Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.

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Sometimes bad is just bad, Cramer told viewers. That was certainly the case with Snap's (SNAP) - Get Report most recent results, results that were so bad, Cramer wondered whether the company should be public at all.

If Snap were to come public today, with the problems we just learned of, what would you value it at? Twitter (TWTR) - Get Report has 30% user penetration with 35% gross margins. Snap has 70% user penetration with 21% margins. Yet Twitter is valued at $14.5 billion. Snap is valued at $15.5 billion. "It makes no sense," Cramer proclaimed.

One of the most troubling things about Snap's most recent quarter was the announcement that nearly 80% of the company's ad impressions are now placed programatically. This means the high-margin, handcrafted ad campaigns the company boasted when it went public were merely advertisers sampling what was possible with Snap. Those campaigns are now rolling off, leaving only the low-margin programatic ads.

Investors need to remember that Snap's common shares have no voting rights, so there is no one to hold the company accountable for its poor performance. Six months ago, we were told Snap's app was terrific. Today we were told it desperately needs a redesign. Is this a company worth even $12 a share? Cramer doubted whether it should be publicly traded at all.

On Real Money, Cramer says Kraft Heinz Co. (KHC) - Get Report is scanning the shelves for a company to buy. That may be the only way it can achieve growth. Get more on his insights with a free trial subscription to Real Money.

Cramer and the AAP team are taking a hard look at Starbucks (SBUX) - Get Report long-term growth target. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.

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To read a full recap of this episode of "Mad Money," click here.

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At the time of publication, Cramer's Action Alerts PLUS had a position in SBUX.