On Monday’s episode of Mad Money, host Jim Cramer warned viewers about how unchecked enthusiasm in the market can quickly become a serious danger.
“Remember, we have two markets going here, the normal one and the super speculative one that’s made up of various cryptocurrencies and the stocks that back them… But of all the speculation we’re seeing here, nothing repulses me more than the red-hot IPO market because when IPOs get too hot, they can lead to a bull market slaughterhouse.”
READ ALSO: Jim Cramer Commented on Magnificent Seven Stocks and Jim Cramer Spoke About These 18 Stocks.
Cramer pushed back on the idea that soaring prices should be embraced just because people are making money in the short term. He reminded viewers of the painful lessons from the past, asking:
“Don’t we wish the dot-com bubble hadn’t happened? Don’t we wish the 2022 meltdown hadn’t happened? It was stuff like this that drove it. The syndicate desks were clueless to what was really happening.”
Cramer acknowledged that these desks cannot completely control speculation, but argued they should be able to recognize when first-day price spikes signal that market dynamics have changed. He went on to say that syndicate desks should not encourage gamblers or act helpless in the face of irrational demand. He warned that that kind of passivity is not what long-term investors need. He noted that the goal should be investing for actual returns, not chasing hype.
“The Circles, the Figmas, the crypto stocks, they’re all what’s wrong with the market, not what’s right. The syndicate desks, who do the pricing, need to know that once there’s more wrong than right, this bull will turn into a bear, and their earnings at their companies will go up in smoke.”
Our Methodology
For this article, we compiled a list of 14 stocks that were discussed by Jim Cramer during the episodes of Mad Money aired on August 4. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the first quarter of 2025, which was taken from Insider Monkey’s database of 1,000 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
14 Stocks on Jim Cramer’s Radar
14. Circle Internet Group (NYSE:CRCL)
Number of Hedge Fund Holders: N/A
Circle Internet Group (NYSE:CRCL) is one of the stocks on Jim Cramer’s radar. Cramer discussed the company’s price movement after its IPO during the episode, as he said:
“Next up, the larger deal was Circle Internet Group. The IPO market was starting to heat up… by the time Circle came public in early June. But even though Circle upsized its deal significantly and raised its offer price range and then still priced well above the high end of the range, it wasn’t ambitious enough. Deal priced at 31, but the stock opened for trading at 69. Within three weeks, it was nearly at 300. It’s since cooled off around, they’ve come down to 165, but that’s still probably way too high. I think winners from CoreWeave rolled their take into Circle and turned it into a meme stock.”
Circle Internet (NYSE:CRCL) operates a platform for stablecoin and blockchain applications, as it provides U.S. dollar-denominated stablecoins and related financial infrastructure.
13. CoreWeave, Inc. (NASDAQ:CRWV)
Number of Hedge Fund Holders: 36
CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks on Jim Cramer’s radar. Cramer said that he is a “huge fan” of the business but finds the stock “pretty expensive.” He stated:
“Right now, IPOs have become the new meme stocks, and the investment banks doing the offerings don’t seem to know it. The meme trend began with CoreWeave, which came public at 40, incredibly small float or amount that was offered for trading. The underwriters’ anxious for the deal to work. Prices on the whole are way lower than they thought they, they would have to do, and then they downsized the offering, selling just 37.5 million shares, raising just 1.5 billion. They originally hoped for something that’s a billion dollars more than that. Now, CoreWeave is worth over 50 billion. The stock was initially driven up by memesters, who knew there was no new supply, so they just kept buying and buying and buying. How do I know this? Because it’s a pattern that I’ve seen since 1998. I recognize it. CoreWeave, a data center company, was simply very easy to take up because there wasn’t much supply, especially after the deal was downsized. I’m a huge fan of the business, but the stock’s pretty expensive.”
CoreWeave (NASDAQ:CRWV) provides a cloud platform optimized for generative AI that provides GPU and CPU compute, storage, networking, and managed services. The company supports workloads like model training, AI inference, and rendering, and includes tools for infrastructure management and dataset optimization.
