Mad Money

Cramer Remix: A roaring stock still undervalued

Cramer: This roaring stock is still undervalued
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Cramer: This roaring stock is still undervalued

Here we go again.

Jim Cramer saw that the same rotation of money flowing back and forth struck yet again on Friday. The market sold off the same stocks that it loved yesterday, and then it swings right back.

"This market has to be experiencing the most debilitating rally I have ever seen. We keep going higher, but we go higher with different stocks, a fluctuating, rotating, and most of all confusing leadership that makes it unfathomable on days like today," the "Mad Money" host said.

This also explains the giant rotation of stocks happening, as investors sell domestic groups like retail and restaurants and invest in US stocks with international exposure.

Will retail strike back next week? To find out, Cramer must rely on his game plan, as it is full of retailers.

Monday: Urban Outfitters
This company has been on fire lately as Free the People, Anthropologie and Urban have all been firing on all cylinders. Cramer thinks it is a buy right now at $7 below its high.

Wednesday: Target, Williams-Sonoma, Lowe's, Salesforce.com
Target: This stock has fallen to $78 from $83 recently, which is a great time for investors to benefit from its weakness. Cramer likes Target, and if it stays down here, he recommended that unless it is up big, put half a position in now and half after it reports. Don't chase!

Salesforce.com: With all of the speculation that it is being pursued by another company recently, Cramer just doesn't know what to expect. He has backed this stock and the CEO from the beginning and even though he's taken a lot of heat, he's been right. Thus, he likes this stock because of its vision, not because of a takeover.

Read More Cramer game plan—Will retail strike back next week?

CNBC

Another trend that Cramer saw in the market on Friday was the fact that the world still loves a bargain. As a result, the "Mad Money" loves companies that offer bargains because generally it means the stock is a good deal, too.

This is exactly why Cramer was not surprised at all to see that Netflix flew through the roof on reports that it will move into China with Wasu Media as its partner.

"The darned thing sliced through $600 like a hot knife through butter, and I think it's not done going up," Cramer added.

The fact that it costs only pennies per day for subscribers to use Netflix makes it such a bargain for Cramer. And, considering the amount of original programming it has, he would be willing to pay twice that amount.

Two other companies that also offer amazing bargains to its customers are Amazon and Costco. Cramer is totally addicted to using Amazon Prime, and Costco is the go-to store for Cramer's staples. He would risk the lines just for the money he saves.

This week Cramer has been highlighting the best of the game-changing private companies that have made it on to this year's CNBC Disruptor 50 list of innovative start-ups.

Read More Meet the 2015 CNBC Disruptor 50 companies

No. 45 on that list is DraftKings, which if you like fantasy sports like Cramer does, could be a dream come true for you. It has revolutionized the fantasy sports category by creating a way to legally gamble on the Internet.

DraftKings offers daily fantasy contests across various sporting events, such as basketball, football, hockey, soccer, mixed martial arts, golf and even NASCAR. Individuals pay an entry fee, which can range anywhere from less than $1 to more than $1,000, then draft players and earn various cash prizes.

To find out if DraftKings can continue to reign as king of fantasy sports, Cramer sat down with co-founders Jason Robins and Matt Kalish.

"We always had that entrepreneurial bug, and we were looking for what we could do that would be something that could change the game in sports, and this is what we came up with," Kalish said.

Read More 'Disruptor' DraftKings: The king of fantasy sports

Etsy CEO Chad Dickerson and others celebrate their IPO at the Nasdaq exchange, April 16, 2015.
Getty Images

With so much time spent highlighting some of the best public and private companies out there recently, Cramer thought it would be a good idea to take a look at a few of the high-profile IPOs from the past six weeks.

Specifically, he focused on four huge deals: Bojangles, Etsy, Party City and GoDaddy.

First up is Bojangles, a quick-service restaurant chain that is primarily known for scratch biscuits and fried chicken. It has 622 locations, predominantly in the southern region of the U.S.

"I wouldn't be a buyer here, but I would be willing to pounce if it comes down to the low $20s," Cramer said.

Next up is Etsy, the online marketplace for people to buy and sell unique handmade goods. Unfortunately Cramer sees red flags all over the place for this company, especially with a few things it has said recently about its long-term growth trajectory.

When a company comes public, it is required to list all of the risk factors related to its business in a prospectus. When Cramer read the prospectus, it was just plain scary.

The prospectus stated "we have a history of operating losses and we may not achieve or maintain profitability in the future. We expect that our operating expenses will increase substantially." Yikes!

Cramer does not see a path to profitability here, and given its statements in the prospectus he worries that it doesn't seem to care about profitability. No thanks, he'll pass on this one.

Read More Cramer: Scary or amazing? My take on 4 recent IPOs

Another innovative company that was featured on CNBC's Disruptor 50 list, as No. 33, was Klarna, a fast growing Swedish e-commerce payment facilitator. But it is about so much more than just online payments; its goal is to simplify the entire online checkout process for its customers.

Essentially, online merchants outsource their checkout process to Klarna, which has built a simple and easy-to-use system. With the company as a huge hit in Europe and starting to move into the U.S., can it disrupt the U.S. online payment world as well?

To find out, Cramer spoke with Klarna's North American CEO, Brian Billingsley.

"What we do is take all of the friction out of the online checkout experience, so when you see you have the product yourself and you go to make the purchase and you see these 40 fields—name, address, billing address, mother's maiden name, passwords—we reduce that to a single click," Billingsley said.

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

Bristol-Myers Squibb: "We have been a buyer of Bristol-Myers ever since we started the show. Bristol-Myers remains on the buy list."

Orbital ATK: "Right now Lockheed Martin, and then Orbital ATK, and then Northrup Grumman and then perhaps even Harris Corp. above General Dynamics."

Read MoreLightning Round: This bargain stock goes to $100