Splunk had a "smoking hot" IPO in April, he said, and its valuation is "like lava." "I'll say this for Splunk," he said, "it's a good idea but budgets are tight. Free products do similar things." Also, come Oct. 15 the lockup period will be over and insiders can start selling their shares. "Take the money and run," he advised. Finally, he said he was touched by the reaction from viewers writing after his "Day of Atonement" show Wednesday where he admitted his investment mistakes. "People know I do the show for you and I work hard every day to try to do the right thing to help your family save," he said.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer sounded off on the new iPhone 5 and the coming BlackBerry 10 from Research In Motion ( RIMM), which he said are two phones he doesn't like but had better sell well or their companies' stocks will not rally. The iPhone, of course, is made by Apple ( AAPL), a stock he owns for his charitable trust, Action Alerts PLUS . He noted CEO Tim Cook's apology for the phone's map application, "which has been universally panned." The stock, however, remains investible although there's no hurry to buy. The map app's black eye is only temporary. He's also in no hurry to get the iPhone 5 either. There's no way he's going to trade up on a phone where the map app is a trade down. Cramer said he has been worried ever since Steve Jobs died that Apple would be compromised in what it gives users. The iPhone 5 is not ready for its millions of map app users, he said. He said he likes the BlackBerry keyboard, but he's not even sure when the BlackBerry 10 is coming out. "It may be six months before we see BlackBerry 10," he said. Who can wait for then? Research In Motion may not have the BlackBerry 10 in hand but it sure has cash on hand. It has become a better long than a short, Cramer said. Now that the company has stopped the bleeding it may catch a takeover bid just for its intellectual property, its great keyboard and its 80 million strong subscriber list. --By Anthony Buccino for TheStreet.comTo watch replays of Cramer's video segments, visit the Mad Money page on CNBC.