This is one of the most emotional markets Jim Cramer has ever seen, he told his Mad Money viewers Thursday. Every day, it's another wave of bizarre mood swings where investors love a stock and send it into the stratosphere or hate it and pummel it into the ground. "We all gotta calm down," Cramer said, as he urged viewers to not let emotions cloud their judgement.
The reality is that some companies are doing well, while others are doing horribly. There are more horrible ones than there used to be, but overall, things are still going OK for most of our economy. Cramer told viewers to use any strength to take profits and raise cash, so they can take advantage of days like Thursday when the whole market panics.
Much of today's declines stemmed from one company, one formerly known as Facebook -- Meta Platforms (FB). It's no secret that Facebook's targeted ads are a lot less targeted now that Apple (AAPL) has taken a tough stance on user privacy. Apple's changes didn't appear to affect companies like Alphabet (GOOGL), but they found their intended target of Facebook.
Despite these problems, Cramer said he's sticking with Facebook because the company has a war chest of cash, and has dealt with problems like these before. If you want local advertising, Facebook is still the platform of choice.
That doesn't mean you should run out and buy Facebook, or Meta Platforms, however, as the institutional selling in the stock is so extensive it can't be completed in a single day. Investors must be patient and wait for the stock to find a bottom.
Executive Decision: e.l.f. Beauty
In his first "Executive Decision" segment, Cramer spoke with Tarang Amin, chairman and CEO of e.l.f. Beauty (ELF), which just posted a nine-cents-a-share earnings beat that included raised guidance. Shares of e.l.f. are down 14% over the past month.
Amin said e.l.f. continues to make the best of beauty accessible for everyone, with premium products that offer exceptional value for customers. It has an engaged community that are champions for their brand.
Nowhere is this more evident than on social media, where e.l.f. has been hugely successful on platforms like TikTok, where the company has been able to engage with Millennials and Gen Z.
When asked about the pandemic, Amin noted that everyone is ready to go out and express themselves again and they're very bullish on the spring and summer seasons and will have great new products.
Executive Decision: Qualcomm
For his second "Executive Decision" segment, Cramer spoke with Chistiano Amon, president and CEO of Qualcomm (QCOM), the semiconductor maker that just delivered a 22-cent-a-share earnings beat on a 30% rise in revenues. Shares of Qualcomm fell 4.8% along with the broader markets.
Amon said Qualcomm is about a lot more than just 5G and mobile handsets these days. His company has a diversified portfolio of products, including automative, where partners like General Motors (GM) are helping to bring assisted and autonomous driving features into reality.
When asked where the auto industry is headed, Amon explained that assisted driving features will likely come to every vehicle in the future to make them safer and more enjoyable to drive. Fully autonomous vehicles will arrive in time, but it may take longer than more people expect to get there.
Amon was also bullish on Qulacomm's growing IoT business, which now includes everything from robotics to smart power meters to retail tracking systems. Qualcomm has powerful ecosystems for both hardware and software in all of these areas, he said.
Executive Decision: Align Technology
For his final "Executive Decision" segment, Cramer checked in Joe Hogan, president and CEO of Align Technology ALGN, which just reported quarterly results that included a 10-cents-a-share earnings beat. Shares of Align are up 435% over the past five years.
Hogan said we're in the aesthetic generation, and we have the technology to have a perfect smile so for most people, there's no reason to have crooked teeth anymore.
Hogan continued by dispelling the rumors that the pandemic has negatively affected Align's growth and gross margins. He said the company's annual growth rate remains around 30% and the average selling price was actually up last quarter.
Hogan also commented on the notion that only teens use Align's products. He said while teens account for 30% of their sales, the other 70% of Align's business are adults who want a better smile.
Lightning Round
In the Lightning Round, Cramer was bullish on Rattler Midstream LP (RTLR) and Nextdoor Holdings (KIND); and bearish on Rocket Companies (RKT).
Covid Conundrum
In his "No Huddle Offense" segment, Cramer pondered what the end of the pandemic will actually look like. There's still a lot of uncertainty out there. Cases are roaring, but at the same time, many who are vaccinated and boosted are trying to get back to normal.
This uncertainty extends to the stock market as well. No one expected Estee Lauder (EL) to deliver its best quarter ever, but that's exactly what it did. No one expects Boeing's (BA) business to improve, but eventually, it has two given that there are only two companies on earth that manufacture big planes.
And then there's PayPal (PYPL), a stock that everyone thought was doing fine, only it wasn't. Demand just wasn't there for PayPal like it was for Estee Lauder and will be soon for Boeing.
Instead of worrying about the supply chains, keep your eye on demand, Cramer concluded.
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