In this article, we will look at stocks Jim Cramer covered on Mad Money as he discussed the wave of IPOs being the market’s possible biggest threat. The host of CNBC’s Mad Money said on Monday that one of the most underappreciated threats facing the market right now is the potential surge of very large initial public offerings.
Oh, we got a two-tiered market going on here, a real best of times, worst of times situation. The first tier is making you a fortune, but the second tier is downright awful… There are the beloved stocks that have something, anything to do with the data center, and then there’s the forlorn part of the market, basically everything else… Some days like today have some of the data center complex in retreat even as the mainstays plow forward. But you can still sense that any pullback might just be temporary and the result of just short-term overheating. I regard these pullbacks as buying opportunities, provided they take you down at least say 5%. They’re refuges from the hazards of the war as they don’t really correlate with energy other than on their own grid… They’re separate, apart from all others.
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Cramer highlighted a lineup of highly anticipated IPOs, including those from OpenAI, SpaceX, and Anthropic. He said the expected demand for these offerings could be so intense that investors might pull money out of existing holdings, including components of the S&P 500, in order to participate. He said that such a shift in capital could put pressure on the broader market even if enthusiasm for technology and artificial intelligence remains high.
Here’s the bottom line: At the moment, these IPOs are far enough away that I’m not fretting. That said, if the trial’s a fast one and OpenAI has a shot of coming public this year, they might be in a foot race with Anthropic. I don’t know which will be the winner, but the bull could be the loser because the bull runs on money. And the fourth industrial revolution or not, it just might run out of money if this trio of IPOs goes through the chute at one time.
Our Methodology
For this article, we compiled a list of 23 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 27. We listed the stocks in the order that Cramer mentioned them.
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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
Jim Cramer’s 23 Stocks: Arm, QXO, and the Market’s Biggest Threat
23. Kaiser Aluminum Corporation (NASDAQ:KALU)
Kaiser Aluminum Corporation (NASDAQ:KALU) was among the stocks Jim Cramer covered on Mad Money as he discussed the wave of IPOs being the market’s possible biggest threat. Toward the end of the lightning round, responding to a caller’s query about the company, Cramer said:
Kaiser Aluminum is just up on such a spike. I know it’s absolutely terrific, and aluminum’s got all the tariff stuff going for it, but I can’t recommend it. It’s just straight up. I’m sorry.
Kaiser Aluminum Corporation (NASDAQ:KALU) manufactures and sells semi-fabricated specialty aluminum products, including flat-rolled plates, extruded shapes, and drawn tubes. The company reported its Q1 2026 results on April 22, posting a non-GAAP EPS of $3.74, outperforming estimates by $1.78. Its revenues were up 41.6% year-over-year at $1.1 billion, beating estimates by $100.1 million.
For the full year 2026, Kaiser Aluminum Corporation (NASDAQ:KALU) expects 10% to 15% improvement in conversion revenue and 20% to 30% in adjusted EBITDA.
22. QXO, Inc. (NYSE:QXO)
QXO, Inc. (NYSE:QXO) was among the stocks Jim Cramer covered on Mad Money as he discussed the wave of IPOs being the market’s possible biggest threat. A caller asked for Cramer’s view on the company and its CEO. Cramer stated:
Oh, okay, Brad’s a winner. Brad is going to make a series of acquisitions that are going to make it into a great home building, let’s say clearing house place with just lots of different warehouses, lots of different stuff all over the country. And when rates start coming down, this stock is going to go from $20 to $30. You want to be with Brad Jacobs, not against him.
QXO, Inc. (NYSE:QXO) supplies roofing, waterproofing, and building materials, including siding, insulation, and construction accessories. A caller inquired about the stock during the February 26 episode, and Cramer responded:
Okay, that’s Brad Jacobs’ company. I don’t bet against Brad. That’s roofing. Normally, it shouldn’t be doing right now in the cycle, but Jacobs will pull it off. You can buy it.
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