Transcripts For CNBC Mad Money 20240713

Courscourse jim cramer right now the stock market and the bond market are like two heavy weight champions duking it out. And todays stocks had a very good round dow surging 1,173 points, the s p 500 skyrocketing, the nasdaq soaring 3. 85 . Hallelujah. Who are these two boxers . In one corner you had a stock market that had gotten viciously oversold thanks to the coronavirus outbreak and wall streets existential fear of a Bernie Sanders presidency. In the other corner, well, youve got the bond market specifically u. S. Treasuries every time they go up in price, we go down in yield. Lately their yields have been plummeting sending chill through the spine of all investors who follow both markets. Now this is a vicious and i will tell you somewhat scary for us, but bond yields so frightening low theyve been decking the much smaller stock market, as surely as muhammad ali sent so many challengers to the canvas the bond markets still screaming that were not out of the woods, that were being come place se play sent, the rates actually rose the tenyear treasury went back over that yield, also integral to the rally theres a tremendous amount of fear in this market. Were afraid of getting sick, physically afraid. Afraid for ourselves, for our families, for our children, for our spouses. Were afraid of the economic fallout from a possible pandemic u. When investors are terrified you get a flight to safety people want to hide in the lowest risk assets they can find, even if they get little return u. S. Treasuries are viewed as the ultimate safe haven. Thats why institutions are pouring their money into our bonds. They dont care if they make any money. They just dont want to lose it. Thats why Interest Rates keep plummeting thats why the treasury yields just above 1 but was below 1 a couple of days, thats close to record, you know, todays still close to a record low. Buyers desperately want these bonds for protection the sellers wont let them go, which is how you get a market that rises and rates go lower. If i were treasury secretary id take advantage of this moment to offer billions or trillions of dollars in longterm bonds now the white house obviously cant spend that money without congressional approval, this is the perfect time for the federal government to try to refinance what it can of the old National Debt or issue bonds to fix our airports and our roads that are awful and third world, im sorry undeveloped whatever without new supply these bonds are due to keep going heyer eve higher every time we get scared by covid19. I think its a given that there will be more bad news. I know a lot of people feel were out of the woods come on, its too early. The lack of Economic Activity in terms of travel, leisure, dining and entertainment pushing down even further everyone starting working at home including the people who dont have a job who aint been working, then youre bound to get a severe chick sleconomic s. The bonds are signaling recession because of the coronavirus. Thats why the fed slashed short rates yesterday because lower rates wont make people more willing to go on vacation in the middle of an epidemic. Lower rates are not the tonic we need this is more important than lower rates, this. In fact, that rate cut not only signaled panic, worse, it signaled cluelessness. They know nothing. This is not a financial crisis for heaven sake its a Public Health crisis. Its great to have lower rates if theres demand for money, but when theres no demand because youre too afraid to go outside let alone buy a car or refinance, come on the rate cuts might hurt us. I speak to older people who seem more worried about not getting enough fixed return from their income, than coming down with the coronavirus. Maybe they should be concerned im just telling it is as it is. The combination of those fears gave us the stock market that seemed to know no bottom today the heavy weight, the technicals gave stocks a major boost. Im talking about the market edge short range oscillator. Its proprietary indicator that id pay to see after the market closed every day ive been getting it since the 1980s. It really matters to me. Used to be the s p, now its put out by market edge this is the source i like to credit something thats so important in my thinking this darn thing is so reliable that even in the midst of a bearish biological bond race, what does an oscillator do, it measures buying and selling pressure it tells us when the selling may have gotten out of control when youre caught up in events, you may not know things are gotten out of control. Youre looking for benchmarks, for tokens, anything that makes you feel like things have gotten too crazy, and thats why i pay for marketedge. Coms oscillator to make that judgment call for me its a Pretty Simple tool. The oscillator is between negative 5 and 5, youre in the neutral. Below negative 5, too much gloom. Abo the more extreme the reading the more aggressive you can get. When the oscillator goes below negative 12, my benchmark, theres almost always a great time to buy. Almost always. We saw this after 9 11 when that terrible tragedy turned out to be a oneoff event, we saw it on august 11th during the debt stealing crisis and our debt was downgraded bid none other than the rating agencies s p. We saw it in january 2006 when the chinese stock market collapsed when the fed seemed hell bent on raising rates and 2018 when the fed tightened way too aggressively and proved to me. They know nothing each time was a marvelous moment to buy stocks each time stocks were overreacting to some news that turned out to be not as serious as wall street believed. Sure things were bad, but they werent that bad they werent that bad. They werent that bad. They were bad. They werent that bad. They werent bad and these things were all solved lets talk about this, though this is the one time where the market edge oscillator failed, okay this is what i think is the outlier, the Great Recession if you bought stocks when the oscillator hit minus 12 back then, well guess what . You did get smoked because we were dealing with the true financial crisis where nearly all of our bigges bant banks an insurers were going under. By the time the fed started cutting rates aggressively it was too little, too late, and the stock market got more than cut in half before it bottomed and many of our famous Financial Institutions became more abunda abundant had is coronavirus panic more like the financial crisis here or is it like this, this, this, this, this, which is it like which is it like of the minus 12s, the four times it worked in recent history there was no credit crisis there were no big failures there was no Systemic Risk the one time we failed to bounce we had all those problems. The reason it was so wrong for the fed to cut yesterday is it made old hands like me feel like theres got to be this this is what we reacted to, and it must be some credit crisis we dont know about, some institutions on the verge of failure. Come on, jay, just like in the Great Recession. They were trying to restore confidence all they did was instill panic thank heavens we got over that quickly. As i said over and over again thrks this is a biological crisis. It could hurt hiring it could cause layoffs if the fed tide over Small Businesses, i think well come out on the other side just fine even without breaks closing down commerce all over the country. Right now the oscillator is saying you should buy stocks both short and longterm even after todays increased my friend bill at market edge just told me, we remain at doubledigit negativity. More good news for the bulls more likely that were here and not here you can see this rally reflects measure an oversold bounce obviously joe biden es strong super tuesday performance, allowed wall street to buy a sigh of relief maybe a possible cure, i dont think were getting that either but i see even if you disagree, you can use this strength were getting right now. Get rid of all those bad stocks. Sell sell sell for all i care. For me we lighten up a bit on stocks we bought during the downturn were still very long. The bottom line, the stock market champ put the bearish bond market challengers through the meat grinder today, turbo charged by the turn against socialism in last nights primaries. Dont worry, im sure there will be one again tomorrow. Wayne in new york, wayne caller hey, jim. Wayne. Caller calling in tonight on swk, Stanley Black and decker this past monday family presented at the Raymond James Institutional Investors conference, and they were given their virus impact situation they were going over their supply chain exposure on their ten factories in china, and talking its good theyre moving some back they should move all theirs back im actually disappointed stanley cedeed to the chinese. If you want to do that, go buy home depot i think you want the diversity i remind companies watch what happened this time around. If you were too dependent on china, whether you were a drug company, a hammer company, i dont care you look very illadvised and youre only getting the term illadvised because tonight i feel like jimmy chill. Lets go to kari in nevada caller hi, this is kari in nevada, and ive been watching your show for a long time. I bought boot at 36 around three weeks ago when you had the interview with the ceo. Right since i bought boot and its gone down around 20 and has plummeted around 60 from its recent high of 48, i cant tell if its going to continue to go down or if i should keep it or i think you should keep it. I like the model we had them on the show a number of times, matt boss likes them ill have to check in with matt. I do think that they have that theyre in good shape they are a retailer. Retailers have been very varied here greg in new jersey greg. Caller how are we doing jimmy chill . Jimmy chill is taking it to the house. Caller first time caller, longtime listener i wanted to get your thoughts on fedex leading into earnings. You know, youre rolling the dice, my friend. Youre rolling the dice. I dont like dice. I like cards better because i have a memory for the no memory cards, but i think fedex is maybe you want to do it in calls, but youve got to see china come back online, you want commerce to come become online you want management to m can back online. Thats a lot of lines. In one corner you got the stock market in the other corner youve got the bond market. Today the latter was put through the meat grinder missed it . Tomorrow well get another bout. I think were more like this and like this and like this and like this and not like that jay powell may disagree with me. Hes fed chief hey, but im the host of mad money. On mad money tonight with Interest Rates at record lows, that was just phony hubris, find out. Then its the most popular method of investing missed its apex, and did coronavirus fears impact dollar trees most recent quarter or was it execution problems ive got the exclusive with the ceo so stay with kramer. Dont miss a second of mad money, follow jimcramer on twitter, have a question, tweet cramer madtweets or give us a call at 1800743cnbc miss something head to madmoney cnbc. Com. I cant believe it. That chad really was raised by wolves . Which one is your mother . Thats her right there. Oh, gosh. No, i cant believe how easy it was to save hundreds of dollars on my Car Insurance with geico. Its really great. Well, im just so glad to have met your beautiful family. And we better be sitting down now. Believe it geico could save you fifteen percent or more on Car Insurance. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. 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[ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] dont be blinded by the green today. Weve had a ton of volatility. We need to continue to guard against those ugly down days like we endured last week. Ive always told you you need to own some gold as insurance against economic chaos, and despite a temporary pullback last week, the pressure is going into overdrive lately. A lot of ways to own gold, you can go with the bouillon if you can find it. Or you can go with the gold bars and this is where i can give you valueadded because my favorite is barrett gold, the corporation created by the merger ran gold you can buy companies now the worlds premier gold producer with a barics most recent quarter was fantastic, stock is up doesnubledigits for 2020 hey, lets dig deeper with ma bristow, the president and ceo of barrick gold. Welcome back to mad money. Hello, jim, how are you doing . Well, you told me that this merger would be gigantic, two plus two is five this ones looking like a two plus two is seven, big dividend boost, unbelievable lower costs, how did you put it together . You know, proper due diligence, jim, and when you combine high quality assets with high quality people, you always get high quality results now, you have found, i think when people go through your documents that nevada has im used to you drilling in places that arent safe, but nevada is an unbelievable gold producer for you guys so thats important that was a key component of this combination was to really consolidate nevada and really thats the foundation of value for barrick, then weve got the opportunities and the risks in south america, Central America one of the biggest gold mines in the world, and then you look at and then you look at papua new guinea, and africa you know well, jim, youve walked that voyage with me high quality assets in a continent where you can make money and deliver value as we proved you have always been telling me its not enough just to have gold you like dividends you like to put money in peoples pocket. 40 Dividend Increase for q4 thats correct, and if you look back at from the announcement on the 23rd of september 2018, more than 100 increase in dividends, and whats more . Its based on the quality of our p l earnings right, now we call it impact per share, you talk about esg. I dont see that when i read a lot of mining reports. You call it not just a social imper, you say its a commercial one. What are you doing exactly, youve got to be in this modern world, weve got to be good citizens as well as good businessmen, and when you go to emerging markets, its very important that you realize youre managing national assets, and those people in those countries should benefit from your activities just like we expect to deliver value for our shareholders, were equally intent to make sure that we earn our social license and those stakeholders and those countries also benefit. Im glad you mentioned africa i have been telling people over and over again that my friend mark bristow is not worried about these different kinds of infections the one you dealt with, you were at the epicenter of it, ebola, and you were not scared, and you developed methods to be able to do commerce. Could you please tell the people in this country who are petrified that there are ways to do commerce and business even in the toughest places . You can manage this, you know, as you correctly say we went through the west african Ebola Outbreak it was put to bed. We are still dealing with the eastern drc ebola crisis in fact, weve had now ten days, jim, of no new infections, so thats fantastic were turning it around, and what thats taught us is how to manage these situations and the importance of knowing where people have come from making sure that we control the access of people into our operations, and more importantly managing the logistics and the inventory of our critical consumables and those moving items and you can be rest assured that the whole of barrick across the gold looks like assets used to look like in west africa when that first Ebola Outbreak happened. Appreciate that courage and encouragement. One last question, mark, i think you and i both know it, and you taught me this, were running out of gold in terms of easy to find gold. I feel like this is golds time, that this is not just a small move we could be in a multiyear move given the fact youve got all the good assets. The other guys dont seem to have themoney. Could i be right there is finally not enough gold and not enough miners that this is your time absolutely, and never has there been such a alignment of all the different fundamentals that support the gold price. You know, when you look back bo post 1972 there was a period of deflation. Gold price, you know, was you know, where we had negative Interest Rates then we went through the sort of positive Interest Rates in the back end of the last century, and as you know, we had a very low gold price, and weve been in this negative Interest Rate for some time now on top of it as you point out, were forecasting somewhere around 30 decline in new Gold Production over the next ten years, and then if you look at gold prices risen in every single currency to almost record level, and thats despite the fact that the equities continue to perform strongly so theres something happening here jim, apart from the fundamentals and the tightening of supply, in the global economy, theres a nervousness. We might not be at the top of the market, be wooere a lot closer to the top than the bottom, and people need to have a bit of insurance. Boy do they ever. One other thing i would leave you with is for the first time last year we saw gold equities outperform the gold price. Right, right. First time for a very long time its good to buy some gold. I agree with you mark bristow ceo of barrick gold, a winner, thank you so much, sir. Heard what he said, stocks are actually outperforming the bouill bouillon, and this is the best one to own mad money is back in a minute. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Have we finally raeceached a peak in index fundation with the dow rebounding nearly 1,200 points, ive got to wonder if the most popular investing tool of all time, still may have reached its high water mark. Yeah, weve reached a point where more than half of all funds are now index. And when it comes to money managers, something that popular is rarely right. Remember, the whole premise is its impossible to consistently beat the market by picking individual stocks so you cant beat it. Therefore you got to join it i dont think its impossible to beat the market. Remember the thing i created faang, that kind of crushed the market but picking winners does take time and effort, which im willing to put in. Thats why ive been a fan of index funds. I know you may not have that time i get the appeal man, oh, man when everybodys got that same strategy, im starting to believe index funds are starting to get too crowded. A down market really validates stock picking. Especially soc you can follow along by joining the i still think theres a place for indexing im got some retirement funding in it, ive got money in a cheap index fund that mirrors the s p 500. I do believe that should be the bedrock of your retirement account. The Massive Movement toward sector etfs seems increasingly foolish. The overall s p 500 concept works because the s p is a very actively managed fund. Each year they take out the winners and are sold at a premium, and they take out the losers, those that got too small. But these sector etfs theyre nothing more than fee generat s generators im tired of them. Take yesterday, i spent a considerable amount of time with mike worth, the incredible little good ceo of chevron he beats kpcompetition on cash flow, even sustainability, but it doesnt matter. Chevrons in the oil etf and these days the preponderance of oil stock traiding is etfs id short the darn oil etf id use the etf against itself betting chevron will outperform the rest of the industry we see the same thing in pharma, the drug etfs have homogenized the unhomogenizable. Same with bio tech i lihighlight the winners constantly why would you want to buy the etf that sticks you with the losers, the ones that dont spend enough on r d so they dont have much of a pipeline, which is a key determiner of growth the bogus single stock risk you hear about in ads, the single stock risk of owning faang, or walmart, amazon, target, costco and home depot is that so hard . Is that a single stock risk . These are the best companies in their industries we know that, they have the best balance sheets, the best growth. But the fee hungry brokerage industry which is constantly running out of ways to grow would have you believe each are more dangerous thanes lost maybe mix them with twitter or snap or hewlettpackard, big lots, nordstrom. Soften the blow, bring in some mee y mediocrity in an industry when you can just pick the obvious winners every one of those that i said thats mediocre i hope they get better i hope you get better, im just looking at stock prices. At the end of the day, these sector based index funds were designed for a market where most investors picked individual stocks for many industries, more people trade the indices than individual stocks, these created indices. Creates a lot of opportunities for those of you who are willing to manage your own money, yeah, i know im early but anyone who doesnt see this index fund peak on the horizon is fooling themselves, and enough with the single stock risk rating of our viewers who are smart enough to buy the good stocks and leave the raggedy rest to others brian in ohio, please. Brian. Caller booyah, jim, brian from dayton flyer country. Speak to me caller youve mengtsed a few high dividend paying stocks you like with kraft heinz paying 6. 2 after the huge stock price a year ago, which of your lists is that one on . Thats a poorly managed company with pantry brands that make you better if you want to have a fallout shelter because we might have nuclear war with the soviets if its 1968 or 58. Otherwise why . I like good tasting food thats fresh, something i learned when i was growing up the Mass Movement towards sector etfs is not prudent. Its not right for you the index fund peak is on the horizon. Much more mad money including dollar tree, how are the coronavirus and chinese tariffs impacting this company ive got the ceo. Stocks might be bouncing but theres still serious discounts to be found. Is it worth considering here and rapid fire tonights edition of the lightning round, so stay with cramer. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From managing inventory. To detecting and preventing threats. To scaling up your production. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. With pizza huts new mozzarella poppers pizza you can switch between 16 fried Mozzarella Bites and a large pizza. Pizza, then app. App, then pizza. Its your world. Were just making pizza in it. Hurry and try it before its gone. No one outpizzas the hut. All s p sectors were higher today but not everything was working. This is a rough time for many of the retailers. We saw that when dollar tree posted less than optional results this morning dollar tree has been trying to turn around their lagging Family Dollar business for years. They keep hitting speed bumps. Last year it was the trade war lots of their stuff comes from china. Then the Company Reported a tepid third quarter. Weve got an epidemic keeping people at home, and the most recent numbers, when dollar tree delivered a 0. 04 earnings, 1. 75 basis this morning their same store sales were weaker than expected, up 0. 4 yearoveryear gave light guidance for the next quarter and the full year. Thats why the stock got slammed today. It fell more than 3 on an otherwise great day for the averages can this chain turn itself around are they in trouble . Lets take a look with gary philb philbin, get a better sense of what happened. Mr. Philbin, welcome back to mad money. Thanks for having me again. So gary, youve got one operation dollar tree, which ive always loved and been supportive from day one. You grot another one Family Dollar, what i noticed this quarter youve got one management, and that could really be helping going forward, in particularly on the discretionary side of things tell us about the Management Changes and what they could mean for the future. We did, and were excited really the path forward was we said one voice, one message, both for our folks and the trade and we have now one chief merchant, rick mcneilly, and we have one enterprise president , mike watinski. No matter what, though, youre still faced with your brick and mortar and you did have china, and now youve got corona how can those people make a difference well, corona thankfully weve talked to folks on the street today about where we sat on our supply chain we dont know what the futures going to be, but right now we feel like things are turning back to normal on the supply side i think the real story is about where is the projection for Family Dollar and what we called out was a discretionary side which has been a laggard of Family Dollar. We like h2, you saw the store. Its been getting foot traffic. The one we went to in asbury. Now weve got to tweak the discretionary side, the margin side of the store. This tariff headwind is problematic, and at the end you talked about how difficult it is to move sourcing but dount you have to in the end didnt this turn out to be the perfect storm that made it feel like you have to move something to mexico, get out of china totally, Southeast Asia some, because it looks like that was the smart move. You can and we do, but its not as easy as picking up a supply chain and dropping it into another country but we have moved on each buying trip, d product, now were faced with tariffs from the first half dont forget we had 15 on foray, and now 7. 5, there will be a first half hit and headwind for dollar tree. When i read the compares are going to be tough in the first half, i was struggling to trying to find a reason to tell people to buy dollar tree right now, that maybe you have to suffer through a couple of quarters before you get to the promised land. I think we try to be very transparent today. Management change, here was our issue on the Family Dollar side. Lets get our house in order on the discretionary. We can be more than we are today on the dollar side on the dollar tree team, have a clear focus. This is what we do at a dollar price point, we deal with some of the same vendors when we go overseas to really prescribe and make the kinds of products we want. Okay. Now, my wife was out on long island yesterday, and she paid 20. She wanted the hand sanitizer. She was not at dollar tree or Family Dollar. Can you keep this in stock the spike for all retailers is off the charts right now. Certainly folks doctoriare doin right thing. Lets wash our hands there certainly is a spike were doing everything question to stay in stock. Does anyone come in and not buy this and this and all this other cool stuff that i like whats interesting this week, certainly the news is the coronavirus, but its tax refund time, and its first of the month. Right and really what were seeing especially on the Family Dollar side this week, people are shopping the whole store, and dollar tree too, were a few weeks out from easter, but the seasons tarted to lift at dollar tree. I buy my balloons and i get them every holiday look, you know, im a very simple person. This is what my father did this is what i do. Helium shortage this year. Maybe yearoveryear that could be good. A much better valentines day for dollar tree, helium was in better shape the offset of that or what added to it was you sold more party, and the Hallmark Cards that we have in dollar tree, and now Family Dollar coming too, Hallmark Cards have been a great lift for the Party Section of dollar tree. Theyre expensive everywhere else. Theyre 1 still at dollar tree, two for a dollar and dollar you were doing the more expensive dollar tree, hows that going we call it 2. 0. We really wanted to reboot it. You heard me talk about it last year. You were very honest. Youre tweaking it you dont have it right yet. Well, we really wanted to buy the right items, and we thought the items that our customer expected at dollar tree were more about the wow, the discretionary items. What do you find that you know is somewhere more than 2, 3, or 5 somewhere else. We said 2. 0. Its going to be categories, our aim for mom and kids, much more discretionary, cool stuff that people will see in store. I got to believe that you put 200 million to work, so buying stock. I have to believe that you believe, but you know its now a show me story. It is i think its as we tell our plan, i think we get credit for telling the good and bad of where we are on the plan so far, but people say, no, go do it, and thats where our Management Team is focused because we know we can we have confidence in this plan. I know that online or off price, which youre most definitely off price, are the two places to be lets hope you get that done, gary. Without a doubt. Thank you thats gary philbin, the ceo of dollar tree i love my dollar tree, Family Dollar, if they get that going, stock goes much higher mad money is back after the break. Apps are used everywhere. Except work. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com it is time its time for the lightning round, and then the lightnin round is over. Are you ready . Diana in new york, diana. Caller one sec, okay hold on. Youre up caller okay. Speak to me caller hi jim, booyah. Booyah. Caller i was actually wondering what your thoughts on Luckin Coffee were. I dont mind that at all. In the end youre allowed to speculate, i do think if you like a coffee company, you ought to buy the one that that would be, yeah, starbucks where you can get a triple and call it a cramer. Lets go to scott in indiana. Caller jimmy cramer, the legend, the man, hey, jim, thanks for everything you do for the small investors. Yes caller ive got a stock i want to know a little bit about, pgny. Well, i got to do my little homework on that big boy because i do not know it well enough progny, i remember when it was like a dial up company lets go to allen in california. Allen. Caller hi, jim booyah. Booyah. Caller thank you very much for your show, and advice throughout the year. 11 years ago you provided me some insight on a stock, and it went up 600 fa fantastic. Today im asking about amt. Oh, man, its james taglet. Hes been 100 times told me to write this guy off, 100 times theyve been wrong and yes, i know about the combination, you think im an idiot . Between tmobile and sprint, i dont care, we still need more towers and thats going to be great for america. Its also like the International Tower which i would have changed my name for that sackson in new york. Caller booyah, jim, first time caller, long time watcher wanted to give a quick shoutout to Americas Team, the buffalo bills. I wasnt aware theyre Americas Team but im willing to go with that. Caller im calling about a stock called jd, revenues rising by 10 . What do you think . No. You know, look, we got the alibaba, how much do we have to be in there . No no why dont we go to this could be this may be a mistake. Charlotte in North Carolina, charlotte. Caller Booyah Booyah from the city of charlotte. Ive got pharmaceuticals, imo, i dont know whether to hold this thats one of the most speculative stocks in the world. Thats all im going to say, youre on your own in North Carolina charlotte, charlotte. Lets go to jim in florida caller im calling from naples i bought eaton in 2008 or 9 you suggested it was an unintentional high dividend yield. Ive been holding it ever since, and i was just wondering if i should buy more. Actually, 3 yielder, its doing much better than it used to be and yes, the answer is i would buy more and that, ladies and gentlemen, the conclusion of the lightning round. Announcer the lightning round is sponsored by Td Ameritrade a lot of stocks are bouncing today, but there are still plenty of names down dramatically some of them, the ones that are basically immune to the coronavirus should be worth picking up why dont we talk about zen devdev desk heres a stock that spent years as one of the best performers in the market billion dollars sales company, last summer the growth briefly went out of style, though, zen desk came roaring back a month ago it was back above 90 an excellent quarter, but over the last couple of weeks its been hammered again. 173 as of today, thanks to the market wide selloff, and it is the market wide selloff. Zen desk was supposed to have had a big conference in miami today but they had to cancel and do a virtual version instead because of the coronavirus outbreak they also had an analyst day on top of that. Im taking a look at this company from afar. I want to take a close look, though, with nickel spade, somebody we likely introtduced out west, a better read on how his companys doing and where its headed. Welcome back to mad money. Thank you so much for having me okay, so i know that you had to have your conference remotely but when i look at your business, i think its one of the best stay at home businesses because youre a software company, and you seem to be able to help companies wherever your people are am i being too optimistic . Well, i would have loved to have been in miami today mentally im there, and it would have been great to spend some time with our customers. We are in the relationship business and like we love spending time with our customers, so were definitely like were definitely impacted by not having this conference and like we have to think about the impact overall to our business. But i think its important to talk about success store riesto. Boy does it sound great, called indoe chino which is destroying traditional brick and mortar youve got a Great Customer story with them. Why dont you tell our viewers about how good you are at your job . Thank you yeah, so like one of the things we have announced is the general availability of our sunshine platform its the next generation, and truly designed for service for crm world. Companies like indochino are starting to model all of their different customer attributes, all their customer work flow, all their customer information on the sunshine platform and can make that Information Available to everybody in the business so they can provide a seamless Customer Experience. We are very excited about working with these types of companies that are really thinking service first, crm and were working with Companies Like lodgitech, netflix, and man others. These are all companies weve had. We happen to be big fans of logitech thats terrific. Can you tell us what you do for them weve had them on maybe a dozen times. Yeah, so logitech is one of our earlier movers on the sunshine platform. They have modeled their entire Product Catalog and all of that you are their customers on sunshine when one of that you are customers log into the system, they can instantly see all the products they have, what versions of it, what drivers are available, all these different things, and their Service Agents and their customer facing people can see the same information they can see exactly like what does the customer have, what version of it and all these things, and it just provides for a much more smoother Customer Experience i think its important to point out that you do not want to create me too products at zen desk, and you have something that i think is really terrific as a Small Business owner, which youve got conversational capabilities, but you also can do native messaging capabilities that is the latest and fraetegrt right now, isnt it . Yeah, this is like this is where everything is going to messaging. Like our kids, next generations theyre not going to use email theyre not going to call each other. Its all going to happen on some kind of messaging. So like our new support suite that is just being released today brings in natively all the worlds most popular channels for messaging over social channels, and this is something that we see a lot of the first movers embrace very rapidly right now to make sure they are in very tight touch with their customers, and weve been working with great brands like four seasons to ensure that like their Concierge Service is available for all guests when they log into the hotels, and they can provide that seamless experience, that very personalized experienceover messaging. Im glad you mentioned that i go to four seasons im fortunate to go to four seasons. Thats you, i didnt know that was you. You make it so that we feel great. Im checking in with one in april. In toronto, their headquarters area, and its seamless, and its zen desk, huh yep, its a Great Service experience i used it with my own kids at the hotel in costa rica. Fantastic experience when my kids wanted a pizza even with popcorn after spending a week in the jungle, and it really is a seamless experience, and its moving fast, and its the future of how we engage with each other, and its the future of how we expect to communicate. Im glad that you were able to at least come on our show if it was only by remote. We didnt get to talk about the Amazon Web Services tie. That will be next time youre a loved figure among many of the customers, i know that because they tell me about it, and that is mikkel svane, the chairman and ceo of zen desk, its always good to see you. Thank you. Everyone feels like youve missed a move, zen, look at it, you havent missed anything. Stick with cramer. Hi. This is the man thats going to check your eyes grandma. 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If you think its the end of the world or think things are really wabad rkts you can lightn up and sell stuff tomorrow and stop complaining about it. If youre a longterm player, maybe things are better than we think. Theres always a bull market somewhere. Im jim cramer, ill see you tomorrow and the cnbc special report markets in turmoil begins right now good evening everyone, and welcome. Im Tyler Mathisen and this is day 66 of the coronavirus. Tonight new cases in new york state but the stock market pushes it aside, the dow sky rockets up almost 1200 points. We are closing the day at the highs. The bulls take charge. Stocks back in the green. The dow soars 1073 points, the