To open or not to reopen, that's what's on Wall Street's mind, Jim Cramer told his Mad Money viewers Tuesday. But what does reopening even mean?
Cramer said we're in a brave new world and only a handful of companies have figured out this new economy. Retailers like Walmart (WMT) - Get Report, Target (TGT) - Get Report, Costco (COST) - Get Report and Amazon (AMZN) - Get Report have. Both Home Depot (HD) - Get Report and Lowe's (LOW) - Get Report have as well. In the restaurant space, there's Chipotle Mexican Grill (CMG) - Get Report, Domino's Pizza (DPZ) - Get Report and little else. What we need now is a plan for everyone else.
Without a cohesive strategy at the federal level, companies are forced to navigate a grab bag of state and local rules that are often in conflict. Consider Tesla's (TSLA) - Get Report battle with regulators over reopening its factory in Fremont, Calif.
Cramer said the U.S. needs masks for everyone, hand washing, social distancing, testing and contract tracing. Without all of those things, small and medium businesses will need another bailout to stay afloat. Without another bailout, we should expect a wave of loan defaults that could cripple our banks and send our economy into a depression.
"We need to do the best we can to get as close to normal without taking unnecessary risks," Cramer concluded, otherwise we will continue to sit in Purgatory.
Special Interview: Nancy Pelosi
In a special interview, Cramer spoke with Speaker of the House Nancy Pelosi about the $3 trillion rescue package that is now being debated in Congress.
Pelosi said the coronavirus has already cost us 80,000 lives and has infected 1.3 million Americans. Add to that 30 million people on unemployment and it's easy to see why we need another rescue package.
The path forward is clear, Pelosi said. We must test, trace and treat -- all things that are within our grasp, but only if we have a strategic plan to get it done. She said the current legislation is centered only on COVID-19 and is up for negotiation for anyone with ideas on how to reopen the economy safely.
When asked why the Occupational Safety and Health Administration (OSHA) isn't stepping in and ensuring that businesses are being operated safely, Pelosi said that a strong OSHA is the best defense companies can have. She said OSHA can help settle disagreements like the one Tesla is having with local officials.
Executive Decision: Novavax
Erck explained that Novavax is no stranger to vaccines. The company has worked on two previous coronavirus vaccines as well as an Ebola vaccine. They have a proven platform that should produce good results against COVID-19, but testing will take up to six months to complete.
Novavax has raised $300 million over the past 90 days to fund their operations, Erck said, but to deal with a pandemic, you need to make a bet that the vaccine you have will work, so it can be scaled up while final testing is completed. Novavax's current plan is to produce up to 100 million doses by the end of the year, with the capacity to produce one billion doses in 2021.
Only time will tell if their vaccine candidate is producing the desirable response in primates, which would then pave the way for human trials.
On Real Money, Cramer keys in on the companies and CEOs he knows best. Get more of his insights with a free trial subscription to Real Money.
Executive Decision: Logitech
For his second "Executive Decision" segment, Cramer spoke with Bracken Darryl, president and CEO of Logitech International (LOGI) - Get Report, a stock that's up over 16% as consumers outfit their home offices with new computer peripherals.
Darryl said that Logitech has been on the cutting edge of four high-growth categories including video conferencing, gaming, creativity and remote work -- all of which have been accelerating since the pandemic began. He said creativity and content creation was once just for big media companies, but now anyone can create content and Logitech has all of the tools to support it.
Turning to the topic of eSports, Darryl said Logitech remains committed to gaming with products for every price point. The company continues to support colleges and universities setting up eSports leagues for students.
Finally, when asked about remote work, Darryl said everyone can benefit from upgrading their webcam to include better audio, video and ergonomics.
In his "No-Huddle Offense" segment, Cramer considered the reports that Uber (UBER) - Get Report might acquire GrubHub (GRUB) - Get Report for $6.25 billion. Shares of GrubHub responded by rallying 29% in after-hours trade.
Cramer said UberEats just doesn't have the scale to compete in the delivery market, which is why acquiring GrubHub would make perfect sense. The company has terrific technology and restaurants need delivery to survive.
The acquisition of GrubHub would allow rival PostMates to come public, Cramer said, and any merger activity would be welcomed news for the stock market.
Here's what Jim Cramer had to say about some of the stocks that callers offered up during the Mad Money Lightning Round Tuesday evening:
Sprout Social SPT: "I'd sell 50% now to lock in your gains and let the rest run. "
Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
At the time of publication, Cramer's Action Alerts PLUS had a position in AMZN, COST.