Cramer's 'Mad Money' Recap: Stake Out AeroVironment

Plus, because it's the only game in town right now with its virtually weightless plane, the company is in a good position, he said.

Although AeroVironment should come public between $14 and $16, "it won't be possible to get in at this price unless your broker gets you in," Cramer said. Therefore, he advised buying AeroVironment under $20 a share, buying it "with discretion" between $20 and $25 a share and selling it at $25.

Goldman Sachs is acting as AeroVironment's main underwriter, and Cramer said he doubts it would be bringing AeroVironment into the market unless Goldman believed that the company's next couple of quarters are "in the bag."

Southern Comfort

"If you're a conservative investor who doesn't like risk, you have to figure out if you want upside or if you just want income," Cramer told his viewers.

For those people who don't want mad money but want just a low, steady source of income to save for their retirement, he offered two bond replacement stocks: Consolidated Edison (ED Quote) and Southern Co. (SO Quote).

Bonds, Cramer said, are not exciting and are called fixed income for a reason: because you know how much you will get paid with them.

However, if market players find stocks with high dividends in a low-risk sector, they can get the same income as a bond with the upside potential of stocks, he said.