Cramer's 'Mad Money' Recap: Top Three Value Stocks for '07

Management needed time to break the company down and to fix it, the chief executive said. Six Flags had a transition year in which the company rebuilt its foundation, and it is continuing to do so, he added.

"We've cleaned up our parks, put better employees on the ground," Shapiro said. "We reinvested money into fixing the operation." In addition, "the value of the underlying real estate is substantial," he continued.

Shapiro said people don't like Six Flags because they had a bad experience at the rundown parks. However, they need to understand that "it takes awhile to turn a ship like this around," he said.

"We are fixing it and marketing it better," he said. "We have a great team and are going to execute this year."

Cramer said he believes the stock is done going down and should go higher.

To view Cramer's interview with Mark Shapiro, please click here.

Lightning Round

Cramer was bullish on Chevron (CVX Quote), Melco PBL Entertainment (MPEL Quote), NYSE Group (NYX Quote), eBay (EBAY Quote), Simon Property Group (SPG Quote), Northgate Minerals (NXG Quote), Yamana Gold (AUY Quote), Crystallex (KRY Quote), Dell (DELL Quote) and Wells Fargo (WFC Quote).

Cramer was bearish on Exxon Mobil (XOM Quote), Motorola (MOT Quote), Nokia (NOK Quote) and Hershey (HSY Quote).

For more of Cramer's insights during the Lightning Round, click here.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.