Splunk had a "smoking hot" IPO in April, he said, and its valuation is "like lava."
"I'll say this for Splunk," he said, "it's a good idea but budgets are tight. Free products do similar things."
Also, come Oct. 15 the lockup period will be over and insiders can start selling their shares. "Take the money and run," he advised.
Finally, he said he was touched by the reaction from viewers writing after his "Day of Atonement" show Wednesday where he admitted his investment mistakes. "People know I do the show for you and I work hard every day to try to do the right thing to help your family save," he said.
No Huddle OffenseIn his "No Huddle Offense" segment, Cramer sounded off on the new iPhone 5 and the coming BlackBerry 10 from Research In Motion (RIMM), which he said are two phones he doesn't like but had better sell well or their companies' stocks will not rally. The iPhone, of course, is made by Apple (AAPL - Get Report), a stock he owns for his charitable trust,
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts