Last week, when Cramer spoke with American Airlines' top exec on "Mad Money," he had no idea that the interview would send the entire airline group plummeting the next day. Whoops!
That was exactly what happened when Cramer spoke with American's CEO Doug Parker, who shared his concerns regarding the large amount of capacity being added into the industry by his competitors. Why was he worried? Because excess capacity means bloody competition in the airline industry.
"Some airlines are talking about 8 or 10 percent growth rates. They can't believe they have that kind of demand growth, so what they must believe is that at these economics they can fly more than they used to fly. Look, I don't think that's right," Parker said.
On the same day of the American Airlines interview, Southwest Airlines CFO Tammy Romo confirmed that her airline's capacity would increase by 7 or 8 percent this year. This sent the stock down 9 percent in a single session and it has gone lower since.
Do investors need to be worried about increased capacity, or is this an overreaction to the news? To find out, Cramer spoke with Southwest Airlines CEO Gary Kelly.
"Our competitors are always complaining about Southwest, and we're just going to continue to focus on running a great airline… So our plans have not changed," Kelly said.
Read More Southwest Airlines CEO: Ramping up the competition
Another lesson that Cramer reiterated to investors, is to be careful when investing in a newly public company. Yes, many IPOs can generate some serious cash flow out of the gate, but that doesn't mean the gains will last.
To demonstrate a situation of what can happen with a bad investment on a new company, the "Mad Money" host highlighted Castlight Health.
This cloud-based provider of healthcare related software went public a little over a year ago. Cramer saw serious red flags from the beginning, as the stock was valued at 31 times 2014 numbers. That means it was more expensive than both Salesforce and Workday.
Ultimately, the numbers quickly deteriorated with the company, and the stock was downgraded. In Cramer's opinion, this one was too risky from the start as it was too expensive.
In the Lightning Round, Cramer gave his take on a few callers' favorite stocks:
Under Armour: "I think everyone is worried because it has stalled. It is shaking out of the weak hands, and then it is going to have another move. That's the way it trades, we've got to get used to it. It may not rally instantly, it waits for the next quarter."
Opko Health: "I'm a believer that no one ever got hurt taking a profit. When you're up that much I need you to take out your cost. Take out the house's money and let the rest run. Phil Frost is a genius, we had him on the show, and he's been right and we've been right."
Read MoreLightning Round: May not rally instantly—but just wait