Cramer's 'Mad Money' Recap: Taking Stock in Staples

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"There are times when the market reaches out and gives you a freebie," which is what is happening right now with Staples (SPLS Quote), Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

At the moment, "opportunity has decided to start bulldozing you," and people are being handed Staples, he said. "If the market operated [on] anything close to rational principles, this stock wouldn't be trading as low as it is right now."

Staples is a best-of-breed stock in a very strong sector that has space to grow, Cramer said.

While Staples is leading the pack, there is something that doesn't make sense here -- it's breaking Cramer's rule. It is OK to pay a premium for a best-of-breed stock, and there's no question he wants you to buy Staples, but the thing is Staples doesn't trade at a premium, Cramer said. It is cheaper than its competitors, and this shouldn't be happening, he said.

"So far we haven't fixed this problem, so you've been given a gift certificate for Staples the stock," Cramer said.

The multiple of a stock, also known as the stock's price-to-earnings ratio, tells investors how much the market is willing to pay for a certain amount of the stock's growth and earnings, he explained.