Jim Cramer believes in fairy tales now—at least when it comes to the stock market. He saw five companies that represented tales of hope on Wednesday that could lead investors to some serious gains if they follow through. One example of a company generating gains was Facebook, which yet again declared itself the king of the Web when it announced stellar earnings.
"Turnarounds are like fairy tales, they rarely come true. Yet today's action was all about the fairy tale turnarounds that look like they could become reality, and the market cheered them," the "Mad Money" host said.
It is a rare occasion when a company can successfully pull off a turnaround but if they do, the payoff can be huge. The extraordinary rate of failure is the exact reason why Wall Street is littered in failed turnarounds from the past.
Just take one look at tech companies that have been pushed aside because of new technology surrounding computers and handsets. Think about Grant's, Radio Shack, Circuit City or Borders, which have all fallen to the wayside.
There were five companies that reported earnings on Wednesday and caught Cramer's eye as being primed for a comeback: McDonald's, Yum! Brands,Coca-Cola, Yahoo and IBM.
"All of these companies have one thing in common: They are hard to kill…I think these can succeed, some more than others, but they all make sense to speculate on, even after they've made pretty big moves," Cramer added.
One stock that went for a nice ride on Wednesday was Six Flags Entertainment. The plummeting price of crude has helped the theme park industry, not only because families now have more cash in their pocket, but because it is now much cheaper to drive for an hour to the closest theme park.
This is why Cramer was not surprised when the largest regional theme park operator in the world reported a stellar quarter on Wednesday. While it had a larger than anticipated loss, the revenues were higher than expected and the number of customers with season passes increased 53 percent year-over-year.
With the summer season around the corner, could this stock roll even higher? To find out, Cramer spoke with Six Flags CEO James Reid-Anderson.
"We had a phenomenal start to the season, with both season pass membership programs kicking in and our sales have been astounding…we are up 53 percent going into the peak season, and I feel very good about that," Reid-Anderson said.
In honor of Earth Day, Cramer thought that this would be the perfect time to take a closer look at opportunities that could be in the works for the green energy space.
In the wake of the massive decline in energy stocks over the last year, the oil patch has battled the decline with consolidations. Such was the case when Halliburton bought Baker Hughes and Royal Dutch Shell announced it would buy BG Group for $70 billion.
The huge decline in the price of oil has not only affected oil plays, though. Cramer has also seen that the alternative energy plays, in particular the wind and solar power stocks, have been hit hard, too.
"I think this group is just as ripe for consolidation as the oil patch, if not more so," the "Mad Money" host said.
Cramer thinks it is too risky to focus on the small players right now, as they could turn out to be takeover targets. The smart way to play the alternative energy space would be to focus on the consolidators. Time and time again, the acquirers have rallied after an M&A deal.
Cramer is a fan of companies that are spinning off the YieldCos, such as SunEdison and First Solar. It is clear that there is a huge transformation occurring in the alternative energy space, and in Cramer's opinion, it's not getting the attention it deserves. These under-the-radar plays often turn out to be the best!
"I think it's time to wake up and do some buying of these green energy consolidators," he said.
Another winner of the day was Ryder System, an under-the-radar play that Cramer thinks could represent big opportunity. Ryder is a fleet management and supply-chain solutions firm that provides vehicle leasing, commercial rental, contract maintenance and fleet support services.
This stock is up 21 percent in the past year and has more than doubled in the past three years. Cramer thinks it could even have more room to run, as it is still inexpensive, trading at just 13 times forward earnings.
Ryder's efforts have paid off on Earth Day, as it has managed to strengthen its position in the world of environmentally friendly vehicles by deploying fuel-efficient fleets. Cramer spoke with Ryder System CEO Robert Sanchez to feel out the company's direction.
"More regulation, more complexity and more technology is really good for Ryder, because making it more complex means companies are more likely to outsource. As of now, only about 10 percent of companies have outsourced those activities so we have a very large market to penetrate," Sanchez said.
Cramer wants to take a moment and give investors a big reality check when it comes to Chipotle. The stock was slammed on Wednesday after it reported earnings because of the same two issues that have plagued it all year: pork shortage and a future of tough comps.
But was the market right to burn Chipotle as bad as it did?
Cramer suspects that many investors thought that the company's pork problem would be easily solved, which explains why the stock ran into the quarter. So, when they heard that Chipotle's same-store sales were only at 10.4 percent and expected to slow, the worry transferred to the stock.
"I say the problem is with the stock, not the company, because there is really nothing new here," the "Mad Money" host said.
Read More Cramer—Holy guacamole! Will Chipotle sizzle again?
In the Lightning Round, Cramer gave his take on a few caller favorites:
SolarCity: "This stock is a hold for me, because I prefer First Solar or SunEdison. I've been out there pushing those others, and they have been very right."
Alibaba: "My way to play Alibaba has been consistent. I like owning Yahoo, and I am not deterred by last night's quarter."