During a recent Mad Money episode, Jim Cramer discussed how President Donald Trump’s influence shapes the market’s behavior:
“When you see a grizzly bear in Yellowstone National Park, you call a park ranger because these bears are dangerous… but the grizzlies turn into teddy bears when the rangers come, and you can’t even remember what you were so afraid of…. We can only presume that the president can turn the grizzlies on Wall Street into teddy bears with a stroke of a pen or even just a post on the social media platform he owns. I’ve never ever seen the market bend so readily to the wishes of one man. It’s extraordinary.”
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Cramer also addressed the tensions between President Trump and Federal Reserve Chairman Jerome Powell. He highlighted how Powell was painted a “major loser” whose removal seemed inevitable in Trump’s eyes. Cramer noted that the President clarified he had no intention of firing Powell, which eased Wall Street’s concerns. When the name-calling between Trump and Powell stopped, Cramer observed that the stock market surged higher as investors were relieved that the possibility of a constitutional crisis was no longer a threat.
“Now, I want to say something here. I think it is actually, it’s beyond belief how easy it is for this one man to tame a bear, even if it’s a bear that he released on us in the first place.”
Cramer also pointed out that the President’s suggestion of a potential deal with China, while vague, was seen as an improvement and contributed to the market’s upward movement. He noted that for those hoping for higher stock prices, Trump’s actions seemed to have worked.
“Bottom line: That’s how powerful Trump has become on Wall Street. On days like today, it’s helpful, but for most of the year, it’s going the other way. Of course, you never know who he’ll target next. We don’t want any of the big CEOs to be trashed. That could hurt. The market doesn’t care if he goes after law firms or colleges, but going after the Central Bank, different story. Right now, Trump owns Wall Street and only he can decide if that’s going to be a good thing or a bad thing. I think it’s time to go all in on good.”
Methodology
For this article, we compiled a list of 9 stocks that were discussed by Jim Cramer during the episode of Mad Money on April 23, 2024. We then calculated their performance from April 23rd, 2024, market close to April 25th, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey’s Q4 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them.
Please note that this article mentions Jim Cramer’s previous opinions and may not account for any changes to his opinions regarding the stocks that are mentioned. It is primarily an examination of how his previously provided opinions have panned out.
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).
9. Amazon.com Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 339
Amazon.com Inc. (NASDAQ:AMZN), the global e-commerce and cloud services leader, was brought up by a caller during that older episode. When asked if Amazon still had upside back then, Cramer didn’t hesitate to respond positively, saying:
“Yeah absolutely, why not? I mean Amazon is the great equalizer. I think it’s got the Amazon Web Services going to be incredibly strong and by the way just you know Amazon advertising is on fire.”
Amazon shares have risen by 7.31% since then, although they are down significantly from its all-time high.
Amazon.com, Inc. (NASDAQ:AMZN) recently came up during a show in the context of companies with scale and pricing power. Jim Cramer discussed how Amazon may be willing to let its private label products go out of stock rather than absorb costs. Here’s what he said on the 8th of April:
“Now, in Amazon’s case, I think they can say, hey guys, why don’t you just send the empty ships to U.S.? And they’re saying, listen, we’ve got other countries that want our stuff, but do they? Do they have other countries? We take everything from China. That’s over. Will the Europeans buy their stuff? […] I think we’re going to hear the Amazons and the Walmarts saying, you know what, we’d rather be out of stock. We’ll be out of stock on Amazon Basics. We don’t care.”
8. SAP SE (NYSE:SAP)
Number of Hedge Fund Holders: 27
SAP SE (NYSE:SAP), the German software powerhouse known for its enterprise solutions, was highlighted after a strong earnings reaction in U.S.-listed shares. Cramer praised the company’s cloud growth and aggressive push into artificial intelligence during a segment that also featured an interview with the CEO. At the time, he viewed SAP as an underappreciated AI winner in the enterprise space. Here’s what he said:
“SAP reported a seemingly okay quarter but in the U.S. listed shares shot up 5%. Why? Because SAP’s cloud numbers were excellent. I think this company has a great story to tell about how they’ll be a big winner from artificial intelligence because they’ve infused AI into their whole product suite. […]
[Talking directly to the CEO] You are working for your clients and you are saving your clients money, and you’re making them better, and you’re using artificial intelligence, and that’s how I’m going to position SAP because I think it’s the right way; that’s how a stock goes up real good.”
Cramer’s bullish call aged well, with the company’s shares up 45.45% since then.
Cramer’s most recent comments about SAP SE (NYSE:SAP) came in the context of how the Department of Government Efficiency would affect SaaS companies. Here’s what he said last month:
“[On how DOGE is impacting companies that provide government with services] Right, that’s the ServiceNow issue, that’s the ServiceNow issue, they have the most of the government. SAP issue. Oracle on Friday, absolutely.”
7. Nucor Corporation (NYSE:NUE)
Number of Hedge Fund holders: 51
Nucor Corporation (NYSE:NUE), the largest steel producer in the U.S., was a key focus in that episode following disappointing quarterly results. Despite the miss, Cramer reiterated his long-term support for the company, citing its buybacks, infrastructure tailwinds, and historical outperformance. Here’s what he said back then during a discussion with the company’s CEO:
“Now I’ve been a fan of this stock forever; actually since before the show began and I also see it as a winner from all the federal infrastructure spending and the company’s been a voracious buyer of its own stock, something that’s helped them put up tremendous earnings per share numbers over the past year. […]
[Talking directly to the CEO] When I read through what went on I really don’t see a lot of weakness, and yet, you decided to say that next quarter is going to be weak too. If you hadn’t I would have said that it’s ridiculous that the stock’s down. […]
I spent all day racking my brain and reach the same conclusion ahead of this interview which is that some you don’t get a chance to buy Nucor unless there’s a little bit of a discrepancy and otherwise it’s just going to be straight up; it has been since 1980s in the mid 80s, so I am with you.”
Despite his optimism at the time, Nucor shares have declined by 34.25% over the past year.
Nevertheless, Jim Cramer remains a fan of Nucor Corporation (NYSE:NUE) and has recently cited the company as a model of an American manufacturer. Here’s what he said on April 15:
“Nucor, every time they open a plant, is responsible for about eight new jobs besides the plant. That’s what’s so great about a steel plant. Just put so many, and Nucor, by the way, only puts plans where they actually are like desperate for more employees. The president should call Nucor and bring them in to say [interrupted] You get Nucor in a room, and you just have like a bonanza of positivity. It’s time for some positivity out of the White House.”
6. Mattel Inc. (NASDAQ:MAT)
Number of Hedge Fund Holders: 25
Mattel Inc. (NASDAQ:MAT), a legacy toy company with global brands like Barbie and Hot Wheels, was discussed following its earnings report. Cramer focused on margin improvements and upcoming entertainment initiatives, though he struck a measured tone. He indicated interest in the stock under certain price conditions, showing cautious optimism back then. Here’s what he said:
“What’s it going to take for Mattel to break out of its trading range in the high 10s to low 20s it’s been stuck there for over 3 years now a blockbuster Barbie movie couldn’t do it, although certainly management explains that overall sales continued their post-pandemic downturn while the toy maker had to deal with cost pressures. But maybe tonight things changed. Tonight Mattel reported what I call mixed quarter. Real question knows whether Mattel can return to growth mode. […]
[Talking to the CEO] One of the things that is absolutely certain is that this was a quarter where you had significant gross margin expansion, you’re making a ton of money. Now can you make even more money? I want to put this right but if the sales don’t have the growth but maybe we shouldn’t care for now? I mean I don’t know what to do; you’re buying back all the shares you’re making a lot of money, but people love growth so what do we do? […]
What can I say I got to see it with my own eyes. That would be the trigger for me to think under 20 you got to buy it.”
Mattel shares have been beaten down over the past 12 months, dropping 17.78%.
But Cramer still sees hope for the stock. Here are his comments on Mattel Inc. (NASDAQ:MAT) from February this year:
“When you go on to Costco, and you go on to Amazon, you find that there’s a lot of products that are being commoditized. But you can’t commoditize Barbie, David. Not a chance. I want you to know that. And they have a lot of movies coming it . . .they’re buying back stock furiously.”
5. Cheniere Energy Inc. (NYSE:LNG)
Number of Hedge Fund Holders: 70
Cheniere Energy Inc. (NYSE:LNG), a major U.S. exporter of liquefied natural gas, was also discussed during the lightning round. Cramer gave it a firm thumbs-up, referencing favorable political dynamics that benefitted established LNG exporters, saying:
“I’ll give you my blessing. I think LNG is terrific. I do believe that because the president has decided to – let’s just say put things on hold for others – this guy’s a winner so let’s buy it.”
Cramer’s bullish prediction was accurate, with the stock climbing 48.43% over the past year.
Cramer remains a big fan of Cheniere Energy Inc. (NYSE:LNG). Here’s what he said about the stock in January this year:
“Cheniere’s been an unbelievable story. I remember when Cheniere was at two bucks. I mean cause what happened is this that we ended up having reverse all the pipes when Cheniere started natural gas we were importing. Then it turned to an export. Look they’re not making, they have revenue, revenue downstream.
“Well if you wanna play on what the President is saying about how we can weaponize it, weaponize the natural gas, this is it.”
4. Enterprise Products Partners L.P. (NYSE:EPD)
Number of Hedge Fund Holders: 29
Enterprise Products Partners L.P. (NYSE:EPD), one of the largest midstream energy companies in the U.S., was brought up by a viewer looking for income. Cramer strongly endorsed it for its operational reliability and pipeline network, calling it a top-tier MLP. He clearly liked the name as a stable, yield-generating asset at the time, having said:
“I will tell you it’s got the best network of fractionators in the country. It’s also the best run of the MLPs so I can’t say enough positive things.”
Another accurate prediction by Cramer, as Enterprise Products Partners’ stock has risen by 8.19% over the past year.
Following a recent sell-off, Jim Cramer thought this was an opportunity for his listeners to get into Enterprise Products Partners L.P. (NYSE:EPD). Here’s what he replied to a caller on April 10:
“Okay, now, people are selling this thing because they have a lot of ethane business. They have a lot of certain natural gas liquids that are really stalled right here. I say don’t worry about it. This is actually a fantastic chance to buy.”
3. Casey’s General Stores Inc. (NASDAQ:CASY)
Number of Hedge Fund Holders: 38
Casey’s General Stores Inc. (NASDAQ:CASY), a regional convenience store chain with a cult following for its food, came up as a surprise pick. Cramer was enthusiastic about its steady growth and joked about the quality of its pizza, reinforcing his view that the stock was a hidden winner. He was clearly high on the name in that older segment when he said:
“Oh man, hidden gem! Love the pizza there. That is a winner and it should be bought. It’s not that expensive given its growth prospects, I wish they split the stock.”
Casey’s General Stores Inc. (NASDAQ:CASY)’s stock has increased by 42.43% over the past year, strongly affirming Cramer’s bullish thesis.
He has praised the stock occasionally on the show since. Here are his comments from late 2024:
“Casey’s General is terrific. I’ve liked it. We’ve done a number of takeouts on it, and it’s really done a terrific job.”
2. Recursion Pharmaceuticals Inc. (NASDAQ:RXRX)
Number of Hedge Fund Holders: 21
Recursion Pharmaceuticals Inc. (NASDAQ:RXRX), a clinical-stage biotech integrating AI into drug discovery, was mentioned by a caller seeking Cramer’s take. Cramer clearly considered it a cutting-edge name with long-term potential at the time. Here’s what he replied with:
“I’ve been waiting for someone to bring this stock up. Why? Because when I was at Nvidia for the great GTC conference, they talked about this company endlessly. I think you have a real winner. The stock went up after around the conference and has come right back down. Recursion is for me. [hits buy button]”
Unfortunately, the stock has since dropped by 26.91%, making his call a clear miss.
Nonetheless, Cramer still likes Recursion Pharmaceuticals Inc. (NASDAQ:RXRX), having talked about a potential upcoming catalyst for the stock. Here’s his analysis from April 11:
“Alright, we got some news from the FDA that’s impacting the stock. I don’t normally do small caps, but there’s an FDA announcement, plan to phase out animal testing requirements for monoclonal antibodies. By the way, Regeneron, biggest in that. But what they’re gonna do is you gotta do it AI. And the AI company that has it, I’ve had them on, is Recursion Pharmaceuticals, RxRx, backed by Jensen Huang and NVIDIA. And they’re going to be the winner in how we decide much faster to have drugs approved in this country. It’s the first real deregulation I’ve seen. Congratulations to the people who are trying to deregulate.”
1. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 161
Broadcom Inc. (NASDAQ:AVGO), a key player in semiconductors and software, came up during the lightning round. Cramer was baffled by the stock’s recent decline and here’s what he replied to the caller’s praise for the stock:
“Oh my God, Broadcom, it’s ridiculous that it’s going down! I mean jeez, this company is on fire!”
Jim Cramer was rightfully bullish back then, as the company has climbed by 48.57% since that episode.
Addressing the stock’s recent pullback, here’s what Cramer said about Broadcom Inc. (NASDAQ:AVGO) on the 14th of April:
“But look at Broadcom. Broadcom was up four in early morning trading. Now it’s barely up. That’s the short to say, you know what, we’ve let it come up. Now let’s just blast them down. What you need is some recognition from someone else besides the White House that these companies, that the orders are good. And we’re not going to really hear that because the orders may just be good because of pull forward. […]
I thought that Broadcom was going to be maybe the biggest winner today. They were going to just be, you know, Hock Tan and stock’s down a buck 70.”
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