Jim Cramer, host of Mad Money, on Friday said that many companies are performing far too well to justify the level of negativity that is visible in headlines and investor sentiment.
“The fourth year of the bull market begins just as the third ends with skepticism, with disbelief and contempt for the bulls. Of course, that’s been the hallmark of the entire run, hasn’t it? The conventional wisdom says that the true believers are either frauds or mountebanks or morons, people who embarrass themselves every time they do some buying into the dips. Never mind that buying the dips has made investors a lot of money over this run and so many others in the last 45 years.”
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Cramer went further to say that contempt in the market does not only come from the bears, it cuts both ways. He mentioned that the true underperformers are not those who bought into the market, but the skeptics who repeatedly miss major upward moves. He pointed to the market action on Friday morning where, around 6:00 AM, it seemed that the market would open about 1% lower, largely due to fears over bad loans at banks. However, the market opened, and a series of banks reported that they were doing fine.
“Why do the bears keep being betrayed by the market? I think it’s because the pessimists and their buddies in the media tend to lose track of what they’re investing in, not the S&P 500, the index itself, but the companies in it.”
Our Methodology
For this article, we compiled a list of 10 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on October 17. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the second quarter of 2025, which was taken from Insider Monkey’s database of over 900 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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Jim Cramer Recently Covered These 10 Stocks
10. NIKE, Inc. (NYSE:NKE)
Number of Hedge Fund Holders: 81
NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently covered. Cramer highlighted the reasons why he would be a “buyer” of the stock. He said:
“Same deal with Nike. The previous CEO took a good company and turned it into an also-ran… Now that Nike old hand, Elliott Hill has come in, he needs to reinvent the entire business. First, he needs to go back to the old brick-and-mortar distribution network… It means new science and innovation have to be developed, which seems to have been obliterated under the previous regime. Third, he has to fix China, not a quick fix. Oh, and let me just tell you, there’s still inventory within the system, and that holds down earnings. But most importantly, he’s got management and the rank and file rowing in the same direction because he was much loved before he left… This is another stock though that’s been pulling back as analysts realize that the fast turnaround is impossible. Again, they don’t seem to understand that turnarounds do take a lot of time. This is precisely the moment when people want to give up on Starbucks and on Nike, which is why I want to be a buyer, not a seller of both.”
NIKE, Inc. (NYSE:NKE) is an athletic and casual footwear, apparel, equipment, and accessories company that sells its products under brands, including Nike, Jordan, and Converse.
9. Starbucks Corporation (NASDAQ:SBUX)
Number of Hedge Fund Holders: 66
Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer recently covered. Cramer discussed the company’s ongoing turnaround under CEO Brian Niccol, as he commented:
“Brian never encouraged me to be as bullish as the analysts were. He emphasized endlessly that the turn would take time… What Brian ultimately found was that the whole Starbucks story was based on having fewer people working and a reliance on technology to do the job done… It was a slippery slope that led to a crash. Some analysts now blame the stock’s latest downturn on the slowness of the turn itself. I blame the decline on the lack of recognition from the analyst community, that Brian wasn’t playing UPOD. He wasn’t underpromising in order to over-deliver…
Now at last, I think Brian has his arms around what’s been going wrong. He knows that staffing, not technology’s the answer. He recognizes that not all the stores can be kept open because their layout doesn’t allow for a third-place transformation. I see the analysts turning against him though, largely because they got ahead of themselves, and that tells me it is time to buy Starbucks, not to sell it.”
Starbucks Corporation (NASDAQ:SBUX) sells coffee, tea, and ready-to-drink beverages along with food items through company-operated and licensed stores.
8. IREN Limited (NASDAQ:IREN)
Number of Hedge Fund Holders: 39
IREN Limited (NASDAQ:IREN) is one of the stocks Jim Cramer recently covered. Answering a caller’s query about the stock during the lightning round, Cramer said:
“Oh no, no, IREN, let me tell you something, you are going to sell IREN. I’m going to throw another one in. I’m going to give you a twofer in the sell side, Nebius. I am looking for insider selling to descend upon this group, and I will not be wrong. I will not be denied. I sense that I’m trying to get people out ahead and IONQ has already demonstrated my perspicacity. Take that.”
IREN Limited (NASDAQ:IREN) operates data centers and electrical infrastructure, manages computing hardware, and engages in Bitcoin mining. During the September 24 episode, Cramer called the stock “too hot.” He remarked:
“There are other companies like IREN, which makes power centers for bitcoin mining and is looking to pivot to AI data centers. Hey, listen, CoreWeave took that strategy. IREN is actually profitable, but its stock has rallied 380%. Too hot.”
7. Carnival Corporation & plc (NYSE:CCL)
Number of Hedge Fund Holders: 69
Carnival Corporation & plc (NYSE:CCL) is one of the stocks Jim Cramer recently covered. During the lightning round, a caller asked Cramer’s thoughts on the stock, and he replied, “I’m a buyer of Carnival. Let me throw in that I like Royal too.”
Carnival Corporation & plc (NYSE:CCL) runs cruise lines and offers vacation trips. The company also manages ports, hotels, lodges, and tours that support its cruise business. When a caller asked for Cramer’s advice on the stock during the August 12 episode, Cramer responded:
“No, no, no, no, no. You just, you can’t wait. You can’t wait with these stocks. They’re momentum stocks. But I agree with you, they’re bargain stocks too. Royal Caribbean, people were like saying, well, listen, I’m going to wait a little more for Royal Caribbean to go down. And did you see that stock today? I mean, the people today were saying, what was I doing waiting? Here’s what you do… You go and you buy, say, even for Royal Caribbean or Carnival, let’s buy, let’s buy four or five, if you want to buy 200 shares, let’s buy 50, okay? And then see if it comes down. But you get your 50.”
6. PG&E Corporation (NYSE:PCG)
Number of Hedge Fund Holders: 77
PG&E Corporation (NYSE:PCG) is one of the stocks Jim Cramer recently covered. Cramer discussed the stock’s performance for the year, as he commented:
“For the most part, this has been a great year for the electric utilities with a few glaring exceptions. Take PG&E, which is based in Central and Northern California. Its stock is down more than 18% for the year, and that’s in part due to misplaced perceptions about wildfires. I think this one could be a bargain.”
PG&E Corporation (NYSE:PCG) provides electricity and natural gas services through generation, transmission, and distribution networks. It uses nuclear, hydro, fossil fuel, and renewable sources. Cramer called the stock “dirt-cheap” during the February 3 episode. He said:
“But the second biggest decliner is very intriguing. It’s PG&E that’s down 22.4% last month. Now that seems to be just guilt by association. Patti Poppe told us that, she’s the CEO. It doesn’t even operate in Southern California. I think it’s worth buying after last month’s weakness. Yes, it’s dirt cheap. Buy it.”
The company’s stock has gained over 8% since the above comment was aired.
5. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 260
Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer recently covered. A caller asked if the stock is at a good level to buy, and if Cramer sees a stock split ahead. In response, he said:
“Alright, I’m going to answer the latter first by saying I have no concept whether Mark Zuckerberg wants to do a split, but he sure always wants, he sure does want to exceed and having a 24 multiple on next year’s earnings, which I calculate is an insult to this man, to have a market multiple, I expect the stock, which is off 80 points from its high, to have a very big run here and I urge you to stay in it.”
Meta Platforms, Inc. (NASDAQ:META) develops technologies and applications that connect people through social media, messaging, and immersive digital experiences. During the October 7 episode, Cramer mentioned the company and said:
“Meta, he really believes, Mark that… wearing glasses is the best way to get artificial intelligence. So they’re just going to get more and more sophisticated. I feel like I have to buy each iteration. I love the fact, by the way, that Jensen works very closely with Mark, and I think that the method of glass is just going to keep dazzling us. I like the fact that Zuckerberg is ahead of us in thinking, but that’s going to be the form factor, and I think it’s going to work.”
4. Salesforce, Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 121
Salesforce, Inc. (NYSE:CRM) is one of the stocks Jim Cramer recently covered. Cramer said that he is a believer of Marc Benioff’s “ability to deliver on the long-term targets,” as he commented:
“Still for me, the mere announcement of this ambitious revenue target felt like a turning point for Salesforce. As an extremely frustrated long-term shareholder in this one, it was very encouraging to finally get a break from what’s felt like a constant drumbeat of negativity this year, at least from the analysts. Bottom line: After spending the week in San Francisco, much of that time at Dreamforce, I’m feeling a lot more sanguine about Salesforce’s stock than I was last Friday.
That said, if you want to own Salesforce, you need to have faith in Marc Benioff’s ability to deliver on the long-term targets. Given his track record, his long-term track record, call me a believer, which is why we still own this one for the Charitable Trust. At the same time, patience is needed. Even though Salesforce’s new long-term guidance was positive, the enterprise software group is so hated, I don’t know if anyone on Wall Street will even care, at least for the moment.
I don’t know if the stock can snap back anytime soon. I’m simply betting that it’ll be a winner over the next 12 to 18 months, which means you can’t afford to trade in and out of it because when you do that, there’s a very good chance that you’re out of it when we get the eventual gains.”
Salesforce, Inc. (NYSE:CRM) provides cloud-based CRM solutions that connect businesses with customers through AI-driven tools and analytics.
3. e.l.f. Beauty, Inc. (NYSE:ELF)
Number of Hedge Fund Holders: 43
e.l.f. Beauty, Inc. (NYSE:ELF) is one of the stocks Jim Cramer recently covered. Cramer discussed the company’s China reliance, as he remarked:
“While I was on the West Coast, I got a chance to check in with e.l.f. Beauty, the value-oriented cosmetics company based in Oakland. Even though this stock’s up 9% for the year, it’s been a real volatile trader in part because of its heavy reliance on China for manufacturing. But this hasn’t done much to derail the stock lately, and I wouldn’t be surprised if it’s got more upside.”
e.l.f. Beauty, Inc. (NYSE:ELF) develops and sells cosmetics and skincare products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, Naturium, and Keys Soulcare brands. A caller inquired about the stock during the September 15 episode, and Cramer responded:
“I would not worry about the China scare because it’s what I call baked into the stock. What I would worry about is the parabolic move we had today. I mean, ELF is up nine. I think we have to wait till it comes down. I’m thrilled you’re in the club, but I know if I were in the club right now and we owned ELF, I would say trim, don’t buy. That’s just a parabolic move, and that signals that it’s up too much.”
2. Airbnb, Inc. (NASDAQ:ABNB)
Number of Hedge Fund Holders: 79
Airbnb, Inc. (NASDAQ:ABNB) is one of the stocks Jim Cramer recently covered. A caller asked if the stock is a buy, sell, or hold, and Cramer replied:
“Oh, I like Airbnb. It’s chronically being denigrated because people don’t feel that the app does well. Therefore, I think it is time to put your money where your mouth is, Airbnb.”
Airbnb, Inc. (NASDAQ:ABNB) operates an online platform that connects hosts and guests for booking stays and experiences. Sands Capital stated the following regarding Airbnb, Inc. (NASDAQ:ABNB) in its second quarter 2025 investor letter:
“We exited Airbnb, Inc. (NASDAQ:ABNB). Top-line growth decelerated from approximately 40 percent in 2022 to less than 10 percent in the first quarter of 2025, and new growth initiatives appear underwhelming. What we consider Airbnb’s second act—experiences—has been in market for several years but has yet to make a meaningful impact on the business. The stock continues to trade at a premium valuation despite rising uncertainty around its growth trajectory, increasing its vulnerability in our view. We acknowledge that travel remains a secular growth category, particularly if AI-driven productivity gains create more leisure time. We also recognize the potential for significant profit upside if management successfully expands margins. However, Airbnb was a stub weight in Global Growth—representing less than 100 basis points—and given our lack of conviction to increase the position meaningfully, we chose to recycle the capital into higher-conviction opportunities.”
1. American Express Company (NYSE:AXP)
Number of Hedge Fund Holders: 70
American Express Company (NYSE:AXP) is one of the stocks Jim Cramer recently covered. Cramer highlighted the company’s quarter, as he said:
“… By the time we opened, we heard from a series of banks that were doing fine, and we got a spectacular quarter from American Express that fueled still one more rally.”
American Express Company (NYSE:AXP) provides payment, credit, and financing solutions along with travel, lifestyle, and expense management services. Moreover, the company offers merchant processing, loyalty programs, and fraud prevention solutions. Cramer mentioned the company during the September 22 episode and stated:
“Then there’s American Express, which just released a refreshed platinum card, you might have gotten it this weekend, that I’m sure will be a hit, especially with millennials and Gen Z. AMEX should have 12.6% earnings growth next year, just barely better than the market. And don’t be surprised if the actual earnings growth surprises to the upside. At the same time, it’s selling for less than 20 times next year’s numbers. That’s a bit cheaper than the overall S&P.”
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