When it comes to the time it takes for the market to forgive a company like Wells Fargo for its past transgressions, Jim Cramer says the big bank is not unlike one food chain that also paid its dues.
"My suggestion if you own Wells Fargo, as my charitable trust does? Sorry, but it does take 18 months – kind of Chipotle-like – for the American public to truly forgive. Remember, Wells Fargo's the Chipotle of banking, so don't get too excited because the company's got about a year left in purgatory," the "Mad Money" host explained.
Still, after seeing the stock of Wells Fargo, and a slew of other lesser-known names, rise on Thursday, Cramer was comforted that the rally was broader than many investors seemed to think.
"The rap against this market was that it was all FANG all the time, with a smattering of cloud and some Tesla," Cramer said. Today, the rally got broader, much broader, and that has to make you feel a little more confident that stocks can keep going higher, even after this year's first five months of positive returns."