On Wednesday, Jim Cramer, the host of Mad Money, shared his concerns about President Donald Trump’s approach to trade and its implications for investors. Cramer argued that the President seems more focused on punishing America’s trading partners than creating a favorable environment for those looking to invest.
“Whether you think it’s good policy or bad policy, it sure seems like Wall Street’s gotten tired of worrying about it and just says, bring it on. Although today in some sort of weird reprieve, the Dow gained 235 points, the S&P advanced 0.67% and the Nasdaq actually climbed 0.87%. You know what? That’s kind of like a joke. See, because that was before all the announcements after hours and the trades after hours are painting a different picture, a horrendous picture.”
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Cramer emphasized that President Trump has not shown much interest in how stock market performance affects everyday investors recently. He pointed out that Trump has not once mentioned investing in stocks during this period of trade conflict. As per Cramer, it signals that the President no longer prioritizes the stock market. Cramer highlighted that instead, Trump’s primary goal seems to be forcing other countries to submit to U.S. demands, even if it leads to higher inflation and rising prices for goods in America. According to Cramer, Trump is willing to accept the negative impact on the market and the broader economy as long as he achieves his objectives in trade.
“Here’s the bottom line: The stock market may matter to you and me. It used to matter to Trump, but that was then, and this is now. He wants to punish our trading partners for taking advantage of us and he’ll do whatever it takes to make that happen, even if it crushes our stock market and results in higher prices for all sorts of goods for you and me in America. If that’s what it takes to get it done, he is going to do it. I say get over it and we will work together to find stocks that no matter what Trump does, he can’t hurt us even as that universe grows smaller by the day. It turns out I was right. It really is the Walmart White House. Trump really does believe in everyday lower stock prices, not in the supermarket, not in the cereal aisle, and not in the fruit aisle, and not in any of the aisles, only these aisles right here in the New York Stock Exchange.”
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 April 2. We listed the stocks in ascending order of their hedge fund sentiment as of the fourth quarter of 2024, which was taken from Insider Monkey’s database of over 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).
Jim Cramer’s Take on These 10 Stocks
10. Newsmax, Inc. (NYSE:NMAX)
Number of Hedge Fund Holders: N/A
Highlighting its recent IPO, a caller asked Cramer’s opinion of Newsmax, Inc. (NYSE:NMAX) and he replied:
“Okay, that’s a good question. Okay, it’s, it’s a meme stock. What does that mean? It means it’s in control by a few people who write, a meme stock actually means that it’s determined by social media. It’s not determined by buyers and sellers of the traditional ilk. Social media was big on it yesterday and it’s turned on it today because we don’t know what social media will do. It’s therefore not predictable. It’s no more predictable for me than who’s going to win in a given game, and there’s no line to help you.”
Newsmax (NYSE:NMAX) is a television broadcaster and content publisher that produces and licenses news, business, and lifestyle content. It also offers online advertising, subscriptions, and e-commerce through its various platforms and subsidiaries.
9. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holders: 27
Highlighting the need for clean and abundant energy, a caller inquired about Oklo Inc. (NYSE:OKLO). Here’s what Cramer had to say:
‘Well, I’m a great believer in nuclear power, but that does not make me want to own any of the stocks that are involved in it right now, given the fact that it’s going to be so many years before we actually build it. So I’m gonna have to say [sell, sell, sell] Oklo.”
Oklo (NYSE:OKLO) designs and develops fission power plants to provide reliable, commercial-scale energy. The company also provides services for recycling used nuclear fuel. It is worth noting that on March 25, Cramer remarked during an episode of Squawk on the Street:
“And that’s why Oklo was so interesting. Even though I think it’s you know very speculative. You need nuclear very badly. You just need nuclear.”
8. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)
Number of Hedge Fund Holders: 34
A caller asked if they should buy, sell, or hold Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) and Cramer replied:
“Oh, you want to buy Ollie’s? That is a closeout operation. I’m a member of Ollie’s army. I know this stock is up. It should be up. It’s right near its high. It belongs near its high. It’s a winner in this environment, especially after tonight.”
Ollie’s Bargain (NASDAQ:OLLI) is a retailer that sells a wide range of brand-name products. Cramer expressed a similar bullish sentiment regarding the company in December 2024 when he said:
“Well I’ve been saying, I pushed Ollie’s really hard last week. Cause Ollie’s the biggest roadmap of all of these close out stores. I like TJX, that’s the king. But David, if you went with me to my Ollie’s, of course you’d have to be a sergeant, and I’d have to enlist you in the army, but Ollie’s you never know what you’re going to find there. Ever.”
7. Southwest Airlines Co. (NYSE:LUV)
Number of Hedge Fund Holders: 34
A caller asked Cramer’s opinion on Southwest Airlines Co. (NYSE:LUV) and he replied:
“Well, I know when you go there, like, you know, people are like miffed, but I’ll tell you, I don’t like the airlines. Once again, they turned out to be just as I thought. They had a big cyclical move and now they’re done. It’s time to sell Southwest Air.”
Southwest Airlines (NYSE:LUV) is an airline that provides scheduled flights within the United States and to various nearby international destinations. Earlier in March, when asked about the company, Cramer remarked:
“‘How about that Southwest Air. I was getting worried about that team, but what a comeback. Who knew charging for bags would make such a difference.’”
6. Vail Resorts, Inc. (NYSE:MTN)
Number of Hedge Fund Holders: 35
During the lightning round, a caller inquired about Vail Resorts, Inc. (NYSE:MTN) and Cramer replied, “I actually agree with you. This stock has come down so hard. I’m getting real interested in MTN.”
Vail Resorts (NYSE:MTN) provides services like ski schools, dining, and retail at its mountain resorts, lodging, and real estate properties. The company also develops real estate and owns and manages luxury hotels and condominiums. Artisan Partners stated the following regarding Vail Resorts, Inc. (NYSE:MTN) in its Q4 2024 investor letter:
“Top Q4 contributors included Expedia, First Citizens and Vail Resorts, Inc. (NYSE:MTN). For Vail Resorts, a premium skiing, lodging and resort company, good snow accumulation early in the season and better-than-expected pass sales that trended higher since the company’s late-September update lifted shares. After two years of tough weather, featuring below average snowfall and highly variable temperatures that contributed to reduced visitation, the hope is early snow results this winter are a harbinger of a better ski season. Vail is one of a couple dominant players in an industry that benefits from high barriers to entry due to the fixed supply of suitable mountains. Of course, this is a highly seasonal business, dependent on appetite for ski vacations and the right weather conditions, but the company has made strides to improve the business model by increasing the percentage of its business from the advance commitment pass product, which transforms the business from one of uncertainty and weather dependency to one of greater visibility and predictability. This provides stability and the ability to spend on capex during the offseason to improve the guest experience as well as pursue additional footprint expansion. While some years are better than others, the company has been consistently free cash flow positive and prudently allocates capital, with excess capital returned to shareholders, primarily via dividends.”
5. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 39
A caller asked if they should hold onto Enphase Energy, Inc. (NASDAQ:ENPH) and wait for any good news or sell it and buy Capital One. In response, Cramer said:
“No. Sell out and buy Capital One. There will be no good news in Enphase because you know why? It’s not a company that the president wants to see do well. It means nothing to him, nothing.”
Enphase Energy (NASDAQ:ENPH) focuses on the solar photovoltaic industry. It designs, develops, produces, and sells energy solutions. In February, Cramer commented:
“The residential solar stocks soared in 2020 and 2021 and kept running into 2022 even when most growth plays were getting pulverized. If you owned it, maybe you thought you were winning because people were embracing renewable energy and the government was subsidizing it heavily. But in 2023, the residential solar stocks, they, they got obliterated. Why?
Do you know that it had nothing to do with the popularity of renewable energy and it couldn’t be stopped by generous federal subsidies? Instead, it turned out that people can’t really afford residential solar systems without borrowing money. Meaning the whole industry was actually built not on solar but on financing. And once people realized long-term interest rates would remain elevated for quite some time, the residential solar stocks, they all got crushed. It’s not a coincidence, something like Enphase was roaring in 2020 and 2021 when people could borrow money for next to nothing.”
4. On Holding AG (NYSE:ONON)
Number of Hedge Fund Holders: 49
A caller asked if it was worth investing in On Holding AG (NYSE:ONON) and Cramer remarked:
“I like On very much. I think it is worth it. I think Nike’s fallen on hard times and ON has picked up the slack. They’re doing incredibly well. They got a new single CEO and I really like him. Don’t buy it all at once because this market is horrible.”
On Holding (NYSE:ONON) designs and sells sports products globally. The company provides athletic footwear, apparel, and accessories for running, outdoor activities, training, daily wear, and tennis. Last week during an episode, Cramer stated:
“Okay, we have liked On Holding for some time. We actually started liking it in the $30s… It is a high multiple stock, same multiple in this… [as] Chipotle. I want you to buy the stock, yes, but I want you to let it come in first because the market’s going to be looking a little peaked off of these, frankly, off of the very high tariffs that many people weren’t expecting.”
3. BlackRock, Inc. (NYSE:BLK)
Number of Hedge Fund Holders: 53
Highlighting its over $11 trillion in assets under management, a caller inquired about BlackRock, Inc. (NYSE:BLK), and here’s what Cramer had to say:
“Okay, BlackRock is doing incredibly well and, I read through Larry Fink, he’s the CEO’s letter the other day. Oh my God. It was just a great letter and he is doing all these things that are really good for infrastructure that’s going to make a lot of money for the people who invest there. But that said, it’s an American stock, and tomorrow President Trump has issued an edict, which is that your stock’s going to go down now. He didn’t really say so much in the edict. I do the interpretation.”
BlackRock (NYSE:BLK) is an investment management firm, which offers risk management, advisory services, and a variety of investment products, including mutual funds, ETFs, and hedge funds across different asset classes.
2. Vertiv Holdings Co (NYSE:VRT)
Number of Hedge Fund Holders: 92
A caller asked if they should buy more of Vertiv Holdings Co (NYSE:VRT) or ride out the storm. In response, Cramer commented:
“Okay, Vertiv’s probably going to go down about, between 10 and 15% off this news that we got tonight and then you might want to take a look at it. But a lot of people feel it’s a broken stock. It does make the innards of data center[s]. It is doing incredibly well… but that doesn’t seem to matter at this moment because the market’s highly emotional.”
Vertiv (NYSE:VRT) focuses on providing and supporting essential digital infrastructure solutions. The company offers lifecycle services for data centers, communication networks, and different commercial and industrial sectors. On March 13, Cramer stated:
“There isn’t [a change to the order flow]. The CoreWeave guys . . .would tell you work is just I mean, you know wow, Vertiv is doing really, really well. And I spent some time with David Cote this weekend, who is the chairman. And, I just think that’s just all sentiment. You can’t, any of the electrical numbers show you that Vertiv, uh, they’re putting them up left and right still. But that’s all, that’s all zeitgeist. That’s zeitgeist with the idea that’s over. I think GTC next week with Jensen Huang that’s the Woodstock of AI, you’ll hear good things about Vertiv. But it’s part of the accursed business which is the data center ever since DeepSeek is over. Now that’s a complete canard. But no one’s been able to reverse the narrative no matter how hard they try.”
1. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 115
A caller asked if it was a good time to start a position in Eli Lilly and Company (NYSE:LLY). Here’s what Mad Money’s host had to say in response:
“I think that Eli Lilly is probably one of the least tariffed, least dangerous stocks. It does have a high dollar amount, $818, but I remember what Ken Langone told us, he’s the greatest, greatest investor that I’ve ever dealt with. He says, own Eli Lilly, going to a trillion dollars… I am with Ken Langone.”
Eli Lilly and Company (NYSE:LLY) focuses on researching, developing, and selling a wide range of pharmaceutical products, including treatments for diabetes, cancer, autoimmune diseases, pain, and migraines. Parnassus Investments stated the following regarding Eli Lilly and Company (NYSE:LLY) in its Q4 2024 investor letter:
“Eli Lilly and Company (NYSE:LLY) stock declined following worse-than-expected third quarter results for its weight-loss drug segment. We initiated our position partway through the quarter, after the drawdown and in time for a partial rebound, and our average underweight for the quarter led to a relative contribution.
In the Health Care sector, we added drugmaker Eli Lilly, which has an exceptional GLP-1 franchise and a strong track record of innovation, which position the company for long-term growth. A rare revenue miss and President-elect Trump’s health secretary nomination sparked a sell-off, providing a window of opportunity to gain exposure to the drugmaker’s attractive product suite and pipeline at an attractive valuation.”
While we acknowledge the potential of Eli Lilly and Company (NYSE:LLY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than LLY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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