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There are way too many companies out there, Jim Cramer told his Mad Money viewers Wednesday. But while the market is ripe for consolidation, we just aren't seeing the takeovers and acquisitions we so desperately need.
"We've got too many of everything," Cramer said. There are too many stores, too many airlines, too many banks and too many restaurants. But with the government stifling many proposed mergers, including Halliburton (HAL) - Get Report and Baker Hughes (BHI) , Pfizer (PFE) - Get Report and Allergan (AGN) - Get Report and many more, companies are now reluctant to merge, even if it would make a lot of sense.
Our country simply doesn't need all of the retail stores we have, he said. Despite a few bankruptcies, there isn't any capacity being taken out of the equation. Even in biotech and regular tech, two sectors with beaten-down stocks that are ripe for mergers, the deals just aren't getting done.
Executive Decision: Lew Cirne
For his "Executive Decision" segment, Cramer sat down with Lew Cirne, founder and CEO of New Relic (NEWR) - Get Report , the cloud-based data analytics provider that is up almost 50% from its February lows.
Cirne said companies are increasingly becoming digital. When you have large software deployments, you need New Relic to monitor that software and let you know how to improve it. New Relic's platform allows any company to measure and improve their software.
In fact, when the healthcare.gov website first opened with disastrous results, it was New Relic's software that determined where the site was failing, and why. New Relic also helps companies like General Electric (GE) - Get Report with its software and digital initiatives.
Cirne said that for ecommerce providers, New Relic provides dashboards that not only show at a glance if their shopping cart is working, but also how fast it is and how happy customers are using it. By learning more about customers, retailers can focus on keeping them happy.
Cramer admitted that he hadn't heard of New Relic until about a year ago, but said the company is doing a terrific job.
Ignore the 'Brexit' Hysteria
Cramer said despite articles claiming tomorrow's vote will be the most significant event in British history over the past 500 years, the reality is that the UK only already an a la carte member of the EU. Britain has its own currency and can opt out of practically any EU regulation it chooses. In fact, the European Union has less control over Britain that any other state.
So even if the vote is to leave, it won't be momentous nor historic, especially for most American companies that don't even sell things in Europe.
Executive Decision: James Park
In his second "Executive Decision" segment, Cramer sat down with James Park, chairman and CEO of Fitbit (FIT) - Get Report , the wearable device maker that's seen its shares plunge from highs near $51 in August to just over $12 today, despite posting 50% revenue growth in its most recent quarter.
Park said Fitbit is only nine years old and still has a lot of growth ahead. He noted that international sales only account for 20% of overall sales while similar companies have 50% of sales overseas. Meanwhile, the overall wearable device market still has millions of potential new users.
Fitbit is also a growing player in enterprise health, helping large companies shave millions off their healthcare costs by implementing wellness programs that include Fitbit. In addition the company is an integral part of over 100 studies aiming to determine other benefits and uses for the company's products.
Cramer remains bullish on Fitbit.
Silicon Valley's Pulse
In a special interview, Cramer sat down with Kara Swisher, executive editor at Re/code, for the latest read on the pulse of Silicon Valley.
Swisher said that Silicon Valley is in an interesting period with technology promising to change everything from cars to health to food. But at the same time, there's a dark side for the U.S. economy because as computers get better than humans at tasks like reading x-rays, there simply won't be any radiologists 10 years from now.
In a mini "Lightning Round" of high-tech names, Swisher said that Tesla's bid for Solar City was an unusual purchase, but people give Tesla CEO Elon Musk a lot of leeway. She felt that Twitter (TWTR) - Get Report will likely be sold, but only if the company's board of directors wants it to be. She was bullish on the outlook for Alphabet (GOOGL) - Get Report and felt that Uber is going to be worth a lot of money if and when it comes public.
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At the time of publication, Cramer's Action Alerts PLUS had a position in AGN, GE, GOOGL and TWTR.