On Monday, Jim Cramer, the host of Mad Money, addressed the effects of an oversupply of stocks on the market.
“Never forget what really slays bull markets, supply. Once we have more supply than we can handle, we’re headed straight to the slaughterhouse. And I worry that with lots of insider selling and a slew of IPOs, we could be getting there. The biggest source of supply is underwritings. According to data from Renaissance Capital, the IPO research firm, we’ve had 194 IPOs this year, up almost 50% from the same date last year. These new deals amount to total proceeds of $36 billion, which is already up from the $29 billion total from all of last year, not monumental and much smaller than the $142 billion worth of IPOs we had in 2021.”
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Cramer emphasized that oversupply can be a major driver of market downturns. He remarked, “… I’d tell you that the oversupply in 2021 contributed vitally to the bear market in 2022.” He stressed that the newest deals are especially important to monitor because many of the largest IPOs occurred earlier in the year, which allows insiders to start selling stock now, a substantial but often overlooked source of additional supply. He added, “That supply was locked up when the companies came public.”
“Let’s leave it like this: You get too many deals, you get too much real turmoil. We don’t have that yet, but stay vigilant. While we’re getting too much new supply, and it makes me nervous, it’s still a long way from what we saw during the 2021 or the dot-com collapse.”
Our Methodology
For this article, we compiled a list of 12 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on November 24. 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’s Recent Responses to Questions About 12 Stocks
12. Spotify Technology S.A. (NYSE:SPOT)
Number of Hedge Fund Holders: 111
Spotify Technology S.A. (NYSE:SPOT) is one of the stocks Jim Cramer recently answered questions about. When a caller mentioned that the stock has been down recently, Cramer said:
“Yeah, that made no sense to me. I looked at Spotify, too. I don’t understand why it’s not coming back. It’s a great subscription business, and I think you ought to buy the stock.”
Spotify Technology S.A. (NYSE:SPOT) provides audio streaming services. It lets users listen to music and podcasts either through ad-free subscriptions or free, ad-supported access. Cramer mentioned the company during the August 5 episode and commented:
“We know that the latest results missed the mark, and the guidance for the current quarter didn’t have much going for it. But is that enough reason to give up on a stock like Spotify that’s been a serial outperformer for years?… This is the best streaming audio platform around… They’ve acknowledged the shortcomings and laid out a plan to fix it. And look, despite the weakness in ad revenue, Spotify grew monthly active advertisers by 40% year over year. They also know that most of the heavy lifting on their ad tech stack is now complete…
Going forward, Spotify plans to focus on driving adoption, launching new advertising tools, and improving performance. They even said they’re seeing early signs of progress in their programmatic ad sales business. Pretty good, huh? One more positive, Spotify recently increased its buyback authorization from $1 billion to $2 billion, leaving about $1.9 billion still available. The company hasn’t bought back stock since 2022, but this expanded repurchase authorization signals that I think they might be getting ready to buy their own shares, right along with you.
… I never take competition with Apple or Amazon lightly, but Spotify’s still the clear market leader for a reason. For now, nobody else comes close… Even though Spotify’s latest quarter did indeed come up short, no one’s denying that, I think the total breakdown in the stock has created a tremendous buying opportunity, and this is a genuinely great franchise.”
11. Neptune Insurance Holdings Inc. (NYSE:NP)
Number of Hedge Fund Holders: N/A
Neptune Insurance Holdings Inc. (NYSE:NP) is one of the stocks Jim Cramer recently answered questions about. During the lightning round, answering a caller’s question about the stock, Cramer stated:
“You know, the only insurance company I’d recommend is Chubb. I am intrigued by this… I read another good report about it today. I do think that it’s become the way for younger people to trade the… complex of insurance, and it’s up another five today on a very positive recommendation. It’s probably not done.”
Neptune Insurance Holdings Inc. (NYSE:NP) sells residential and commercial flood insurance and parametric earthquake coverage through a network of agencies. The company reported its Q3 earnings on November 12. It posted a GAAP EPS of $0.06, and revenue was up $44.4 million, up 31% year-over-year, and beat estimates by $1.62 million. Neptune Insurance Holdings Inc. (NYSE:NP) reported a 5% decrease in net income mainly due to IPO expenses.
10. Booz Allen Hamilton Holding Corporation (NYSE:BAH)
Number of Hedge Fund Holders: 47
Booz Allen Hamilton Holding Corporation (NYSE:BAH) is one of the stocks Jim Cramer recently answered questions about. When a caller asked about the stock during the lightning round, Cramer said:
“Booz Allen Hamilton got hurt very badly by DOGE. Now, DOGE has since moved on, so to speak, and I think all the way down here, it sells at an incredibly low multiple. I’m going to take the other side of the sellers and recommend the stock.”
Booz Allen Hamilton Holding Corporation (NYSE:BAH) develops technology solutions using AI, cyber, and quantum capabilities. The company provides AI-driven applications, cyber defense, cloud infrastructure, data fusion, and quantum information services. During the lightning round of July 1, a caller asked about the stock, and Cramer replied:
“Oh man. They got clobbered by DOGE, and we’re not done with the clobbering. I think there’s more ahead…”
It is worth noting that Booz Allen Hamilton Holding Corporation’s (NYSE:BAH) stock has declined by nearly 25% since the above comment was aired.
9. Rocket Lab Corporation (NASDAQ:RKLB)
Number of Hedge Fund Holders: 46
Rocket Lab Corporation (NASDAQ:RKLB) is one of the stocks Jim Cramer recently answered questions about. A caller referred to Cramer’s teaching of speculating wisely and mentioned their belief that RKLB stock has a lot of potential. Cramer replied:
“Okay, look, I have to tell you, I think this stock is very, you know, look, as these stocks go, I’m not going to call it inexpensive because this is a spec. But as specs go, I like it at these prices. How about that? I think that’s a fair way to put it.”
Rocket Lab Corporation (NASDAQ:RKLB) provides launch services, spacecraft design, manufacturing, and on-orbit management solutions. It develops small and medium-class rockets, including the Electron and Neutron launch vehicles. During the October 31 episode, a caller highlighted the stock as a speculative pick in their portfolio, and Cramer responded:
“Alright, I’m glad you said it’s a spec stock because otherwise I would not endorse it. I think it is a good spec, but it loses so much money. You gotta be aware that who knows where it can ultimately end up.”
8. Iron Mountain Incorporated (NYSE:IRM)
Number of Hedge Fund Holders: 47
Iron Mountain Incorporated (NYSE:IRM) is one of the stocks Jim Cramer recently answered questions about. Noting that there has been a landslide in the stock, a caller mentioned that they have been crushed and asked what they should do. Here’s what Cramer had to say:
“Yeah. I mean, people are really trying to rethink, that stock’s being rethinked… on the fly and in a very negative way. I think it’s got a 4% yield now, that’ll probably hold. But if it rallies at all, I do want you to sell it. I just don’t see the upside.”
Iron Mountain Incorporated (NYSE:IRM) provides solutions that help organizations manage, secure, and extract value from their physical and digital assets. Baron Real Estate Fund stated the following regarding Iron Mountain Incorporated (NYSE:IRM) in its third quarter 2025 investor letter:
“In the third quarter, we initiated a new REIT position in Iron Mountain Incorporated (NYSE:IRM), as its shares offered a compelling valuation level combined with attractive long-term growth prospects. Iron Mountain offers record storage management along with an evolving fast-growing data center segment.
We have continued to meet with CEO Bill Meany and CFO Barry Hytinen and remain encouraged by the company’s prospects to increase overall cash flow per share by approximately 10% over the next several years, far more than our growth expectations for most other REITs. The company’s strong growth outlook is underpinned by predictable and stable growth in its core records management business, while outsized growth is driven by its data center business which has visibility to more than the triple operational capacity from today’s in-place base. Further, the company’s asset life cycle management business continues to grow at more than 20% year-over-year with opportunities to further consolidate the fragmented market.”
7. Jacobs Solutions Inc. (NYSE:J)
Number of Hedge Fund Holders: 35
Jacobs Solutions Inc. (NYSE:J) is one of the stocks Jim Cramer recently answered questions about. Responding to a caller’s question about the stock during the lightning round, Cramer said:
“Okay, let me just say right now, Jacobs Solutions, I think, was incorrectly valued last week when an analyst came out and said that they did not do the number and did not do the forecast. That was not true. Bob Pragada did the number, and he gave a good forecast. And that’s why I think that Goldman Sachs recommended it today. I can’t speak highly enough about both Jacobs and the price that it’s at. I would buy this thing at $132.”
Jacobs Solutions Inc. (NYSE:J) provides consulting, design, engineering, and infrastructure delivery services for several industries. Cramer highlighted the company’s data center business during the October 7 episode, as he commented:
“I want to highlight another group that doesn’t get as much attention, actually, kind of gets almost no attention despite the fact that they’re some of the clearest winners in this whole process. I’m talking about what we used to call the ENC stocks, the engineering construction firms that literally build the data centers. Take Jacobs Solution, up almost 48% from its April lows… Jacobs has been in the data center construction business since 2007… The digital twin concept is a real cost-saver, especially in times of tremendous materials inflation.
And look, the data center exposure is already paying off. When Jacobs reported its most recent quarter, the company delivered a nice earnings boost and raised its full-year earnings forecast. Nice, huh? Management called out the data center boom as one of the top drivers of the company’s core infrastructure and advanced facilities business. Look, I think Jacobs remains a winner both for the data center and because they can make a bundle from new manufacturing facilities being built in the United States, including pharmaceutical plants. Think of them as a terrific reshoring play.”
6. Astera Labs, Inc. (NASDAQ:ALAB)
Number of Hedge Fund Holders: 56
Astera Labs, Inc. (NASDAQ:ALAB) is one of the stocks Jim Cramer recently answered questions about. A caller noted that the stock has been on their watchlist, and mentioned its robust margins and triple-digit revenue growth. In response, Cramer commented:
“You know, look, it sells at 82 times earnings. I mean, there’s just… it’s the most highly valued stock in the entire stock market. I cannot get behind it at these prices, even though I think it’s a very very good company.”
Astera Labs, Inc. (NASDAQ:ALAB) develops semiconductor-based connectivity solutions and software for cloud and AI infrastructure. The company’s products include intelligent connectivity platforms, smart retimers, cable modules, memory controllers, and system management software. A caller asked for Cramer’s thoughts on the stock during the August 27 episode, and the Mad Money host replied:
“Here’s my thoughts… I feel like an idiot for telling people, not telling people to buy it. I look at it all the time. I turn to my colleague, buddy, pal, friend, Jeff Marks, and say, what was I thinking in Astera Labs? So I’m upset that I missed it.”
5. FTAI Aviation Ltd. (NADSAQ:FTAI)
Number of Hedge Fund Holders: 48
FTAI Aviation Ltd. (NASDAQ:FTAI) is one of the stocks Jim Cramer recently answered questions about. A caller mentioned that they do not understand why the stock is not higher despite its various positive catalysts. Cramer stated:
“I like it too. It’s aviation. But remember, aviation is not doing as well as the companies in travel, and that’s what’s hurting FTAI. I want you to hold on to it, though.”
FTAI Aviation Ltd. (NASDAQ:FTAI) owns, leases, and sells aircraft, engines, and aerospace components. In addition, the company provides repair and refurbishment services. Tourlite Capital Management stated the following regarding FTAI Aviation Ltd. (NASDAQ:FTAI) in its third quarter 2025 investor letter:
“In addition to continued strong fundamentals and growing market adoption of its offerings, FTAI Aviation Ltd. (NASDAQ:FTAI) has several catalysts over the coming months, including an investor day at its Montreal facility, anticipated FAA approval for its third PMA part, and the potential launch of a second Strategic Capital Initiative (SCI) vehicle. We continue to see a path for FTAI to be worth over $250 per share over the next 12 months.”
4. Marvell Technology, Inc. (NASDAQ:MRVL)
Number of Hedge Fund Holders: 76
Marvell Technology, Inc. (NASDAQ:MRVL) is one of the stocks Jim Cramer recently answered questions about. Answering a caller’s query about the stock, Cramer remarked:
“Okay, Marvell is a winner when we talk about this non-Nvidia, who makes chips for themselves kind of thing. And Marvell is a very good stock. There’s a lot of takeover fluff in it. I want to wait for that fluff to be taken out of it. I’m not going to recommend the stock up $6.”
Marvell Technology, Inc. (NASDAQ:MRVL) develops semiconductor solutions for data infrastructure, including system-on-a-chip designs, processors, and networking and storage products. During the September 25 episode, a caller asked Cramer if the company’s stock is positioned to take advantage of AI and data center spending, and the Mad Money host responded:
“I think, absolutely right. And it just announced a big buyback, and it’s had a lot of insider buying and I’ve gotta tell you, this company has felt very maligned. Marvell is really an excellent company. Matt Murphy’s done a fantastic job. It has been creeping up ever since the so-called disappointment. It was up 3.7 today. You got a winner.”
3. Howmet Aerospace Inc. (NYSE:HWM)
Number of Hedge Fund Holders: 57
Howmet Aerospace Inc. (NYSE:HWM) is one of the stocks Jim Cramer recently answered questions about. During the lightning round, a caller mentioned that they bought the stock in 2014 and inquired if they should hold or sell it. In response, Cramer said:
“Okay, I want you to hold Howmet. I think it’s probably the best performer in the industry. It’s going up even as its… really its major customers are not doing that well. Can you imagine what happens when the customers start doing well? I say hold on to Howmet.”
Howmet Aerospace Inc. (NYSE:HWM) provides engineered solutions for aerospace and transportation, including aircraft engine components, fastening systems, structural materials, and forged wheels. Cramer highlighted the stock during the July 1 episode and said:
“But what do we do with the very different set of winners for the first half? I want you to consider the GE Vernovas and the Howmets and the Palantirs, the stocks that are likely to finish the year dramatically higher from these exalted levels. What do you do with the stocks that have been on a run nonstop for 26 weeks, though? I think you send them on one of those two-week vacations like that Southeast Asia, Cape Town, maybe New Zealand. You pay no attention to them. Let them have a good time. Just take them off your screen, come back to them when the rotations run its course.”
2. Keurig Dr Pepper Inc. (NASDAQ:KDP)
Number of Hedge Fund Holders: 46
Keurig Dr Pepper Inc. (NASDAQ:KDP) is one of the stocks Jim Cramer recently answered questions about. When a caller asked if they are safe in the stock, Cramer commented:
“Yeah, I think you are. They’re cleaning… They’re doing some good things. The stock is down huge, yields 3.3%. I think that’s a safe field yield. I would actually join you in that. We did a piece saying that maybe this is finally the bottom, and I think it very much is.”
Keurig Dr Pepper Inc. (NASDAQ:KDP) produces and distributes beverages and single-serve brewing systems. The company’s products include soft drinks, specialty coffee, tea, and ready-to-drink beverages. During the September 11 episode, Cramer mentioned the company and said:
“If you want a company with a perfect track record of strategic decision making, whoa, this one is not for you. But if you want a company that’s finally headed in the right direction with a stock that’s gotten too cheap, then I think Keurig Dr Pepper makes a lot of sense. First, they’re right to break up the business. In retrospect, there were never any real benefits to combining a coffee machine company with a soda company. Wall Street likes bite-sized companies that are easy to understand…
This is how breakups create value. Money managers who were turned off by the combined entity might happily buy one of the components as soon as it trades separately. Second, in terms of valuation, now this is what really intrigues me, I think finally the stock has gotten way too cheap. If you use Keurig Dr Pepper’s current enterprise value… and divide it by the company’s trailing 12 months… EBITDA, you get an enterprise multiple of 8.5%. This is a metric we like to use in merger breakup situations…
Of course. that ignores the new debt that Keurig Dr Pepper’s going to have to take on to buy the JDE Peet. But even if we assume that they’re going to plan to borrow 18 billion, the stock would have an enterprise multiple of 11.4, which is still a huge discount to Coke and a small discount to Pepsi. I think this gap is pretty compelling. Of course, there will likely be twists and turns over the next year and a half as this merger breakup unfolds.
So I need more details before having real conviction in the new companies that will be created by the breakup. But the bottom line: Regardless of how Keurig Dr Pepper got to this point, I think the breakup could unlock a tremendous amount of value. Given how much the stock’s come down since the announcement, I think you have to be a buyer here, not a seller, as shocking and contrarian as that is to the current Wall Street wisdom on the matter.”
1. Tractor Supply Company (NASDAQ:TSCO)
Number of Hedge Fund Holders: 41
Tractor Supply Company (NASDAQ:TSCO) is one of the stocks Jim Cramer recently answered questions about. A caller asked if the stock is a buy, sell, or hold during the episode, and Cramer replied:
“Well, I talked about Tractor Supply this morning on Squawk on the Street. Now, I felt that it had a pretty good chance to be able to make a comeback here. I know it’s down a lot. I’m going to say you want to buy that one.”
Tractor Supply Company (NASDAQ:TSCO) is a rural lifestyle retailer that provides livestock and pet products, farm and garden equipment, tools, seasonal goods, and clothing. A caller asked for advice on the stock during the October 28 episode and Cramer responded:
“Alright, now, I’ve gotta tell you, here’s my feeling on Tractor Supply. Short term, I’m not a big fan of retail, but Hal Lawton runs that place, and he runs a tight ship. I think you gotta give it some time. It sells at 26 times earnings. I’d feel a little better if it was under the market multiple, maybe 22 times earnings. And… you know, I care about it. And… look, you read How to Make Money in Any Market, just read about the… chapter on multiples and know that I think that the multiple is too high. No reflection on Mr. Lawton, just a reflection that the stock’s a little bit up too much.”
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