Cramer Remix: A stock star has been born

Cramer: A stock star has been born

There is one simple reason why stocks hit ridiculous levels on Wednesday, and Jim Cramer is ready to educate Cramerica on what happened. This one group of traders lurks out there, betting against the market, and nonprofessional investors who own stocks don't necessarily even know they exist. This same group has managed to take down a star studded stock like Alcoa, too.

Sure, most investors understand that when a company beats the sales and earnings expectations, analysts will raise their estimates, which could create more buying and therefore lead to a higher stock price.

And yes, they understand a company being broken up into pieces can also lead to higher prices, simply because individual companies are easier to understand than a big conglomerate with multiple business streams.

And, of course they know that activist calling on the business can also shake up the boardroom and pressure better stock results.

But, did you know there is something else that can drive a stock higher?

"Panicking short-sellers who bet against the stocks of companies that you own and then have to go buy those stocks back in order to stem their losses," the "Mad Money" host said.

Sometimes these short-sellers think that an event will turn out badly and bet against it. Then, when the event doesn't go bad or the real sellers don't dump their stocks, the stock starts going higher and higher. When the short-sellers can't take the pain anymore, they buy it back to cover their short position.

That was exactly what happened on Wednesday. In Cramer's perspective, some of the biggest moves on the market were caused by short-sellers.

Read More Cramer: The secret traders driving stocks higher

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It is a very rare occasion when Cramer's breath is taken away by the beauty of a conference call. But in his opinion, a star was born last week, and most people didn't even notice.

That star was Alcoa, and the new vision that CEO Klaus Kleinfeld shared on his eloquent conference call when it reported last Wednesday. Unfortunately, after the conference call, the long-term positives were ignored and the short-term negatives were under the spotlight.

Ever since Kleinfeld took over Alcoa in 2008, he has been working furiously to reinvent the company. Back then, it had a reputation of being a high-priced producer of aluminum with very little value-added product. Cramer compared it to how a copper company is thought of now—just a hostage to global economic growth.

Cramer used to consider this stock the quintessential uninvestable stock. When Kleinfeld set out to win over portfolio managers around the world, he had two problems on his hands.

Since then, Alcoa has managed to pull off a miraculous recovery. Kleinfeld chose to close the old, expensive facilities to improve costs. He then acquired three different companies to position the company to the aerospace business, rather than to the pace of global growth.

All of these innovations and changes occurred before the close of its most recent acquisition of RTI International Metals. So then why is the stock down 13 percent for the year? According to the "Mad Money" host, it will be another six months before people begin to see the new Alcoa.

"Most don't know about the new Alcoa until it gets this next quarter under its belt. But others, big money, will anticipate the move and accumulate the stock slowly underneath current prices."

Cramer thinks investors should join the big boys, and get in with half a position and then wait. Patience pays off, and just wait and see what happens in the next quarter when Alcoa's star shines bright.

Read More Cramer: Big money about to flow into this stock

Cramer also has the inside scoop on a solution to the antitrust charges filed by the European Commission against Google. It should just play ball! As long as it is not too late for Google, Cramer thinks if they go in with the bat swinging it could go a long way.

The European Union filed charges against Google, stating the tech giant has abused its position of dominance. Cramer doesn't take these charges lightly, as Google could face a fine of up to $6 billion.

"Right now, I feel that Google doesn't seem to comprehend the threat to its core business, as almost half of its revenues come from overseas, and a large part of that is from Europe," the "Mad Money" host said.

So what does Google need to do to get itself out of hot water with Europe?

Cramer recommended that it take a page straight from Cisco's playbook. A few months ago, Cisco CEO John Chambers spent time with various heads of state to ask how Cisco could contribute to the digitization of Europe.

Chambers then invested $100 million into French start-ups and worked with the French government to educate some 200,000 people for network infrastructure jobs to participate in the digitization.

Did anyone accuse Cisco of market dominance in Europe? Nope! Instead it has been celebrated for supporting France and creating jobs.

Read More Cramer—Google must play ball with Europe...or else

European Competition Commissioner Margrethe Vestager speaks during a news conference at the EU Commission headquarters in Brussels, April 15, 2015.
Francois Lenoir | Reuters

And now that spring has officially arrived, Cramer thought it would be a good time to do a little housekeeping. He decided to catch up on some homework, and circle back to the questions from callers that stumped him the first time around.

On Jan. 27, a caller asked about Pembina Pipeline. This is a Canadian pipeline company that owns pipe for regular oil, heavy crude, oil sands and operates a natural gas business in both the U.S. and Canada.

"I'm willing to bless taking a position in Pembina here, I think it's a good one, but if you like this stock, you should love Kinder Morgan Inc," Cramer said.

Next up was Springleaf Holdings, which a caller asked about back on March 11. Cramer knew the company had just made a transformative acquisition, and he wanted to investigate further before providing a verdict.

Springleaf is a consumer lender that dates all the way back to the 1920s. It had some hard times in the wake of the financial crisis, when it was called American General Finance and was taken private by Fortress in 2010. In 2011. it went public again, under the name Springleaf and has more than doubled in price since its IPO price of $17.

On March 3, it bought OneMain Financial Holdings from Citigroup for $4.25 billion, which would essentially double the size of Springleaf.

"If you owned Springleaf before the deal was announced, feel free to ring the register and go buy yourself a cashmere sweater. I think there's going to be major transaction related noise for some time, which could limit your upside going forward," Cramer added.

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

Fiat Chrysler Automobiles: "No, we own it for earnings. Why? Because that Jeep is taking China by storm and I like the way the CEO is handling it. This one is undervalued. It may actually be best-in-show...I really like the idea."

Dupont Fabros Technology: "This is a real estate investment trust with a 5 percent yield, I like this one even more at this point because I like income."

Read MoreLightning Round: An undervalued best in show stock