Cramer's 'Mad Money' Follow-Up: Sprint, RIM

On Tuesday's "Mad Money" TV show, Jim Cramer's dark-horse stock pick was Sprint(S Quote).

He said that when no one has faith in a stock, it can make the stock attractive. While Sprint isn't the best in its space, it's up 137% this year so far, making it the S&P 500's best performer.

"It's still priced as if it's going to disappear under it's heavy debt load," he said, but he wasn't worried about the company's debt because Sprint generates more than $3 billion in free cash flow.

He called it an incredible opportunity at its Tuesday closing price of $4.35 and especially under $4. The stock closed on Wednesday down 16 cents, or 3.7%, at $4.19.

Cramer was also bullish on Research In Motion(RIMM Quote), which posted an earnings beat on April 2. Cramer liked its cost-cutting efforts and the fact that its subscription numbers are rising.

RIM closed up $1.96, or 3.3%, at $61.91 on Wednesday.

He wasn't as big a fan of the UltraShort Financial ProShares(SKF Quote) ETF, however, labeling it the "ETF of mass destruction" and calling for it to be banned.

Not only doesn't the ETF accomplish what it claims to -- it should be up double the decline of the financial index it tracks but instead hit a new 52-week low recently -- but Cramer wouldn't want to short that group of financials anyway. He said the only way for the strategy to work would be to short individual names, not with an ETF.

The ETF was down $1.33, or 1.5%, to close at $88.52 on Wednesday.

In his "Lightning Round" segment, Cramer said he was going to give Yahoo!'s(YHOO Quote) new CEO a chance and that the stock's a buy.