Cramer knows no one wants to hear it, but investors shouldn't get caught up in valuations when it comes to an unseasoned initial public offering like Snap.
When a company goes public, often it will hold back stock. In Snap's case, it came public with 200 million shares that trade, and has 1.2 billion that aren't public yet. Thus, the 200 million shares are what's determining the company's $40 billion valuation right now.
"As long as that is the case, we cannot draw real conclusions about what the company might be worth. Once we get the float expanded, and we learn how much advertising love there is for Snap's daily average users, then we will need to think about valuation," he said.
Until then, Cramer warned that investors will drive themselves crazy trying to be rigorous about something where rigor doesn't apply.
Next Friday, Cramer will have his eyes glued to the Labor Department's non-farm payroll report, because a strong number will encourage the Federal Reserve to raise interest rates.
It will be the most important day of the week, and Cramer wants to see a strong jobs number.
"So many financials have rallied so hard in anticipation of a March rate hike that if we get the kind of weak number that might discourage the Fed from taking action, it could cause these stocks to get slammed," Cramer said.
At one time, the market feared a series of rate hikes from the Fed. Investors now welcome it because there is confidence that the economy can handle it. As long as the global economy continues to improve and U.S. hiring is strong, Cramer said higher rates are vital.
In fact, if the Fed doesn't tighten, the market would likely react negatively, Cramer said. Partially because the banks need higher rates to make money, and also because it would imply that Fed Chief Janet Yellen knows something about potential problems that might be lurking.
Online travel stocks have been heating up this year, thanks to the fabulous resurgence of airlines. So now that Expedia, Priceline and TripAdvisor have all reported, Cramer looked at the results and crowned one the king.
"Priceline is still the top doc, Expedia is improving but it still comes in second, and TripAdvisor is a distant and untouchable third place," Cramer said.
Priceline's guidance did seem conservative, but Cramer said that is what they do. They are the masters of under promising so that it can deliver down the road.
Private company Peloton hit the fitness industry by storm in 2012 with its unique niche as a purveyor of stationary at-home bikes. It streams 12 hours of live cycling classes, and connects riders with more than 4,000 on-demand classes.
Just five years later, the company now has over 200,000 riders around the world, and zero competition.
However, co-founder and CEO John Foley told Cramer that he expects the competition to come rolling in. The term "peloton" refers to a group of cyclists that ride closely together to save energy.
"Right now there is no competition. Peloton is the only game in town. But because it is so good, because it is so coveted, because the consumers love it, we expect competition to come from all angles," Foley said.
In the Lightning Round, Cramer gave his take on a few caller stocks:
Chicago Bridge & Iron: "I think it's OK. Fluor, CBI, these are inconsistent companies. You're not going to get me to really bite on these. We like that MasTec, we thought that interesting as a better play. Emcor, too."
Mobileye: "Way too inconsistent. I don't want retirement money in that stock. No way. No how."