stuff with you.

So, right now, what Jensen and Nvidia's whole vision is is to not just sell the chip,

but to sell the solution, the AI factory.

Part of that is that factories are changing at the same pace as the chips are changing.

You remember it at the keynote?

Sure.

We talked about going from game world to VR Ruben and then onward.

And so, everything is changing so quickly in the actual data center.

And all of the kits, whether it be the electrical kit, the communications, the networking,

the applications, everything's changing all at one time.

And so, what we did back during the game world days, which is still current,

is we created that the reference design and the digital twin so that we could do simulations.

What's happened now is that we've added agents inside of the digital twin

and with these changes that are happening to the chip with regards to the effects on power,

the effects on cooling, it's creating the reference design.

So, we flipped it.

Okay.

We'll explain it to people if you didn't have that.

We just get a lot of things wrong even if we were diligent, right?

Absolutely.

And so, this is now solving it in the virtual world, in the simulation world.

And allowing us to, even as he also demonstrated last week,

is that even within the rack, you're changing out even trays within the rack

as there's been innovation within the chip set.

So, it's exciting time and the tool is the ultimate integrator for the DSX omniverse.

Well, it's important to point out that you have more than your fair share

of these giant construction contracts for the data centers.

This has been a great business for you.

It has.

Jim, in the last year, our data center business has gone up 62.2%.

The pipeline is up 500%.

It's a real growth engine, but it's even beyond that.

Because we're across that entire livestock where you talked about the five layer stacks.

Sure.

We're in with the biggest high bandwidth memory manufacturer who's American.

Right.

As they expand delivering the chips.

Right.

We're working with the public utilities and the water agencies with the utility requirements

that are required for the data center.

Right.

And then we're in the data center.

So, it's, it's, it's, it's.

You've got it all.

Absolutely.

And let me ask you.

Because you work with the public utility companies.

Do you think that these, uh, that the data centers raise the electric rates for people?

It's certain areas, Jim.

It's, right?

It's certain areas.

But that may be more involved with the regulators than actually the companies they're building.

And in areas that have higher population density, you know, there's,

there's a strain on the grid.

Yes.

Talk about West Texas, Wyoming, you know, some of the Midwest states, uh, the strain does not.

But you built that too.

You built every aspect that they want you to, right?

We would, we would, we would be the, the engineer.

We were program manage and a lot of cases.

Uh, but we can, we can be across what we call across the entirety of the asset life cycle.

That was the acquisition that we were celebrating with the closing bill.

That's fantastic.

I thought that was a great move.

Now reshoring again, something that you know more about the most.

A lot of people say, wait a second, we haven't seen all these new jobs.

But are we early in reshoring?

We're very early.

And I'd say the reshoring effort has been more focused in on kind of the higher end tech manufacturing.

Okay.

So chips, life sciences has been the biggest piece.

Right.

What you see in the headline news with regards to the big life sciences players,

the big bio pharmaceutical players, that's, that's being realized in the field right now.

So does that continue on with industrial manufacturing?

I think we'll see, but in those areas that have had an install base in the US,

we're seeing a lot of activity.

So I mean, when we look at things, I, I have to believe that what we're building,

people worried about the economy now, Bob, but the jobs that you are creating,

I mean, you must be trying to hire everybody everywhere, right?

I mean, anybody who's got great skills.

We've got, so Jim, we have 50,000 people globally.

At any one time, we'll have seven to 10,000 open requisitions for people.

And so we live in a resource constraint world.

And so things like AI enablement, AI technologies,

they're doing nothing but helping us deliver to a demand.

Good point.

That's, that's there.

So that's where you talked a little bit about the stock.

That kind of that AI dislocation, we're actually, we feel AI enabled, AI augmented.

Oh, that's a good point.

And I do want to point out that life sciences is not those boutique, just boutique biotech.

You're the builder for the big guys.

The biggest right now that's out there.

And I know Lily wants to be here.

They all want to be here.

They know that the president wants them to make stuff here now.

In a, in a, in a big way.

And so all the announcements that, that, that the Indianapolis firm has made,

is those are happening all in real time.

Well, I got to tell you, I, I think you're well positioned.

I did before you came out, look at where the stock was.

And I said, frankly, Bob, that makes no sense to me.

I mean, you're having the year.

This is the year that we always want when you separated the two.

It's happening with this acquisition.

Look, I just think it's very good to start, Bob.

No, it's all I notice, call it, right?

I've known you for a long time.

I know what, there've been times when I thought it was his bedtime.

So I thought it was cheap.

This is when it is really cheap.

We agreed to.

Excellent.

Bob, we got us the chair and CEO of Jacob Solutions, letter J.

Look at this, because all the trends that we talk about in office,

this company, may have money's back everywhere.

Coming up, Kramer takes your calls.

And the sky's the limit.

It's a fast fire lightning round.

Next.

It is time.

It's time.

We talked about lightning round.

We went to the bathroom.

This talk said about the bicycle, so it's just 30 seconds.

So I quite said that.

My stepfair is a gravitational on the fly and we fill it out.

And then the lightning round is over.

Are you ready?

It's key.

Dad, tell the letter I'm coming in.

Somebody, Dennis, come on in.

Dennis.

Dr. Kramer.

Yes, sir.

You're not mining, house of grain, what say ye?

OK, gold is down 16% since the war begin.

That's very contrary.

I would actually be a buyer, but it's going to be a bagged

nickel eagle.

I like these prices right here right now.

Let's cut a bread in part of bread.

Jim, how are you, man?

Jim, I'm talking about sound home.

Callin' about sound home today.

It's been getting annihilated.

It was just today, but it's a good deal.

Well, look at it to tell you, the stock only got to where it was.

Because Nvidia, for a moment, had a cup of coffee with that stock.

And I've got to tell you, I have always

felt that it's just a continual money loser.

And we don't recommend continual money losers.

Oh, and Jim Kramer's mad money.

Let's go to Sam and Puerto Rico, Sam.

Hey, Mr. Kramer, first time caller here.

All right, our don't want their product.

And operating at profit margins have improved substantially.

Your thoughts about FRPT, fresh pack?

Yeah, you know what, people didn't like the margins this time.

It's been a big winner.

You know what, let's just leave it alone for a while.

I think that this stock has been too hot versus the cohort.

Let's get it, let's go to Andrew and Cowboy Andrew.

How's it going, Jim?

I am doing well, Andrew, how about you?

I was doing just fine.

Hey, I wanted to talk to you about IEP with 80% ownership of CBI.

And that stock's going up.

Do you think it could be bullish?

No, I don't want to touch that one.

The bears have been so right on that one the whole way.

I think they're going to continue to be right.

It's one of the great bear calls I have seen in my life.

Let's go to Tony and Cowboy and Tony.

Hey, Jim Boas, thanks for taking my call.

Absolutely, Tony.

What's up?

Hey, I got a good one for you.

This is a Viabi solutions.

They make a test equipment for the fiber optic.

No, I got to tell you you're right.

You're right.

I mean, I know it's expensive, but I'll tell you,

that is the hot area.

And I'm not going to disagree with it.

Let the stock cool little I would

because the stock is up and come bucks in it.

But yeah, I think you're on to something with that stock.

Let's go to Joe in New York, Joe.

Hey, Jim, big call open.

Stunt my own the rock.

Hey, look at that.

I love your book.

Love your book, Jim.

Already making money.

A number of pieces of advice you gave.

So thank you so much for that.

I appreciate it.

Thank you.

Oh my god, it's the best.

So Jim, last year I told Geep into the world pool,

the price was discounted and it was nothing.

I got to tell you, Joe, this one is just mystifies me.

Down 25% the presence on everything

can to try to make it so that they're lose by imports.

I don't know what to say on the fact

that I wish I could recommend it.

But I just feel like at every single point it goes down.

I cannot be a part of a stock that at every single point

goes down.

So I'm going to have to take a pass.

That's people.

And that legend of the legend of the lightning round.

The lightning round is sponsored by Charles Schwab.

Coming up, amid a tough tape, retail names

have been a surprising bright spot.

Claimers surveying the space.

Next.

Tomorrow, kick off the trading day with Swach on the street.

Live from post-9 at the NYSE.

And I know we should talk about maybe at some point you and I,

just who's really been funding this expansion?

Well, it's been a lot of different things,

but private credit survived in part of it.

Private credit.

He's Mr. Private Credit now.

It all starts at 9 a.m. Eastern.

Jim Claimers, it's die part of the dollar.

Hey, Jimmy, let the show.

My five-year-old grandson loves to watch his show.

I have to thank you for making us money when it's there to be made.

Our world is a better place with you in it.

It all starts with retail.

That's all everything works in this country.

We see this trend symbolizes the consumer at the register.

And we make judgments because our country's economy is based on service, not manufacturing.

And all I can say is, so far so good.

No recession yet in sight.

At least not here.

We may be traumatized by the events in the Middle East,

but so far they haven't impacted consumer spending.

The consumer apparently remains confident,

paying up, defying the toxic political environment in the country.

I keep thinking she'll hit a wall as the price of gasoline goes higher,

but maybe not.

Given that cars are a lot more fuel efficient than they were,

the last time we had an oil shock,

and gasoline seems cheap.

It hasn't been hit by the inflation stick,

like some of the other commodities.

Consider today's trip to ultra-beauty.

Case to steelman, 35-year-old veteran retail,

told us a tale of non-promotion

of a consumer that's spending up front with the more expensive goods

or animals on the sides and in the back where you can find bargains.

I was surprised that high-price point merchandise up front was moving well.

Steelburn is not alone in seeing strength,

but discounters are cleaning up.

Here, TGAX has put up some extraordinary numbers

at all their brands from TGAX, TGA Max to Marshall's Homeboots.

These guys are making a killing by scooping up excess inventory

from trouble retailers that desperately need cash.

I've been blown away by raw stores.

That last quarter showed more strength than I've seen

from that company in ages.

Five below the Uber discretionary play

has triumphed over all the other inexpensive shops.

I highlighted it last week.

I think it stayed strong.

Target has been a standout.

I was concerned that it might give up the ghosts

since the war with the Rand started,

but the stocks really hung in there.

It's up nearly 18% for the year,

a nice beginning from New CEO, Michael Fidelky.

There are bargains to be had over retail.

And they just don't look like it.

Walmart, okay?

It stocks up 8% year-to-date,

Costco up 12% year-to-date,

both have high price journeys,

multiples, I get that.

But they do well if you think that we're headed toward a slowdown

because of oil prices,

they only miss the home-related stores

and their dollar imperiums.

The housing-related retail stocks

are simply unable to move up

because they're tied to home sales

and the housing market's frozen.

Until interest rates come down,

I don't expect anything to bail out

the stocks of Home Depot, R-H,

or Best Buy, for that matter.

That said, if the war really winds down

that cheap from waiting, Kevin Warsh,

genuinely tries to cut interest rates.

It can be winners.

That's why we hold one to Home Depot for the child trust.

The dollar stores, dollar general dollar tree,

they seem off the game right now.

I wouldn't bet against them though.

They always seem to pull them.

Pull out of a hat.

The one area that does mystify me is travel.

The airlines are so strong,

but the TSA debacle makes me wonder

how anyone could feel like they should go to the airport.

Airbnb and Marriott are strong,

but booking holdings has been weak.

That's highly unusual.

Cruise lines are strong now.

Next year, we're hearing of cancel trips,

but you have to expect that now

that the war's messing with ocean travel,

the shipping, taking ships and putting them

in other places will get some more insight

on this group and carnivore ports Friday morning.

By the way, the poop had a huge move today.

Well, let's back up for a second.

Every day, we hear that the consumers

are continuing, you hear it, I hear it.

We hear that health care costs are going up.

That energy's up 32% that car loans are stressed,

but the retailers show it's not true.

Maybe it's bigger tax refunds,

maybe it's low unemployment, either way.

It's contrary to what you can expect

and what I think the media is reporting.

And if President Trump can really deliver an end of the war,

you can rest assured this group is to buy.

I just don't know if the Revolutionary Garble cooperate.

From what they're saying, it seems a little unlikely.

I'd say there's always a bull market summer.

Trump's not going to find it just for you

or you don't have money.

I'm Drew Palmer, see you tomorrow.

All opinions expressed by Jim Kramer

on this podcast are solely Kramer's opinions

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but only as an expression of his opinion.

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