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Cramer Remix: The one cult stock worth owning

After two glorious days in bullish territory, stocks closed sharply loweron Tuesday and the bulls fell right back down. Jim Cramer saw that investors were not worried about the direction of the move—it's the velocity that freaked them out.

"The market's back in selling purgatory because a couple of things are happening, and they are happening too quickly for many investors to comprehend. That doesn't stop them from taking action, though," the "Mad Money" host said.

One thing that is moving way too fast for its own good? Oil.

Investors are panicking now it that it has moved back above $60. Heck, just three months ago, they were in a state of terror thinking about the pending collapse of the oil patch. Now it is the total opposite.

"I mean, how do we know crude won't go right back down by $2 tomorrow when we get the oil inventories report? Has oil become divorced from supply and demand in this country, or will this whole chain of woe just reverse itself tomorrow?"

That is exactly why Cramer is subscribing to Warren Buffett's mindset of not judging stocks on a day-to-day basis. Instead, use the market's gyrations to get good prices on stocks that you like.

Read MoreCramer: Massive unseen change freaking people out

Jim Cramer Mad Money
Source: CNBC

Cramer is always hearing about how a strong dollar is bad news for American companies that do business overseas. But it is important to point out that it can also create opportunities.

For instance, if you are a U.S. company that wants to make an acquisition in Europe, you'll get a steal for a company based on a favorable exchange rate

XPO Logistics is one of the fastest growing providers of transportation and logistics services in North America. Its stock has been on fire lately, as it doubled in the past year.

Last week, it announced that it would be acquiring Norbert Dentressangle, a large European transportation and logistics provider, for about $3.52 billion. Could this deal continue to send the stock even higher? To find out, Cramer spoke with XPO Logistics chairman and CEO Brad Jacobs.

"I'm not in the business of predicting our stock price. I'm in the business of growing the company and making the stock value greater over time," Jacobs said.

Investors on Wall Street are completely enamored with Netflix, Amazon and Tesla right now. And the star-struck fascination is different than any other stock that even Cramer has ever seen before.

These three stocks are the most loved stocks in the market right now—and Cramer totally gets it.

The "Mad Money" host saw the most amazing reversal he has ever seen, when a Bank of America/Merrill Lynch analyst abruptly changed his rating on Netflix to a buy from a sell. The same analyst then changed his price objective to $722 from $350 and took his earnings estimates to $4.32 in 2016 from $1.96. Holy smokes!

And while Cramer thinks the analyst did the right thing by admitting he was wrong, this is a good reminder to investors to stay flexible. Cramer has liked Netflix for ages because he still believes that the company is worth more than it is currently selling for.

Then there is Tesla, which reports on Wednesday. But Cramer still maintains his stance that he hates the stock, but loves the car. He has chosen to stand on the sidelines for this one, as there seems to be just as many people out there who love the stock as those who hate it.

"I remain fascinated by this company and its CEO, Elon Musk, because you have some very keen minds on both sides of the trade," Cramer added.

Ultimately, these three stocks seem to have no boundaries in a market that seems to reverse itself every time it gets anywhere. They define what is hot right now.

Read More Cramer: Market's insane love affair with 3 stocks

Tequila shot
Bhofack2 | Getty Images

What better day to take a closer look at the tequila business than on Cinco de Mayo?

Cramer has an abundance of knowledge on this topic—not because he drinks tequila every night, but because he is one of the owners of Mexican restaurant in Brooklyn that carries 120 different brands of tequila.

One company that is on the "Mad Money" host's radar is Tequila Avión. This is the premium tequila brand that gained popularity after it was featured on the show "Entourage" a few years ago.

Though the company is not publicly traded, last summer Pernod Ricard, the world's second largest wine and spirits company, acquired a majority stake in the company.

Cramer knows that the alcohol business can rake in some serious dough. To learn more about what could be in store for Tequila Avión following its Pernod Ricard acquisition, Cramer spoke with founder and CEO Ken Austin.

The CEO explained that Pernod Richard's majority stake in Avión has been excellent for the company, as it has allowed Austin and his team to continue to run the company. This type of autonomy is a rare circumstance.

"As I say, the lunatics are running the asylum. Total autonomy, so as an entrepreneur I made the right bet in Pernod Ricard versus going somewhere else where they would probably would have tried to throw the entrepreneur out," Austin said.

Cramer has also been watching Ethan Allen Interiors, and can't help but wonder what it will take for the underperforming stock to turn itself around. Ethan Allen is a network of approximately 300 design centers that provide high-quality home décor, design and furniture.

And while the furnishings group is out of style with the Wall Street fashion show, Ethan Allen has been working hard to turn itself around by launching more than 600 new products. Is it enough to turn the stock around?

Cramer sat down with Ethan Allen Chairman and Principal Executive Officer Farooq Kathwari to find out.

"We are in the process of really repositioning and reinventing our brand…because today is a different world. We have been around for 83 years," Kathwari said.

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Qorvo: "Let these stocks come in. They're all for sale right now and when you see Skyworks Solutions bottom, that had the best quarter, that is when you can pull the trigger. Right now, they're up for sale; I do like Skyworks best."

Vodafone: "Vodafone has had quite a run, as has much of Europe. I think the stock has moved a little too much. I don't think there's a lot of value there at 3 percent. I'd rather own AT&T."

Read More Lightning Round: This whole group is for sale