When a company has slow growth, Cramer expects a CEO to whip into action and respond to the challenge with a turnaround plan. IBM, SanDisk, Wal-Mart and Yum Brands are four companies all facing the problem of slowing growth,and they have elected four very different ways to handle it.
That is why Cramer decided to evaluate each turnaround strategy and find out if any of the companies stand a chance to get back into the high-growth game.
Ultimately he found that while all of these strategies to deal with slowing growth are credible, only SanDisk had a quick payoff. The rest are for patient shareholders.
"In many ways it is just better to go with the stocks of companies that never got to this difficult point in the first place," Cramer said.
After all, companies that don't require a turnaround could provide both short and long-term performance in the long run.
Read MoreCramer: Will Yum & SanDisk's turnaround plan work?
With the rotation of stocks happening, Cramer wondered if it is time to start circling back to some of speculative health care stocks that have been absolutely obliterated in recent months. At a certain point, they could represent attractive value.
MiMedx is a small-cap company that is focused on developing regenerative biomaterials. It takes donated human placenta tissue and turns it into skin grafts that can help the body recover from all sorts of wounds resulting from diabetes, military injuries, surgical incisions, burns and even cancer. The company has found that wounds heal 60 percent faster when doctors use placenta-based skin grafts.
After skyrocketing for multiple years, the stock peaked at about $13 a share in July and then has been slammed ever since, down 32 percent from its peak. The stock was hit even harder when the company gave what many investors interpreted as disappointing revenue guidance for the fourth quarter, even though its third-quarter results were robust.
Has the stock been punished enough? To learn more, Cramer spoke with MiMedx Chairman and CEO Pete Petit.
"I think we probably disappointed because we were talking strategic matters in terms of new products, and they were focused on talking about the fourth quarter. We've got 16 straight quarters of beating or exceeding revenue growth," Petit said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Accuray Inc: "Good spec...look when we get into these companies that do these kinds of machine for radiation therapy and radio surgery, I always think of ISRG [Intuitive Surgical], which, by the way, reported a really good number."
Quanta Services: "I didn't like that quarter. I was surprised that they missed. That was just disappointing."
Read MoreLightning Round: I was surprised it was such a miss