Cramer Remix—What no one wants to hear on Chipotle
Jim Cramer knows that buying Chipotle isn't the popular move right now — but he is willing to take a leap of faith on it.
The company reported a quarter that disappointed Wall Street, especially considering that many analysts thought that the return of popular carnitas would accelerate same-store sales growth. Instead, they got an anemic 2 percent growth.
And while most investors were grilling Chipotle's stock, Cramer thought it might actually be worth owning.
"I think that when you look back, you'll find that you are getting a chance to buy the stock of the best company in the industry at a new trough if you simply wait a few weeks for the dust to settle," Cramer said.
Cramer can finally see a clear formula of what is working and what is not right now. The secret to finding it? Have a short attention span, because what is hot one day is not the next. The stock rotation Cramer sees happening has produced one of the scariest declines he has ever seen.
"It is fascinating to watch this formula play out because it is so ephemeral. In other words, it makes sense, but only for a few days before the market loses interest and moves on to something else," the "Mad Money" host said.
For weeks, this market absolutely hated industrials. It hated them so much that the stocks actually became oversold. Then out of nowhere, the big portfolio managers who determine stock prices suddenly had a bullish view on them in a blink of an eye.
What the heck happened?
"I think the money that is coming into the industrials is cascading out of health care," Cramer said. (Tweet this)
Cramer's breath was taken away with the Valeant sell-off on Wednesday, too, after a short-selling research firm compared it to Enron. At one point the stock shed about 60 points from its $150 price, before it rebounded to close at an astounding price of $118.
"It was one of the scariest declines I have seen in my 35 years of investing," Cramer said. (Tweet this)
Read More Cramer: Scariest decline I've seen in 35 years
After spending the last couple years in the dog house, Cramer thinks Tupperware has finally gotten its mojo back.
Tupperware, that iconic direct sales company behind all of the nifty containers and personal care products, is a major international player with a significant amount of emerging market exposure.
But now it seems that Tupperware has finally adjusted to the foreign exchange issue; it reported stellar numbers Wednesday morning, delivering an 8-cent earnings beat and higher-than-expected revenues on a local currency basis.
As a result, the stock roared more than 8 percent on Wednesday. To find out the secret to its success, Cramer spoke with Tupperware Brands Chairman and CEO Rick Goings.
"We have an attitude that every business model works until it doesn't. So, it just shows that our guys just keep leaning into it, and things came together this quarter and it was nice to see," Goings said.
One of this year's most heavily anticipated initial public offerings launched Wednesday, and its stock price was off to the races. Ferrari, the highest of the high-end luxury sports car makers, came public, and investors were excited to be able to scoop up shares of such an iconic franchise for the first time.
However, that excitement brought a warning from Cramer.
"Before you buy this stock simply because you are in love with the company's beautiful cars, which can cost as much as a decent sized house, I think it is worth taking a look under the hood in order to figure out what you're really getting when you buy shares of Ferrari," the "Mad Money" host said. (Tweet this)
The main reason that Cramer is not a fan of Ferrari's stock is the valuation. At its current price of $55, Ferrari has a market capitalization of $10.5 billion and trades at 31 times last year's earnings.
No matter how amazing the product is, Cramer simply cannot get behind a stock at these valuation levels. They are exorbitant given the company's slow growth rate. That doesn't mean the stock can't go higher, it just means that it is too darned risky for Cramer.
Read More Cramer on Ferrari—It could run over your portfolio
It was clear to Cramer that the gigantic German enterprise software company SAP is undergoing a serious transformation when it preannounced some phenomenal numbers last week. On Tuesday it also suggested that it might outrun its full-year guidance, which made it clear that the strength is turning SAP into a major player in cloud.
Concur Technologies is one of the strong driving forces behind the transformation, as the leading purveyor of cloud-based corporate travel and expense management software. SAP acquired Concur for $8.2 billion in December last year, making SAP the No. 2 largest player in the cloud by revenue.
In order to get a better sense of this transformation, Cramer spoke with Steve Singh, the CEO of Concur and member of SAP's global managing board.
"We were growing at fast rates even before becoming a part of SAP, but what has been really amazing is every single quarter since then we have grown at even faster accelerating growth rates every quarter," Singh said.
In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:
Sprint: "I don't care for Sprint here because I like well-capitalized companies like Verizon and AT&T here or I like the faster grower T-Mobile. So there is no reason to put my name on Sprint here."
Micron Technology: "Micron went down because Intel announced it was moving aggressively into flash. This is now a stock that is trying to bottom and is not going to be able to succeed I don't think."
Read MoreLightning Round: It's trying to bottom & won't succeed