Everything Jim Cramer said about the stock market on 'Mad Money,' including stock valuations, Canopy Growth vapes, IPO market

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  • Jim Cramer draws parallels between the current market and that of the dot-com era: "You have to be skeptical of markets ... where more and more stocks are valued on something other than earnings."
  • The "Mad Money" host rails on the 2019 class of IPOs and rehashes his feeling that it could do some big damage to the market.
  • He sits down with the CEOs of Canopy Growth and Nutanix, and gets a read on the oil market with an analyst from RBN Energy.

The stock market may be overvalued

Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

Investors ought to be cautious as more and more stocks are being valued based on measures other than the revenue or earnings numbers that their underlying companies produce each quarter, CNBC's warned Monday.

Too many stocks are trading on "nontraditional valuation metrics" that make the market more difficult to ascertain, something that the "Mad Money" host said is reminiscent of an infamous period roughly two decades ago.

"You have to be skeptical of markets, entire markets, where more and more stocks are valued on something other than earnings. This is what happened during the dot-com crash — you had tons of companies that were trading on eyeballs and page clicks," he said. "The more stocks that trade on weird metrics, the more likely it is that the market's overvalued."

Canopy Growth plans to launch vape products in Canada in December, while U.S. deals with health concerns

Mark Zekulin, CEO, Canopy Growth
Scott Mlyn | CNBC

is prepared to launch its collection of vape products later this year in Canada's market, despite the growing number of health concerns over electronic smoking devices in the U.S., CEO Mark Zekulin told CNBC.

"We're ready to launch vape products into Canada and the difference is this is really a regulated environment, so there are rules that will govern the products that we put to market," he said in a sitdown with Cramer. "There are a lot of things, and I think the key part for us is to focus on the Canadian model ... we should be looking to where there's regulations, there's systems in place."

Cramer waves red flag about the IPO market

Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange.
Drew Angerer | Getty Images

"As far as I'm concerned, the IPO market's become a travesty of a mockery of a sham, and it was so predictable," Cramer said. "I've been railing against this for months. ... Now it's here and I think it could do some real damage to the stock market, at least until these deals become so damaging that the investment bankers and their venture capital clients finally throw in the darned towel."

The state of the oil market

Rusty Braziel, CEO of RBN Energy
Adam Jeffery | CNBC

Global shakeups that cause dramatic and sustained spikes in oil prices are, for now, unlikely to occur, oil expert Rusty Braziel told CNBC.

Braziel's remarks on "Mad Money" come a little more than a week after half of Saudi Arabia's oil production was knocked offline in a drone attack. While oil prices , it didn't take long for the price per barrel to retreat from those levels.

"When you look at how much resiliency that there is built into the marketplace, I think most of the market assumes that if prices go up, the U.S. and other countries will respond," said Braziel, president and principal energy markets consultant at RBN Energy.

Going through 'short-term pain' to unlock 'long-term gain'

Dheeraj Pandey, CEO, Nutanix
Scott Mlyn | CNBC

Cramer sits down with Nutanix CEO Dheeraj Pandey to hear how the hybrid-cloud company has updated its business model in the past decade and why the firm is becoming more reliant on subscription services.

Cramer's lightning round

In Cramer's lightning round, the "Mad Money" host zips through his responses to stock questions from viewers.

PayPal: "I think your advisers are actually quite smart and I think PayPal is terrific. [CEO] Dan Schulman is doing a great job. There's a lot of upside if they get it right, and so far they've gotten it very right."

Nextera Energy: "You've got a winner there in NEE. ... I like NEE, it's a good stock."

: "I say buy it."

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