The breadth of this market continues to widen, Jim Cramer told his Mad Money viewers Thursday, and that's a good thing for the bulls. There are many sectors playing catch-up at the moment, Cramer said, and many of those still have a lot of room to run.
What are some of the hottest sectors? Cramer said the work-from-home and cybersecurity stocks were among the first to rally. But recently, they've been joined by digital payments, like PayPal (PYPL) - Get Free Report, and e-commerce, like Shopify (SHOP) - Get Free Report and Amazon (AMZN) - Get Free Report.
There's a bull market cooking in, well, cooking, with Kroger (KR) - Get Free Report and McCormick (MKC) - Get Free Report both rallying. Autos are making a comeback with stocks like CarMax (KMX) - Get Free Report and Caravan (CVNA) - Get Free Report. Cramer was bullish on steel stocks like Nucor (NUE) - Get Free Report and plastics like Westlake Chemical (WLKP) - Get Free Report.
Finally, there are the housing stocks like Home Depot (HD) - Get Free Report and Toll Brothers (TOL) - Get Free Report, the home entertainment plays including Roku (ROKU) - Get Free Report, Netflix (NFLX) - Get Free Report and Peloton (PTON) - Get Free Report. And last, but certainly not least, Cramer said there's a bull market in Clorox (CLX) - Get Free Report, whose wipes, charcoal and other household products will be in high demand for the foreseeable future.
All of this breadth is great for the bulls, Cramer concluded, and it seems to only be getting stronger.
Cramer and the AAP team are looking at everything from earnings and tariffs to the Federal Reserve. 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.
Off the Charts: Federal Reserve
In a special Thursday edition of his "Off The Charts" segment, Cramer checked in with colleague Carley Garner over the direction of the market now that the Federal Reserve is buying individual corporate bonds.
Garner honed in the on S&P 500, the daily chart of which painted a bullish picture. She noted the index has a ceiling of resistance at 3,250 but after that, it's clear sailing to new all-time highs near 3,400. The relative strength indicator, or RSI, is in the middle of the range, signaling that there is still more upside to be had.
For confirmation, Garner turned to a monthly chart of the S&P 500 futures, which also confirmed her thesis. Cramer said it may seem unbelievable that the markets could rally another 9.1% to new highs with unemployment at record-setting levels, but this is what happens when money managers finally give up on their bearish short positions.
Don’t miss Cramer’s best, every day, with fast, actionable strategies: StreetLightning.
Executive Decision: AMC Entertainment
In his first "Executive Decision" segment, Cramer spoke with Adam Aron, president and CEO of AMC Entertainment (AMC) - Get Free Report, the movie theater chain with shares up 190% from their March lows. The company plans to begin opening its theaters on July 15.
Aron explained that AMC is the largest theater chain in the world with 1,000 locations in 15 countries, all of which have been closed for the past three months. That's beginning to change now as the company begins reopening with new cleaning and social distancing measures in place. Aron said their theaters will be clean, they'll be safe and customers who are tired of being cooped up at home will return.
AMC raised $500 million in April to help it weather the COVID-19 storm. As customers return, Aron said their cash burn will decline and they'll be able to return to profitability. The social distancing measures won't be a factor, he said, as most showings sell far less than 50% of the overall seats available.
Executive Decision: VMware
Poonen said VMware's success stems from the company's pivot from licensed software to subscriptions and SaaS services, which is only becoming more popular with their customers. It also comes from the company's technology that helps make working from home not only possible, but also secure. The company partners with cybersecurity companies like Zscaler (ZS) - Get Free Report to help from the most secure solutions available.
Poonen touted VMware's Tanzu mission control software as the perfect solution for companies looking to manage applications across multiple clouds.
Poonen also took a moment to speak out against racial injustice, saying that tech companies need to do more to speak out and raise awareness of the issues of inequality and injustice.
Green Thumb Industries
For his final "Executive Decision" segment, Cramer checked in with Ben Kovler, chairman and CEO of Green Thumb Industries (GTBIF) , the Canadian-based cannabis grower and retailer with 267% year-over-year revenue growth.
Kovler credited his 1,800 employees as the reason for their success. He said they have the best people in the industry, make great, branded consumer products made with cannabis and they invest their money wisely.
Kovler said his company's 46 retail locations are seeing 75% same-store sales growth and 50% gross margins because in times of crisis, like this one, people focus on their wellbeing. We said their stores are safe and clean and the company has knowledgeable staff there to educate consumers on the benefits of cannabis products.
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.
Here's what Jim Cramer had to say about some of the stocks that callers offered up during the Mad Money Lightning Round Thursday evening:
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 CLX, GS.