The stock market is ultimately a supermarket, Jim Cramer told his Mad Money viewers Monday. But unlike a supermarket, Wall Street is more of a caveat emptor (buyer beware) situation, Cramer said, as he embraced returning to the floor of the New York Stock Exchange for the first time since the pandemic began.
Even though Monday was a down day for stocks, Cramer said you simply cannot underestimate the importance of the New York Stock Exchange. The NYSE has both real and symbolic functions. It's the place new companies go to ring the opening bell when they have an IPO, but it's also the place to get the best price, as well as a "feel" for how buyers and sellers are behaving.
Monday, there were more sellers than buyers, Cramer said, more big accounts unloading their positions, forcing prices lower. That wasn't the case for all stocks however, as Biogen (BIIB) stoked the street with approval for its new Alzheimer's drug. Shares surged higher, closing up over 38% by the close.
Many people ask whether the floor of the NYSE still matters, a question Cramer answered with a resounding "Yes." Wall Street is a shrine to capitalism, he concluded, and it's still the most fair place to buy and sell stocks.
Executive Decision: T-Mobile
In his first "Executive Decision" segment, Cramer spoke with Mike Sievert, president and CEO of T-Mobile (TMUS) , the wireless provider that's risen 86% over the past two years as it evolved into the nation's largest 5G carrier.
When asked how a scrappy No. 3 player was able to unseat two behemoths, Sievert explained that AT&T and Verizon simply took their eye off the ball with media mergers, acquisitions and partnerships that all ultimately failed. T-Mobile is a pure-play 5G Internet provider and they're years ahead with the right spectrum, technology and customer-friendly policies their users love. The company added 1.4 million net-new subscribers this quarter alone.
T-Mobile is also leading the charge with 5G home broadband, Sievert said. Its 5G is so fast, it's already faster than most wifi systems and in many areas of the country, 5G is the only high-speed option.
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Executive Decision: Tradeweb Markets
For his second "Executive Decision" segment, Cramer also spoke with Lee Olesky, co-founder and CEO of Tradeweb Markets (TW) , the digital bond trading platform that's soared since the pandemic began as traders embraced digital platforms. Shares of Tradeweb are up 29% over the past six months.
Olesky explained that Tradeweb started small and was the first company to allow institutions to trade U.S. Treasuries over the Internet. Since then, the company has been adding asset classes and expanding its reach to traders around the globe.
In today's market, Olesky said that collaborative innovation is key, which is why the company works closely with customers to build new software that allows them to trade more easily, even in complex markets with complex trades.
Olesky said the Tradeweb advantage is its diverse offerings. The company's average daily volume is just under $1 billion, he said, across many different asset classes and markets.
Off the Charts: Amazon
In the "Off The Charts" segment, Cramer checked in with friend and colleague Larry Williams over the chart of Amazon (AMZN) , a stock Williams feels is ready to rally.
Shares of Amazon peaked five weeks ago when the company last reported earnings, but Cramer felt the stock has a bright future given its strength in retail, web services and advertising -- an area that's seeing 77% growth.
Williams agreed, noting that historically, June is a bullish month for Amazon. He also noted his own Williams Oscillator shows strong institutional buying since May.
Williams continued by pointing out Amazon's on-balance volume indicator and the accumulation-distribution gauge are both also pointing to a bullish divergence, which means the likely next step for Amazon is higher.
In his "Cramer's Playbook" segment, Cramer answered the question on everyone's mind: What is it, exactly, that makes the meme stocks, cryptocurrency and NFTs roar higher?
In the case of AMC Entertainment (AMC) , Cramer said, the company is doing everything right, using the strength in its shares to raise capital, clean up its balance sheet and expand its business to become the dominant play in its industry. That's how shares roar, like the 14.8% gain Monday.
As for GameStop (GME) , Cramer said the company's plans are still a mystery, but will most certainly be panned once they are known. Does that make GameStop overvalued? You bet. But will the meme traders care? Not a bit.
Then there's cryptocurrencies, an asset the rich are using as a hedge against inflation. Cramer said the easy money has already been made in crypto, but he still endorses owning one in your portfolio. Which one? Pick any one you'd like.
Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Monday evening:
Philip Morris International (PM) : "This is a well-run tobacco company, but it is a tobacco company."
Blade Air Mobility BLDE: "I think there are better ways to make more. I'm not going to recommend this one."
Atlassian (TISI) : "I think you have to worry about the valuation. That's way too big of a market cap."
Exact Sciences (EXAS) : "I think they are a great company. I'm a buyer."
International Game Technology (IGT) : "I can't believe this one keeps going higher. I don't get it, but it keeps on going."
Akebia Therapeutics (AKBA) : "That's a total speculative stock."
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At the time of publication, Cramer's Action Alerts PLUS had a position in AMZN.