Mad Money 06/12/26 | Audio Only
Speakers
Jim Cramer
— Host, Mad Money
Summary
Jim Cramer celebrates the successful SpaceX IPO, framing it as a historic event that unlocks value and will spur more tech IPOs. He outlines a bullish long-term view on SpaceX, recommends selective space alternatives like SES and watching Rocket Lab and Planet Labs for pullbacks, and reviews his slate of recent IPO recommendations. Cramer also fields lightning round calls, highlighting buys in Dell, Vertiv, Eli Lilly, and energy infrastructure while warning against Zscaler, Adobe, Kroger, Accenture, Fubo, and other struggling names amid a market rotation.
- SpaceX debuted as a public stock and immediately surged, seen by Cramer as a long-term call on space exploration with visionary Musk execution.
- Positive IPO reception creates a path for other AI/tech companies (Anthropic, hyperscalers) to raise capital and come public.
- Oil price collapse expected if Iran peace materializes, feeding a dramatic inflation decline that should allow Fed rate cuts.
- Space sector sees rotation: SES offers value as a satellite/spectrum play, while Rocket Lab and Planet Labs are worth watching for better entry after SpaceX-driven selloffs.
- Recent IPO tracker: EquipmentShare uncertain near lockup, Forging Power a sell before insider lockup, Swarmmer and Cerebras too expensive, Madison Air and X-Energy attractive buys.
- Likes: Eli Lilly on GLP-1 momentum, Dell on strong leadership, Vertiv as top AI infrastructure layer, Constellation Energy as oversold, Credo as hold, Cadence as buy-the-dip.
- Dislikes: Zscaler, Adobe, Fubo (secular declines), Kroger/Accenture (margin/competition threats), Progressive (insurance sector pressure), Manpower/Pier 1 (value traps).
- Income idea: Energy Transfer Partners and Enterprise Product Partners combine for ~6.5% yield with growth potential for conservative investors.
Ideas
SpaceX is a long-term space exploration call
Elon Musk has ideas and execution; historically betting against him failed. SpaceX just went public, priced well, and could have real positive repercussions. For long-term investors who treat it as a call on space exploration, the stock is a buy, especially on dips, because the long-term upside is conceivably unfathomable. Musk is a money maker, and SpaceX is a unique asset with no direct clone.
Anthropic likely to IPO soon, prepare
SpaceX IPO's smooth debut will prompt other companies that need capital for AI investments to come to market quickly. Anthropic, backed by investors who want to ring the register with an IPO, may soon try to raise money. Cramer urges investors to call their brokers and prepare to get a piece of the next deal, starting with Anthropic.
SaaS out of favor, avoid Zscaler
Zscaler, a SaaS company, is being dropped from the Nasdaq 100, a black mark. Software-as-a-service stocks have viciously fallen out of favor, as shown by Adobe's disappointing quarter and management exits. The group is in secular decline, so Zscaler should be avoided.
Kroger margins shrinking, avoid
Kroger, like every supermarket, is hit with higher bills and must pass some costs to consumers, but it's too difficult to pass on all of them, so its margins will shrink. The stock is struggling.
AI competition hurts Accenture, avoid
Accenture, the consulting company, has seen its stock fall 36% YTD. People believe it is being out-competed by OpenAI and Anthropic, as AI tools like Claude can replace some consulting work. This secular threat makes the stock unattractive.
Buy Eli Lilly on strong GLP-1 momentum
Eli Lilly has strong earnings momentum, a pipeline of drugs coming through, and has built out many factories to produce GLP-1s. Cramer wants a huge position for his charitable trust and tells the caller to stay in the stock because it's a really good one.
Insurance sector under pressure, avoid PGR
The insurance group is under a lot of pressure, evidenced by a downgrade of Travelers to sell and estimate cuts across the industry. When the whole industry sees number cuts, it doesn't matter how good a single company like Progressive is; avoid it.
Satellite spectrum play appeals at value
SES, a Luxembourg-based satellite and spectrum company with 120 satellites and valuable spectrum bands, is much cheaper than SpaceX. It has scale after acquiring Intelsat, benefits from growing connectivity demand, and at this valuation the market is giving it very little credit. It trades in Paris and Luxembourg but may be accessible via brokers.
Wait for pullback before buying Rocket Lab
Rocket Lab is the cleanest way to play space infrastructure, but after rallying nearly 300% over twelve months and trading at 65x sales, there is no reason to chase. The stock was sold off as a source of funds for SpaceX. A much better entry point will come after more of a pullback, so it's worth watching.
Wait for better entry on Planet Labs
Planet Labs operates Earth observation satellites and sells imagery analytics, which is more valuable with AI. Revenue grew 42%, defense/intelligence 65%, backlog up 72%. However, after a 470% rally it still trades at 26x sales, and the growth is not as strong as Rocket Lab's. It is not a blind chase; wait for a better entry.
Buy Dell on pullback, strong leadership
Dell has pulled back significantly and is a terrific buy. Michael Dell is doing fantastic work, and Cramer is helping him. It's an easy call to buy Dell and believe in Michael Dell.
Nvidia is Cramer's top AI pick
Nvidia has done absolutely nothing lately, but it remains Cramer's favorite AI stock. The company is a great business and a better pick than AMD at this moment.
Equipment rental dip may deepen, watch
EquipmentShare has fallen from near $30 to under $20, but reported a strong beat and raised guidance with unprecedented demand. The stock gets cheaper as it goes lower, and Cramer is inclined to stick with it, though the lockup expiry on July 22nd could cause another pullback, presenting a watch-and-buy opportunity.
Ring register on Forging Power before lockup
Forging Power Solutions has been a home run, rallying 75% to $59, and did a successful secondary. However, with the insider lockup expiring in early August, Cramer gives his blessing to ring the register and sell now to lock in profits.
Avoid Swarmmer, too little revenue
Swarmmer, a drone software company, has zoomed from $26 to $45 but brought in barely $20,000 in revenue last quarter. Cramer still finds it very hard to recommend the stock at current levels given the lack of fundamentals.
Buy Madison Air for data center cooling
Madison Air (symbol Mair) is an air flow and cooling play for data centers with exposure to semiconductor manufacturing. It delivered much better than expected numbers and a strong full-year forecast. After a 10% pullback from its highs, Cramer says buy it right here, right now.
Buy X-Energy if you like nuclear
X-Energy designs small modular nuclear reactors with a capital-light model of licensing technology and selling processed uranium. It's speculative and won't kick in until 2032, but if you like the nuclear power story, Cramer blesses buying some here after the pullback from $31 to $19.
Cerebras still too expensive, avoid
Cerebras Systems, a competitor to Nvidia in AI inference chips, jumped 68% on its IPO, but Cramer said it was way too expensive at $311. The stock has since fallen to $214, losing nearly a third of its value, and he still believes it is too rich. It's a cautionary tale and should be avoided.
Constellation Energy fallen too far, buy
Constellation Energy has fallen way too far; the sell-off is overdone. It has come down a lot, and Cramer wants to back it up, implying it's a buy at these levels.
Credo networking company, hold
Credo Technology is a networking company that's amazing and has been on a parabolic move. Cramer advises holding it, maybe taking a little off to get the cost basis out, but it remains a great company worth staying in.
Avoid Manpower, no growth
Manpower Group has never been a great win and lacks growth. Cramer has no edge in it and would avoid it; he prefers Paychex down here for its yield and potential comeback.
Paychex has good yield, could rebound
Paychex has a good yield, and Cramer thinks it can make a comeback. He doesn't mind it down here and suggests it as an alternative to other staffing names like Manpower.
Pier 1 is a value trap, avoid
Pier 1 trades at a fraction of where it was a decade ago, but has no growth and is a value trap. Cramer has studied it and does not want it.
Cadence is hold, buy on dips
Cadence Design, formerly run by Lou Tan, is a sensational company. It is a hold now, and if it comes down, it becomes a buy. Cramer loves the management and the business.
Vertiv is best AI infrastructure layer
Regarding the AI infrastructure stack, the first layer to dip has been the Vertiv layer, and it's the best layer to be in now. Dave Cote, chairman of Vertiv, told a good story, making Vertiv the top pick to deploy capital into that AI power and cooling niche.
Buy ET and EPD for income and growth
For a low-income investor seeking higher yield than CDs, Cramer recommends building a position in Energy Transfer Partners (7% yield) and Enterprise Product Partners (5.9% yield), for a combined ~6.5% yield with some growth and a possibility of nice income. There is a plastic shortage that benefits Enterprise.
Adobe in secular decline, avoid
Adobe just reported a disappointing quarter, the CFO left to go to Marvell Tech, and the CEO resigned. Recurring revenue slowdown was obvious, and the stock is in secular decline. Even a potential bounce from $204 to $220 isn't worth it; he doesn't want investors in it and values the business closer to $60 billion, not the current $82 billion.
Media secular decline, avoid Fubo
Fubo, as a media company, is in an industry in secular decline. Cramer finds it very hard to like anything media. A big basketball game doesn't change the structural headwinds, and he won't invest just because it looks cheap.
Up Next
This CNBC video, published June 15, 2026, features Jim Cramer discussing SPCX, ANTHROPIC, ZS, KR, ACN, LLY, PGR, SES, RKLB, PL, DELL, NVDA, EquipmentShare, Forging Power Solutions, Swarmmer, MAIR, X-Energy, CBRS, CEG, CRDO, MAN, PAYX, PIR, CDNS, VRT, ET, EPD, ADBE, FUBO. 28 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Jim Cramer · Tickers: SPCX, ANTHROPIC, ZS, KR, ACN, LLY, PGR, SES, RKLB, PL, DELL, NVDA, EquipmentShare, Forging Power Solutions, Swarmmer, MAIR, X-Energy, CBRS, CEG, CRDO, MAN, PAYX, PIR, CDNS, VRT, ET, EPD, ADBE, FUBO