Transcripts For CNBC Mad Money 20240713

Me jimcramer. I have to be honest with you, we could be on the verge of a depression, not a recession, a depression if things dont go right. Worst monthly report since 2009. 700,000 jobs lost and that doesnt even cover the last two weeks where we had 10 million jobless claims the bad numbers are just beginning, which is why the averages got hit today, dow losing 361, s p 3. 1 , nasdaq falling. It could have been worse earlier in the day, it was bad this is going to be a brutal period if we handle things right, it will be a short depression i would call it a decession or a repression but the first sounds silly and we dont want a repression can we have a mini depression . Were in unchartered waters. I hope so. Still, i think were making Real Progress in the economic front today, Small Businesses applied for hundreds of billions of dollars in loans that will allow them to stay open in a tough period and the government will forgive those loans if you pay your workers full disclosure i applied for it myself for my two restaurants today. Banks are furiously trying to process these requests i celebrate this plan as the best it can be, and the Community Banks are signing up people in incredible numbers i want to make this right here, do i ever make this a grumble free zone for a moment grumble free about a plan done too fast for banks but fast enough to give hope to a beleaguered nation of businesses and workers represented by 85 of the economy here is the problem. As much as i love the government is keeping businesses on life support through a difficult period, the other day, no customers. Is it difficult to maintain a business with no customers tough call im going to try even with government assistance its not worth trying to stay open or, in my case, you know, were closed they made us close however, the program is generous enough that in most cases its worth taking the money, trust me its a big task to deal for Small Businesses, you should absolutely apply for one of these loans if youre watching and part of this definitely go for the grant part if you have any desire to keep your Company Going until the pandemic is over and things go back to normal, look into this go to the Community Bank go to the bank of america. I just this is going to take some intestinal fortitude, which is in short supply and this plan helps. I cant blame anyone for wanting to throw in the towel. Stocks the truth is, we arent testing enough people, we arent obeying the stayathome orders as religiously as we should worst of all, the virus is just terrifying, until we get a vaccine or drug that alleviates the symptoms, we cant truly beat this thing. We need the government to keep the economy in suspended animation until theres a real solution the best we can hope is to line up another program on the 2. 2 trillion package Congress Passed last week i spoke to nancy pelosi this morning. Safe and sound 30year treasury bond set at 2 to crush covid, money that could be spent literally paying people, stay in your homes total month lockdown lockdown stay in your home. Here is some money each household would get a monthly script, 1500 if you qualify, it comes in the form of a ticket if you go outside for something nonessential, Law Enforcement catches you, you get a hole punched in your ticket in the meantime the government will pay your rent or your mortgage or your Health Insurance until the lockdown month is over. Is that too much to ask . Thats how well win we use that month to roll out testing sites everywhere then when the month is over, well have the virus contained i know this would be very expensive, but long term i think it will be a lot cheap eer to te the hit up front lo monthlong lockdown, uncle sam has you covered theyll well get back to a normal situation much sooner. Grumble free zone. Without a national lockdown, which is exactly what dr. Fauci wants and hes our hero. People will cant afford to stay home. Virus will just keep spreading if you keep going out. People keep going out. With that in mind, lets go to the game plan for next week. Its a light week ending with market being closed on good friday monday is all about the covid numbers. Mainly the new infections and, yes, new fatalities. We have followed Scott Gottleib on twitter youll know everything on monday we know the numbers will be horrendous i think these numbers will color trading as we wait to hear about bending of the curve that doesnt seem to be within reach any time soon. Lots of people still dont take it seriously that attitude is starting to kill people. Money will flow out of the stock market were undergoing a wholesale because business will be softer than anyone expects. The only good numbers will be the applications for the Payroll Protection Program we want them to be so big that it overwhelms the program and Congress Needs to appropriate even more money. Why is that good it shows confidence. It would show us that businesses are willing to tough things out rather than just bailing as we head into a mini depression. Why even bother to own stocks if the economy is about to get incredibly ugly, this mini depression will end once we get a vaccine or powerful antiviral. Once that happens im betting on what we call a v recovery, okay . A vshaped recovery. You dont know when youre going to get to this you buy on the way down. We already got this part one buy on the way down so you can capture the furious bull market of the v remember, i always recommend gradually. You dont know if the v is here and were only right here. I cant tell you yet this is about sieps. This is science. And im about stocks back to the game plan. Le levi strauss reports on tuesday. Earlier in the week, a good story about calvin klein but it didnt matter because the stores that carry its merchandise are all closed now levi is pretty much the same i saw the ceo during the super bowl stock was double the price great company. Doesnt matter mortgage applications, home buying has been a real engine of the old economy. I bet these numbers collapse how are you supposed to buy a house if you cant visit the property virtual. Get the virus contained, youll see a horrendous number. Its going to cause things to go down again thursday, a report i never would imagine would be controversial, wd40, loveable and reliable lubricant company, disappointing quarter. These short sellers. Its tough owning stock these days, short seller with a very long brief very negative. You want to buy wd40 wait until we see what management says first. No need to court danger. Mercifully on friday, they got the day off. Maybe we can regroup its a treacherous time. I still anticipate the market will retest and were not there. Were not there yet because of this the bottom line. Once again, i have to emphasize this is mainly a Public Health crisis that morphed into an economic crisis. The only way to get back to normal is defeating this plague, which is why the government needs to go all out until it does drew in minnesota. Drew caller booyah, jim. Booyah, drew. Caller i want to hear your thoughts on twitter. I read the goldman upgrade today. I think it makes a lot of sense. I think the stock is cheap however, let me say, stocks are not going to bottom when we have this tremendous s p selling every single day so if you want to buy twitter, buy and sell under 20. Rick in utah, rick sf caller jim, thanks for taking my call. Youre welcome. Caller i currently own stock and with at t being over 7 , it looks very attractive to add more at t stock to my position my question is, do you think at t is going to be able to keep paying that dividend a very negative report out today, and theyre a very good firm i read the report. It did say that the dividend could be in question the company has disagreed with that when i read that, it made me say oh, my are we reaching for yield . I dont like to reach for yield. You can follow along what we do by being a member of my club, the cramer club. We own verizon safer. Giovanni in michigan giovanni caller hello i have a question for you. Absolutely. Caller booyah, jimmy just a sec. Who is this young woman . The boy is giovanni . I thought the dad was giovanni what have you got . Caller my question for you, jim, is do you think the stock is a buy or sell in the market giovanni is a young person. A young person shut bet with elon musk. And those numbers were good. By the way, the numbers come out immediately and the bears say its another idiot, blah, blah, blah all i can tell you is i think the guy is real. We changed our mind, started liking it, goes back down. Im a believer i wouldnt leave her how about giovanni isnt that great william in new york, please. William . Caller hey, booyah, jim. Booyah, william. I just saw i have america, its been up and down the last few days how do you feel about this company . No, no, no. Put those in the same sentence weve got robert ford now new ceo at miles white dont put abbott labs in the it is too inexpensive. I like the stock yours is too speculative for me. Anyway, its a treacherous time we may be headed into a mini depression, a depression, but it will end it ends because this is a biological problem, not a financial one, but its become a financial one. With news that corona beer is halting production because of the coronavirus, wondering whats ahead for consolation brands, ive got the ceo by the way, theyve got plenty of beer, dont worry about it. Is it possible to find any stocks with no hair on them . Ill give you my take. And looking for undertheradar play on the stayathome economy ive got one for you and ill reveal it. So stay with cramer. Announcer dont miss a second of mad money. Follow jimcramer on twitter have a question . Tweet cramer, madtweets send jim an email to madmon madmoney cnbc. Com or give us a call at 800743cnbc mi sssomething head to madmoney. Cnbc. Com. We cannot do all the good that the world needs. But right now, the world needs all the good that we can do. To everyone working to keep america strong, thank you. Mom look take something that can wipe you out . Or dont, and fight through every second. New quickdissolve nurtec™ can bring you back when migraines attack. Just one dose can work fast and last so you can keep going. Dont take if allergic to nurtec. The most common side effect was nausea. Nurtec one migraine. One dose. Onederful™ but right now, the world needs all the good that we can do. To everyone working to keep america strong, thank you. Okay how bad will the lockdown be for pacifico and the inapartly named corona, liquor brands have seen the stock plummet from 2. 10 to 1. 32 that makes sense, bars and restaurants are now closed same time mass of surge in consumer alcohol sales because how else are you going to cope with this lockdown the actual results were phenomenal this morning. Period ending february, a monster 32 cents earnings beat off a 1. 64 basis, 6 beer beer sales did particularly well management declined to provide Forward Guidance because we have no idea how long the lockdown will ask later rallied in the afternoon after the comp scores were completed and managed to end positive in a really bad day we need more context here. Terrific ceo of consolation brands, how the company is holding up in a coronavirus world. Welcome back to mad money. Thank you good to be here, jim. Ive got to tell you, bill, i read through the quarter and the quarter was downright remarkable and what was really incredible to me was there was a lot of people who said, you know what the beer story is over im starting to believe that the beer story is just beginning, because the times are stuff. I think thats accurate you know, one of the things you always see in tough times and recessionary times is people buy the brands that they trust and when you think about modelo, corona, naomi and crawford, we have a lot of brands people trust and thats what they go to in tough times like this. Can you explain for people what happens in terms of athome versus bars and restaurants that are closed because it seems to me that people will drink beer wherever they are. Right you see a lot of channel shift you see this in many recessionary environments. This one, admittedly, is a bit unchartered because one piece is really closed, but and you do see channel shifting and you see people buying more and you see them consuming it at home. And given that 85 to 90 of our business across all three sectors is done in the offpremise, it works to our advantage to some degree. When i was going over the quarter, if it had not been for this tweet about essential, nonessential, i think the stock would have been up 10 points, maybe even 15. Really bad day for the market. Can you explain what it means deemed essential versus nonessential and the fact that you have enough beer on hand that we shouldnt even be thinking about this yet . No, you shouldnt be. We have over 70 days on hand between our dcs and our distributors in this country, in canada and likely in mexico, you see certain things deemed essential. In this country, alcoholic beverage is deemed essential and so the opportunity to continue to sell and to meet consumer demand is there we have the supply to do it. Now, two exciting things. We now have the spice seltzer. How is that going . Do you have a little read . Oh, yeah. Its off to a great start. Acd approaching 50 in the first month, which given there were challenges at retailers. Velocity is going very well. Thats improving week to week. Were very excited about the success of seltzer so far. And then the other your canopy drink, i guess we cant get that here, right not yet. But the edibles and the drinks, how are they selling it looks like you were exactly what we thought, the last man standing nobody else really has any money in that business except for you now. Right were well capitalized at canopy ive got to tell you, i was up there six weeks ago, and we tasted through the beverages, and i think theyre Game Changers they were outstanding. Having been in this business a fair amount of time i think i have a reasonable palate they are superb and will make a big difference for canopy going forward. Enlighten us in this. I was always worried whats the proof . How many can you have . Whats it like do people drink it at home im worried that, frankly, i dont know how much it would take, do i drink five and im buzzed how does it work this is where brands are going to matter. And this is why the work that were doing is all around the branding people want to have trust. Its the same thing i said about modelo and corona. People trust those brands. Theyre going to want to have trust in brands that they consume in the Cannabis Space as well canopy will bring that capability and that bank roll to be able to talk to consumers about why these are exceptional beverages and why you can get a consistent experience time after time. You got a new ceo there hes a person we all know. Hes a business person how is he making that into a real business now . Hes bringing focus and discipline, which admittedly was one of the real things that was required there so, were very pleased with what he has done so far he is focused on getting canada to profitability hes focused on getting to cash flow positive. And we couldnt be happier with the start that david has had there. And, as you said, he is an excellent businessperson and we think that that is going to he is going to be a great leader for that business going forward. He used to be the cfo of canopy and he is a fantastic businessperson, which is what that industry needs. Dont have a lot of them here just in a couple of things modelo special out of nowhere, number four brand . It is you think about places like california it is bigger than the next two premium domestic light brands combined its a huge brand in many critical markets its number one in chicago its number one in the state of nevada this brand is just scratching the surface, considering that it is the number four brand overall in the united states. And then corona premier out of nowhere second year were up 19 its done extremely well again and it really meets that betterment proposition that a lot of consumers are engaged with today you think about it its low car bchb, low cal this is what people are looking for. It fits in a perfect niche with a brand they trust in corona. Debt pay down at one point billion for fiscal year 20 still giving able to pay down a lot of it the cash flow is still great, right we had our best year ever in cash flow. As you know, when you play in the premium end of the business, youre playing in the growth end, plus in the higher margin end. Right, right. A great cash flow and allows us to pay down our debt. Last question but why do companies have to give guidance . Theres no way you know whats going to happen. You got your business. You put your nose to the grind stone and then why do we have to focus on some forecast when they would be depending on some doctor who solves the problem here thats right. When you look at our march, our march has been superb, but some of that, obviously, is pantry loading. And you dont really know where its going to land we viewed it as risky to say too much because we studied this very carefully we know what happens in recessions but its unchartered waters and we felt rather than giving something that we had less than perfect confidence in, we would be better off giving guidance later when we had a much better understanding of how things are going to work out. I appreciate you coming on. I wish it hadnt been such a bad day. This stupid tweet. What matters to me is that you were building the base for a recession stock. Were recession resistant. You sure are. Thats good for our category. Stay safe. President and ceo of consolation brands sdz its what you buy when youre going into a recession mad money is back. We cannot do all the good that the world needs. But right now, the world needs all the good that we can do. To everyone working to keep america strong, thank you. But right now, the world needs all the good that we can do. To everyone working to keep america strong, thank you. Its getting harder and harder to find stocks with no hair on them when a stock has hair on it, its not like this its like finding a hair in your suit something is very wrong. You didnt anticipate. I dont mean the obvious losers. Retailer, smash restaurant, stock and cap, macys, you knew what you were getting into sorry. No im talking about johnson johnson. Thats a classic recession stock and longtime cramer, changing isnt the best pipeline in the industry, not to mention future play Balance Sheets on earth this is exactly the stock you would work during a slowdown except not this time see, this time theres some hair on it. J j has a decision that sells knee replacements. Every hospital bed taken up by coronavirus patients needs to hold off on that kind of surgery. With the stocks 20 down from the high, you know, we should buy more theres always some big shareholder out there who hasnt even heard yet that they have something involved with knees and elective surgery, and theyre eager to write off j j as a bad business because of the subpar orders in replacements. Same thing happened with coca cola i always felt, always, this was the only recessionproof stock that could put a dent in their earnings we should be used to this by now but theres always someone who doesnt seem to know that stocks sells at 21 times earnings and they might have an openended spending problem i ran into the same problem with one of my faves. You follow along fantastic dividend avi is acquiring allergan. Great business long term, but right now doctors are loath to do nonessential procedures which includes cosmetic surgery and botox. Wrinkles or crows feet for the duration there are worse hardships but its putting a wrinkle in abbvies numbers big breakup merger with raytheon i heard someone on the street this morning ever since the initial coronavirus outbreak in china, the division has been an albatross around its neck. Now United Technologies and raytheon have emerged giving you premium space and defense contract unfortunately thats not as great as it used to be because aerospace is a bear market now air conditioning business that had been so red hot when there was a lot of construction. Theres not a lot of construction the year of covid suddenly otis is the one division i like because its focused on china. Now that theyve beaten covid they have the strongest economy in the world, save maybe taiwan. Its insane. Finally, the recessionproof stock that i think the world of. And im talking about mccormick. Yes, the spice and seasonings maker. Theyre thriving because so many people are cooking at home remember, people are staying home doing their work. Mccormick gets a quarter of its sales from food service and food supply they give it to restaurants. Youve seen their stuff. Fortunately stayathome story is so fabulous for the consumer business that it more than makes up for the commercial weakness thats why mccormick is a terrific story only problem is theres always some schmoe who doesnt know about the commercial exposure. Now theyve been immunized against those worries. In one of these down drafts do you know what were going to get next week . I would be a buyer. David in new jersey. David . Caller hey, jim. Booyah from the jersey shore. Oh, man i miss Point Pleasant. Caller yeah. Well, they closed the beaches anyway. I know. Yeah, i want to go down to ocean grove with my daughter but i cant see my daughter because were all on lockdown separately from each other. This is crazy. Caller maybe youll have some time to read a couple of your books i have on the shelf now. Thank you, sir. Whats going on . Caller yeah. So im looking for some accidental high yielders and i came across walgreens wba. They have a pretty good dividend theyve got a pretty good Earnings Report and theyre trading at year lows im wondering if thats pretty good. David, im going to save you some trouble, just in case i ever see you at jenkins there in Point Pleasant they had a really bad last half of the quarter i think the next quarter is going to be bad. People arent going to the stores stay away from walgreens if you want yield that is not the way i want to get it at wba. But thank you for the kind words and buying the books robert in california, robert. Caller booyah, cramer. My question is as we know, lots of people are working on the Covid Vaccine and treatments, including gilead and abbott labs how much is already priced into some of these names and which one would be the better trade . I will tell you im hearing things good anecdotally about gilead abbott is fantastic because of the test but they need to ramp that test up more from 50,000. Gilead and regeneron was the bestperforming stock in the s p. I will still endorse gilead. I think there will be good nes. S its not going to knock out the thing but some good news gary in texas, gary . Caller hey, jim. Like everybody else, i was a little unnerved by this viral earthquake. Who is . Caller im hanging in there. Im afraid its going to be followed by an economic tsunami. I ended up liquidating everything i had it all on shopify which i loved because of you picked it up 15 months ago and sold over 400. But anyway im anxious to get back in, but i still foresee more bad news than good news in the near future. You know, i think someone famous is going to die or unfortunately the death rate is going to hit 10,000 or 20,000 and so my question to you is, i know youre going to tell me when i get back in to do it in stages, but the tip i want is when to look for the first stage to start getting back. Great question. Here is the issue. You know, i do like shopify so much i was telling people yesterday, the big sell two days ago when they pulled their guidance, this is ridiculous. The stock is only down 10 , its at 41 billion at market cap we started liking it at 20 billion in market cap. How about we split the difference when it gets to 30 billion, we pound the table. If you were to buy something when were going to be down next week, yes, and its right i like to build it in the pyramid fashion i would get started. Shopify is one of the greatest companies on earth, a big hit for us all right. Its getting harder to find stocks with no hair on them, but those are these are a few that you could consider buying and i think theyre going to work with raytheon technologies, its the otis division thats independent that i like. Exclusive with a company flying under the radar, new stayathome reality ill reveal the name then as one of the First Communities to experience devastation of coronavirus, seattle seems to be emerging as one of the first localities to offer a plan ive got the exclusive from the man who is trying to figure out whats needed most in the emerald city. Rapid fire, tonights edition of the lightning round so, stay with cramer here is the question we know to avoid the obvious losers from shelter in place and we notice with the obvious winners, companies that make the most money when were on lockdown what about the companies in the middle Zebra Technologies, which creates endtoend solutions to allow its customers to keep track of people, equipment and data on one hand, zeeba is an important kog in the logistics machine. In theory, they should benefit from the ecommerce that makes the stayathome economy possible f retailers could only operate online this is a great time to upgrade their infrastructure cars and trucks may remain parked if plants close, thats also bad for business here is the thing. Zebra stock has prunged from 252 to 178. I have to wonder maybe the negative is starting to get priced in. Anders gustafson, how to get a better read on how the company is holding up and how the Current Crisis could change the way we manage our supply chains. Anders, welcome back to mad money. Thank you how are you . I dont know, man im kind of glad its the end of the week, ill tell you that much anders, lets get right to it. If i am a gigantic ecommerce company, i know that a lot of my stores are closed, but i am crushing it in ecommerce. Ive got huge warehouses, figure out where everything goes. I have to time it right. I have to get u. P. S. In there, the post office in there what does Zebra Technologies do for me to make it work first, you know, we supply or support many other companies that are providing essential services to the economy today. So, that could be ecommerce players and regular brick and mortar retailers that have seen ecommerce or online only channels improve the biggest change in buying behaviors from a retail perspective, i think, has been around grocery where, you know, theres been a lot of reporting around how grocery volumes are up quite a bit, but the way people have been buying those groceries have changed quite dramatically, where people are buying online, picking up in store, picking up at curbside. That has grown exponentially. I think people dont understand that the right box, the right thing comes to you because of zebra. Yeah. No, we help, you know, retailers, brick and mortar retailers to make sure their supply chain or merchandise can be stocked, supply chains keep flowing and shelves are stocked as well as making sure that they can scale these new online channel buying behaviors properly. Ive got to tell you, one of the things thats happened in this pandemic is we have discovered that we dont know where anything is when it comes to health care, whether it be the ventilators, whether it be the ppe, this protective gear. If you were made czar of the ppe logistics, what are the actions you would immediately take to get a better handle on the global ppe supply chain . First, im confident that i wont be made czar of the ppe world. If that were to happen, we would be in trouble. Second, i would say, though, that i have deep appreciation for all the people on the front line who are truly helping and ensure that the world continues to operate in some form and that we have some level of normalcy in our lives here. At zebrazebra, we provide soluts that enable logistics or front line employees in Logistic Companies to operate more efficiently, in distributing ppe equipment as an example or any other kind of merchandise or goods. So we help transportational Logistics Companies get much better disability into what ppe equipment they have or any other kind of inventory they might have we help them locate it and we do this in real time. We also help to orchestrate the work flows and the how the goods flow through their supply chains and we have to do this at scale. You know, ive been a huge fan of the company for a long time, but some of the analysts were unhappy youve got this gigantic post it was painful. People said it was delayed and because its delayed they dont like your stock as much as its used to. Is it possible you could pull forward and have it happen sooner these people who are naysayers were a little let down that this usps thing didnt occur instantly. First, we won a number of the largest postal systems worldwide and usps has been our largest contract to date ever for the company. We are very excited about the new or expanded relationship we have with usps and how we can help them optimize Package Delivery and execution across their networks the rollout is really determined by usps. And the end gate today is around Previous Service they have to have all their new devices before 3g service is taken down, expected to happen by the end of next year. We are currently forecasting based on the information we have from usps about the delivery schedule but they could be you know, they certainly have the ability to pull it in. Okay, good. Because i hate to give up on something that is obviously so huge and will be in the big numbers coming up. Anyway, thank you so much, anders, for coming on the show always great to talk to you, sir. Thank you so much. Anders gustafsson, ceo of zebra, in the ecommerce and logistics world. vo quickbooks salutes those who work for themselves. Theyre adapting to support their communities. But many need our help. If youre a Small Business in need, or want to help a local business, go to quickbooks. Com smallbusinesshelp intuit quickbooks. [female vo] restaurants are facing a crisis. And theyre counting on your takeout and delivery orders to make it through. Grubhub. Together we can help save the restaurants we love. It is time [ buzzer ] and then the lightning round is over. Are you ready . Lets start with neil in virginia neil. Caller hey, whats going on, jimmy chill . The chill is in the house. Caller whats going on ive got a question about ultrix. Thats the kind of stock that when the smoke comes out of this market and we go back and see what really works, it is Better Software than what we have people dont like these stocks right now. They always come back because theyve got great growth so im going to say fine lets go to sherry in massachusetts. Sherry sherry caller hey, jim. How is it going . Its going well, sherry caller thank you for taking my call. I enjoy your show. I look forward to it every night. Oh, thank you. Caller my question is, what are your thoughts on invitae very, very, very dicey. You know what . Weve got so many Fabulous Companies that are much, much that have come down so much. I would rather see you buy johnson johnson, to be honest. Lets go to robert in arkansas robert caller im on hold to im on hold for a tv show on business channel cnbc. Ello . Caller hello is this roberts boy . Hello . Im sorry. I cant understand what who am i speaking to caller hello. Hey, who is on . Caller this is joe. Joe, yeah, give me a stock, joe. Caller yes i was interested in delta airlines. No, youre not. Youre not going to be in interested in any airlines because theyre going to have to take money from the government and youre going to be so diluted, you wont make any money. Ixna on that one david. Caller first time in a long time. Okay. Caller 24, setting up a dividend reinvestment plan, Realty Income what do you think . No. No youre 24. I want you to go for growth, not you have plenty of time to get income. Youve got to go for companies that are down and out stock but fantastic growth you should look at a stock like alterix. That would be good or octa was on last night. Thats a fantastic consequen constellation brands, Something Like that. Bianca caller hi, jim stock has plummeted shortly after ipo. Yes. Caller even after having a year over year gross margin growth with unemployment rates climbing and people looking for alternative sources of income, do you think its a good longterm buy . That is an interesting idea, you know what . I am glad you brought that to my attention. Let me do some work on that. Thats one that is new, and i dont know i want to give you more considerate answer. Richie in pennsylvania, richie caller jim, how are you doing, sir good. How are you . Caller im good. Trying to stay away from the covid. Smart caller my question is about switch, swch with the things going on in the data center. Look, i think data center and anything connected with it is fine Digital Realty Digital Realty has a little more going for it you want to go with switch, im going to bless it. Why . The data center is hotter than its ever been because of the amazing amount of traffic that people who work at home are generating lets go to lisa in virginia lisa hi, cramer. Thank you for everything you do on cnbc. My question is, what do you think of nokia and its future . No, no, no. Look, if you want to go there, we had marvel on the other day mrvl nokia itself is not good enough for your money and that, ladies and gentlemen, is the conclusion of the lightning round announcer the lightning round is sponsored by Td Ameritrade when covid19 first came to america the initial big outbreak wasnt in new york it was in washington, specifically seattle since then, though the state of washington has done a terrific job of flattening the curve and containing the viet russ however, to make that happen, they had to crush the local economy. Seattle is the first big city to go through this. Theyve made real strides in coping with the damage for example, youve got organizati organizations like allin seattle, which is designed to po pull resources and quickly deploy them to where theyre needed most. One of allin seattles founding members. Steve singh, he was the old ceo of technologies before he sold the business medrona group, now is a guy just trying to lend a hand. Mr. Singh, welcome to mad money. So good to see you again. Ive been speaking with the mayor of summit, new jersey, with people who are trying to figure it out. How do we help we dont know. We dont have any idea of how to help people because we never thought it would get to this tell us what youre doing. So, jim, as you said, look, seattle is, unfortunately, at the front end of the pandemic here in the u. S. And front end also unfortunately the economic down graph were seeing from the pandemic and so theres a group of people that got together, led by raj and jill singh, my brother and sisterinlaw and others who said we also have to be at the front end of how Community Comes together to help its people. And we obviously know that with time the state and federal governments will come in and really override these systems as needed unfortunately a lot of folks who lost their jobs at pubs, restaurants, sports arenas, theyve still got mortgages, still have to put food on the table and they need help today so what we did as a group is come together and said can we raise our first goal was lets raise 10 million by last sunday the group has raised over 30 million. And that money is being put to work we vetted a bunch of charities, Great Charities all around the country, all around the world, but we wanted to work with charities that could help today. That next minute, help feed people can you help with their housing . Can you help with health care . We were able to deploy these funds with charities that can help our fellow Community Members immediately. Ive been working back and forth with treasury on the program they just launched, which does help small mediumsized business and theyre dealing with Community Banks. Are the Community Banks helping out, too yeah, they are. Obviously, this is all very fluid. And youre seeing some banks look at the situation and say we want to lend to folks that have actually borrowed from us before other banks are taking, in my view, much more communityoriented approach, which is were going to help businesses within our community. I happen to be on the board of washington federal bank, and their ceo has taken a position that says, you know, whether you borrowed from us before or not, doesnt matter we want to help our community. Think about it this is not just good for banks, its good for our community, which means that everybody benefits over the long run and right now these Small Businesses need our help, not just to make it from one day to the next these are jobs that are fantastic jobs over the long run. I heard some folks speak to the fact that venturebacked companies, Small Businesses employ about a third of the workforce. Right what im trying to envision, this is what were trying to figure in our town and so many others did you start with a website did you start with donations do you have what is the way that you motivate people to give to you rather than theres so Many Charities ive given to Richard Shermans charity up there how do you kind of how do you navigate so, this is very grassroots, right . Its myself and [ inaudible members of the Business Community are part of this names you would recognize such as bezos, but the beauty of this is every leader at any size company has come together and said we want to be part of this. Its that oneonone outreach from every one of the folks that are in seattle to other members of the community, asking them to chip in. Asking them to go to their networks and ask those people to chip in and be part of solve in problem. What youre doing is terrific it is what were all going to have to do, because government cant solve anything anymore its not like the old days its people. Exactly and government will certainly step up and help were seeing that happen the things were doing all in seattle, this is going to happen in every community in our country. New york seeing this ral raleigh is going to see this every Community Big or small, will have this challenge the opportunity for all Community Leaders is to say our first job is to step up and help our people. Steve singh, thank you. Weve missed you director of madrona group. We want to show you what the future is going to have to look like for your town that the world needs. But right now, the world needs all the good that we can do. To all of our employees and everyone working to keep america strong, thank you. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. Think big, okay . Were going down now, and i know that, and you know it. We all know it we feel it in the stock market what we dont know is when science is going to cause this and it is going to take science. The government is going to keep it in place if youre a Small Business person, but in order to get the customers back, you have to have the other side, too. I am a person who is an optimist and i am confident in our scientists i dont want to bet against america, so im not going to tell you to run for the hills. I am saying have a nice cash position but im saying its also just dont give up thats never right like i said, its always a bull market somewhere on mad money im jim cramer. See you monday special cnbc program path forward is up next. Good evening im scott wapner on day 96 of the Coronavirus Crisis two major breaking stories a new recommendation from the cdc on masks and warren buffets Berkshire Hathaway selling millions of shares it has been a wild, wild week. As stocks drop, President Trump calls in Big Oil Executives well work this out and well get our Energy Business back im with you 1,000 . At the same time american individual Business Owners flock to websites looking for federal help. The anxiety