Stocks rallied on Thursday, but Jim Cramer says it wasn't supposed to happen.

The rally after the Brexit sell-off made sense to Cramer. Day two also made sense because of takeover action in the market and a rally in oil. But day three? That was insane.

"This move is outrageous in its audacity, because so few people believed that it should even be allowed to take place," the "Mad Money" host said.

It was one week ago that it was predicted that the U.K. would remain in the EU, and the unexpected result of a Brexit took form. Thus, it was natural that there would be a repositioning of stocks in the market with a surprise that big.

Often when the market is in free-fall, hedge funds will create short positions. When stocks lifted on Tuesday, hedge funds used it to place bets against various companies, Cramer said.

Takeovers changed everything. Short sellers fear only one thing — a buyout. That is exactly what happened with the hotel, entertainment and food bids.

Suddenly out of nowhere — after a Brexit was supposed to create a disaster in the stock market — acquirers came out of the woodwork to spend billions to buy other companies, which crushed the short-sellers.

Ultimately, when investors are scared and hedge funds take action to short stocks, the market can have an explosive reaction when those short-positions go astray.

"That is exactly what happened today, and all I can say is that it is a sight for sore bull's eyes," Cramer said.

The food group has always fascinated Jim Cramer, and it became more heated with Mondelez's bid for Hershey on Thursday.

Food stocks are unique because they have almost no growth, yet continue to be loved by investors. That love can sometimes be tested by dramatic accelerations in the economy.

The group snapped back on Thursday when candy maker Hershey rejected a bid by Mondelez International, a sign that Mondelez was attempting to create growth.

Cramer explained that supermarket aisles are pretty much set in stone. So, unless companies buy one another and rationalize them by firing people and running the product through an already established distribution system, there isn't another way to grow.

Instead, the goal is to spend their way into better supermarket real estate.

"I've said that takeovers will be the backbone of the second half because of the lack of growth. Consider today a gun jump on that move, and a good one for the bulls at that," Cramer said.

With the market approaching the Labor Department's non-farm payroll report for June on Friday next week, a company like Paychex could provide clarity on the state of employment.

Paychex is the second largest payroll processor in the U.S., focusing on small and medium sized businesses, along with a human resources and benefits outsourcing division.

The company reported a strong quarter before the open on Thursday, with higher than expected revenues, along with its payroll and human resource divisions running strong.

Cramer spoke with Paychex's President and CEO Marty Mucci, who explained that each time the government changes its overtime rules, it benefits the company.

"These regulations have not only been great for business, but they have been good for Paychex because we are able to help small businesses grow with all those issues," Mucci said.

Food companies might be looking to grow, but beverage company Constellation Brands was on fire on Thursday after reporting a strong quarter.

Constellation is the world's top producer of premium wines, and the No. 3 brewer in the U.S. with brands such as Corona, Modelo, Pacifico, along with Clos du Bois wines and SVEDKA vodka.

The company posted a 2-cent earnings beat from a $1.52 basis, along with a 19 percent increase in beer sales. Cramer spoke with Constellation's President and CEO Rob Sands on what drove the success in beer sales.

"It's a lot of blocking and tackling, but more importantly I like to always take it back to a simple fact. The consumers voting with their feet," Sands said.

Cramer also likes to take the time to highlight private companies that are at the cutting edge of technological change in the industry.

Informatica is the leading player in data integration, which could be crucial for companies that utilize real-time analytics, or big data. It is no secret that a massive quantity of digital information is changing the way business is done around the world, and a company like Informatica helps to manage it.

The company was previously publicly traded, but last summer it was taken private for $5.3 billion by Pemira Advisors and the Canada Pension Plan Investment Board. Cramer spoke with Informatica's CEO Anil Chakravarthy, who discussed the benefits to being a private company.

"Being a private company has really helped us focus on growth and on innovation," Chakravarthy said.

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

Visa: "Because the class action suit was thrown out, I think it was an incredible overreaction. I told subscribers to actionalertsplus.com, had it not been restricted because I mentioned it, that they should be a buy, buy, buy and I think the stock will bounce tomorrow after a difficult opening."

Sarepta Therapeutics: "This is one of those binary situations where they're either going to be up big or down big."