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The high-growth game never ends, Jim Cramer told his Mad Money viewers Tuesday. That's why after a nasty two-day selloff, investors couldn't resist the lure of FANG, Cramer's acronym for Facebook (FB) - Get Report , Amazon.com (AMZN) - Get Report , Netflix (NFLX) - Get Report and Alphabet (GOOGL) - Get Report , formerly Google. These names have growth, Cramer said, while everything else doesn't.
It was just two weeks ago that Facebook, an Action Alerts PLUS holding, announced Instagram crossed another user milestone, and investors were quick to snap up the stock today.
Then there's Amazon, up 2.4% today as new research suggested the online company is top of mind for 42% of gift givers. Amazon also expanded its Dash button programming, allowing even more products to be purchased with just a click of a button. Meanwhile, Netflix received a buy reiteration right as the company announced that it only has 7% exposure to the Brexit fiasco.
But then there's Alphabet, another Action Alerts PLUS holding. Cramer said Alphabet just doesn't rebound as quick as it used to, prompting him to remove it from his acronym.
In its place, Cramer added Broadcom (BRCM) , which shot up 4.2% today and has growth in spades, along with Ulta Salon (ULTA) - Get Report , a company with so much growth the stock never sold off in the first place.
As for the new acronym, well, Cramer said he's still working on that. Perhaps UNFAB?
Off the Charts
In the "Off the Charts" segment, Cramer checked in with colleague Marc Sebastian to take a fresh look at the correlation between the CBOE Volatility Index, known as the VIX, and the S&P 500 and what the Brexit decision is playing out in the markets.
Under normal circumstances, the market and the VIX are opposite one another. When the market falls, the VIX, also known as the fear index, rises. Likewise, as the markets rise, the VIX typically falls.
This pattern played out as it normally would during the market's February lows. As stocks bottomed, the VIX saw a big spike. In the weeks that followed, as the market recovered, the VIX slowly fell.
Fast forward to late May and early June and the pattern changed. The markets rallied, but the VIX rallied too, signaling the big runup would be short-lived. It was. The VIX spiked big as stocks plunged on Friday.
But Monday was another story. Both the markets and the VIX fell on Monday, a sign that even though stocks were falling investors were not worried. That sentiment in turn led to today's strong rally.
According to Sebastian's analysis, the bulk of the Brexit damage is now behind us, sentiments Cramer shares.
Inspired by Insperity
Even in a bad market there are bright spots, Cramer told viewers. That's certainly the case with the business process outsourcing firm Insperity (NSP) - Get Report , which has seen its shares rise 52% so far this year. Insperity is not some new, sexy IPO, Cramer explained. The company is over 30 years old and provides services like payroll and expense management to over 100,000 businesses.
Things at Insperity became interesting in early 2015, however, as the company became aware that Starwood Value, an activist investor, had taken aim at the company. But unlike some activists, Starwood came to Insperity with solutions to improve the business.
Insperity took these solutions to heart, appointing independent board members, cutting costs and buying back 12.4 million shares of its own stock. When it last reported in May, the company shot the lights out with a 16-cents-a-share earnings beat with raised 2016 guidance. The company boosted its dividend by 14%, too.
Trading at 17.6 times earnings, shares of Insperity are no longer cheap, Cramer noted, but with 60% earnings growth, there is still more upside ahead. Investors should expect another 40% gain, he concluded, but there is more room to run for this reinvigorated company.
Off the Tape
In his "Off the Tape" segment, Cramer sat down with Michael Preysman, founder and CEO of the privately held Everlane, the online apparel retailer offering customers total price and supply chain transparency.
Preysman explained that the trends in the food industry regarding transparency and sustainability are also coming to the apparel world, where a $7 T-shirt retails for $50 and no one know why. At Everlane, customers not only see the cost of what they're buying, they also know where the item was made and by whom.
Preysman said Everlane uses only the best factories in the world and stringently audits all of them multiple times a year to ensure workplace safety and humane conditions.
In the Lightning Round, Cramer was bullish on Palo Alto Networks (PANW) - Get Report , Southwest Airlines (LUV) - Get Report , Sirius XM Radio (SIRI) - Get Report and Puma Biotechnology (PBYI) - Get Report .
Off the Charts
In his "No Huddle Offense" segment, Cramer poured over the stock charts, trying to find a company, any company, that actually benefited from Britain leaving the E.U.
He said that ARM Holdings (ARMH) might be one such winner, as a 10% decline in the sterling against the U.S. dollar translates into a 15% increase in the company's earnings per share. But ARM is levered to declines in cell phones, which would negate most of those gains.
One winner, Cramer theorized, could be JPMorgan Chase (JPM) - Get Report , which stands to take market share from its now-hobbled European rivals. However, thanks to Brexit, U.S. interest rates will also likely be hobbled in the short term, making those gains likely a long way off.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
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At the time of publication, Cramer's Action Alerts PLUS had a position in FB and GOOGL.