In this article, we will take a look at 12 stocks that Jim Cramer discussed 6 months ago during his show on July 29, 2024, and examine whether he was right or wrong about those stocks.
Back then, Cramer was talking about the “great broadening” which he described as the event where every stock was rallying except for the large cap stocks. He said:
“This market is not experiencing a small cap rally, it’s experiencing a rally in everything else but the tech titans.”
He also pointed out that many small-cap stocks were being bought indiscriminately through index funds like the Russell 2000, the S&P Small Cap 600, and the S&P Mid Cap 400.
“The big institutions don’t have time to examine all these different small-cap stocks, they just buy the index itself as an entity because it’s still historically cheap, even after this rally.”
That’s the essence of the broadening—some real treasures and some real trash getting scooped up together. He then explained:
“The treasure being companies that do better when interest rates go down like when the Fed starts cutting.”
Unlike the cash-rich tech giants that don’t need lower interest rates, small caps benefit tremendously from falling rates. That’s why investors were selling their big-tech winners from earlier in the year and cycling into cheaper small-cap stocks.
Jim Cramer was particularly enthusiastic about this narrative back then and said that investors should “celebrate the market’s good breadth”.
Our Methodology
For this article, we compiled a list of 12 stocks that were discussed by Jim Cramer during the episode of Mad Money on July 29, 2024. We then calculated their performance from July 29th, 2024, market close to February 4th, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey’s Q3 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them.
Note: This article covers Jim Cramer’s commentary from July 29, 2024, and does not account for any changes in his opinions regarding the stocks mentioned. Therefore, the commentary should not be mistaken for his latest opinions on any of the stocks that are mentioned.
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12. McDonalds (NYSE:MCD)
Number of Hedge Fund Investors: 60
McDonald’s had reported weak same-store sales back then, missing both revenue and earnings expectations. But instead of getting punished, the stock jumped nearly 4%. But Cramer wasn’t buying the optimism, saying:
“Frankly, nobody was truly disappointed by McDonald’s because everyone expected them to have bad numbers.”
The company had rolled out a $5 value meal plan to spark demand, but Cramer saw it as a desperation move:
“The fact that McDonald’s would kick out a plan to return to growth was enough to get everyone excited.”
However, the stock is up 11% since the episode aired in July, which shows that McDonald’s growth has, in fact, been working so far.
11. 3M Company (NYSE:MMM)
Number of Hedge Fund Investors: 82
Cramer seemed enthusiastic about the stock, suggesting that a change is happening at 3M Company. With a new CEO, Bill Brown, in charge, the company was aggressively cutting costs and identifying new growth areas. That was enough to send the stock soaring 23% at the time. Cramer said:
“All it took for the stock to rally was the CEO talking about where he sees cost cuts and multiple segments that could grow faster.”
This wasn’t about takeover speculation—it was about 3M Company playing catch-up after years of struggles. Cramer liked that Brown was taking an active approach to fixing the company, and he saw momentum building behind the turnaround.
Jim’s optimism was spot on, as the stock has rallied by an additional 20% since the end of July.
10. Bristol Myers (NYSE:BMY)
Number of Hedge Fund Investors: 72
Bristol Myers had been left for dead on Wall Street, plagued by years of missed earnings and patent concerns. But at the time the show aired, the company surprised everyone by raising its full-year guidance and delivering a huge earnings beat. Cramer emphasized:
“What happened with Bristol-Meyers is that after years of repeatedly missing earnings estimates, a new CEO came in and now they’re knocking it out of the park”.
He saw the market finally rewarding a well-executed turnaround, saying:
“They can’t just rely endlessly on Eli Lilly,” he warned, highlighting how Bristol needed a fresh drug pipeline to win back investor confidence.
With new leadership in place and strong execution, Cramer liked the stock again.
And he’s been right about that, with the stock being up more than 20% since his comments.
9. Meta Platforms Inc. (NASDAQ:META)
Number of Hedge Fund Investors: 239
A caller asked about Meta’s outlook over the next 1-2 years, and Cramer acknowledged that the stock is facing selling pressure despite its strong fundamentals, saying:
“The problem with Meta right now is it’s gone up so much that people are just selling Meta to buy a lot of stuff in the small and medium-sized range.”
Cramer thinks this trend isn’t going to change anytime soon, regardless of what Mark Zuckerberg says.
“Just be aware that the stock’s in the doghouse right now, and it could come out of it only if it gets even cheaper.”
However, the stock hasn’t gotten any cheaper since then. In fact, it has risen by more than 50% since Cramer’s comments.
In fairness, Jim Cramer has also changed his stance on the stock since then, having praised the company and its CEO Mark Zuckerberg in a more recent episode, saying:
“The second wild card, Meta Platforms. I think the company will talk about dominance, visceral, raw dominance, both on the top and the bottom line. Lookout, TikTok, you think you’re so darn hot, but Mark the Hunter Zuckerberg has you in his sights. I for one am glad that Zuckerberg’s an American.”
8. On Semiconductor (NASDAQ:ON)
Number of Hedge Fund Investors: 45
ON Semiconductor had a history of disappointing earnings, and expectations were low. But this time, the company beat estimates, delivering a solid quarter and an 11% stock rally. Cramer mentioned in his old episode about how the trend was changing:
“ON Semiconductor reported and we’ve gotten used to it missing the numbers. It’s kind of like a old shoe missing numbers at this point but not this time.”
He then quoted the company’s CEO Hassane El-Khoury who pointed to stabilizing demand in core markets, adding that China was recovering in both industrial and auto.
Cramer’s verdict? The rotation out of Nvidia (NVDA) and into the rest of the chip space was in full effect. He saw ON Semi as a major beneficiary, saying:
“You’ll see a wholesale redistribution from the once loved Nvidia to everything else.”
However, the stock has been taking a beating since then, being down by 35%. Jim has been more cautious on the semiconductor stocks recently, saying:
“The semiconductor cohort is all over the place. The ones selling into the AI team are still doing pretty well, but anything cyclical like Texas Instruments or ON Semi has, it had a real tough go.”
7. Lamb Weston Holdings (NYSE:LW)
Number of Hedge Fund Investors: 39
Lamb Weston had suffered a brutal 28% collapse, its second major earnings disaster in a row. The company, which supplies frozen potato products, had become one of the worst-performing stocks in the S&P 500. Cramer wasn’t surprised at the time and said:
“Lamb Weston was a total home run for a long time, but suddenly, it’s one of the worst stocks in the market.”
He then highlighted the company’s problems, such as reduced restaurant traffic, the potato glut that has been killing its margins and that GLP-1 weight loss drugs were big threats to the stock. But he also saw an opportunity in the weakness, saying:
“At some point, The Great Potato Glut will end. This stock has been cut in half—it’s now dirt cheap.”
Even if Lamb Weston disappoints further, the downside may be limited. Cramer wasn’t calling a bottom at the time, but for investors with patience, he saw a chance to pick up shares slowly before a long-term recovery.
It appears that Cramer was spot on with this one. Although the stock hasn’t performed exceptionally, being up by just 6% since, the stock did hit its bottom a few days before the program aired on July 29th.
6. Columbia Sportswear (NASDAQ:COLM)
Number of Hedge Fund Investors: 15
Columbia had been dealing with weak retail sentiment, but international growth and product innovation were keeping the brand strong. Cramer was particularly impressed by Columbia’s new “polar bear” technology, designed to retain heat in extreme cold. He praised it by saying:
“This is a real game-changer, and I think it’s going to be a major hit.”
Columbia was also working through excess inventory and improving its direct-to-consumer strategy.
In general, Jim Cramer repeatedly praised the CEO and emphasized how much he likes the company and its focus on innovation:
“I got to tell you, I love your stuff; everybody does because there’s always some new technology … I think it’s the technology that is crucial to the company and you always deliver.”
The stock has been doing well since then, being up by 10%.
5. Abbott Laboratories (NYSE:ABT)
Number of Hedge Fund Investors: 64
Abbott had lost a massive $495 million lawsuit over specialized baby formula back when the episode was aired, and Cramer said at the time:
“I knew Abbott Labs was in trouble, but I didn’t know the extent of the damage … honestly, this verdict is an outrage.”
Abbott’s formula is used in neonatal intensive care units and recommended by doctors—yet trial lawyers successfully convinced a jury that it was causing harm, despite no clear scientific evidence.
His fears were that Abbott might pull the product entirely rather than risk further lawsuits—just like Johnson & Johnson did with baby powder. Abbott initially dropped but rebounded by the close, which Cramer saw as a sign that Wall Street saw the lawsuit as excessive:
“I’m honestly amazed that Abbott’s stock after open is down more than 4% … perhaps that’s because the stock’s already down, perhaps it’s because Wall Street recognizes a joke when it sees one.”
He expressed his stance against the lawsuit, supporting the notion that the company wasn’t actually trying to profit from this product, saying:
“The company didn’t hide anything. I very much doubt the risk, and the product’s a money loser anyway”.
The stock however, has rallied by 23% since Cramer’s comments in July 2024.
More recently in January 2025, Cramer praised the company, noting:
“Abbott, not understood very well because they’re doing tremendous stuff when it comes to diabetes. People don’t seem to care.”
4. Texas Instruments (NASDAQ:TXN)
Number of Hedge Fund Investors: 60
A caller asked Cramer whether this was a good time to restart a position in Texas Instruments and Cramer didn’t hesitate to say yes.
He suggested that TXN is in a good position for a rebound. But what really caught his attention was the presence of activist investor Elliott Partners. He explained:
“They reported good numbers, and you have an activist in there—Elliott Partners—that can make a lot of things happen. By the way, they’re in Starbucks, and I think they can make a lot of things happen there and in Southwest too.”
Cramer also spoke about the company’s strategic meeting and viewed it as a catalyst, saying:
“I think they’re going to have a very big meeting that’s going to lay out the strategy, and the stock’s going to go up well in advance of that.”
However, the stock has dropped by more than 10% since the program aired in July.
3. Morgan Stanley (NYSE:MS)
Number of Hedge Fund Investors: 56
A caller called in with a strong case for Morgan Stanley, highlighting strategic initiatives, strength in investment banking, and growth in wealth management.
Cramer wholeheartedly agreed. He pointed out that big IPOs and takeover deals drive Morgan Stanley higher, and he expects more of both in the near future, saying:
“When we do pieces about these big IPOs and we get a lot of takeovers, you’re going to see Morgan Stanley go higher and higher and higher.”
His view is that Morgan Stanley remains a strong buy, especially if rate cuts fuel more market activity and he was spot on. The stock has soared by more than 33% since his comments.
2. Bank of America (NYSE:BAC)
Number of Hedge Fund Investors: 102
A caller wanted to know what was going on with Bank of America’s recent pullback and asked about a good entry point. Cramer saw an opportunity and advised the caller:
“You buy some right here. Buy some—maybe if it breaks 40.”
He thought Bank of America was selling too cheaply and remains one of the best-positioned banks to benefit from rate cuts and an improving economy:
“I think this company’s selling very inexpensively, and it’s a good one.”
Jim Cramer’s bullish comments on the banks were pretty accurate. Bank of America also rose by 14% since the program aired in July 2024.
1. Constellation Energy (NASDAQ:CEG)
Number of Hedge Fund Investors: 78
A caller asked whether they should buy more, hold, or sell Constellation Energy. Cramer issued a clear buy on the stock, saying:
“Look, this is a solar play that is a very good company.”
Constellation Energy is one of the largest producers of carbon-free electricity in the U.S., with a strong focus on nuclear, wind, and solar power generation. As demand for renewable energy and grid reliability grows, the company has positioned itself as a leader in the transition to cleaner power sources.
Despite the stock having already soared by that time, Cramer didn’t hide his bullish stance:
“It’s up a huge amount—47% for the year—but I think you can buy some. Please hold on to it. Do not sell it.”
Cramer gave some good advice to the caller, with the stock being up by an additional 83% since July 2024.
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READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article was originally published at Insider Monkey.
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