MAD MONEY 文字起こし 10JUL21 Next Week’s Game Plan, Synaptics CEO, Lightspeed CEO & Tackling Tether and Stablecoins Mad Money w/ Jim Cramer

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窶皿ad Money w/ Jim Cramer: Next Week窶冱 Game Plan, Synaptics CEO, Lightspeed CEO & Tackling Tether and Stablecoins on Apple Podcasts

0:32
Cramer Welcome to Mad Money. Welcome to quit America. I'll be one of my friends. I'm just trying to help you make some money. My job is not just to entertain, but to educate, teach and put all these things in context. So call me at one 800 743 CNBC or tweet me at Jim Cramer. For weeks now we've been flying blind. We've been trading stocks without much of a clue about earnings, mostly taking our cue from for much larger bond market. That includes today we're Treasury yield soared. And so did stocks with the Dow poll voting for 48 points. Yes, be jumping 1.13% NASDAQ getting point nine 8%. These were all new records, basically a redo a do over from yesterday's decline? Well, once again, we have emphasized that you must learn to use sell offs caused by the interest rate declines on stocks, but interest rates declines as opportunities not uses to panic. Next week, though we stopped flying. Well, sort of. Yep, we start to get a clue when we kick off with feels like it was earnings season. Right now we've got so many publicly traded companies to deal with so many IPOs. And last year, I say sort of because earnings season kicks off with the major banks and all the stocks, all the stocks in the market. They're the ones that are most hostage to interest rates, rates go down, the banks make less money rates go up, the banks make more money. In other words, they're a microcosm for how the markets been trading for the last few weeks. I think some of these bank stocks stole from their upside today when they snap back even harder than the rest of the market. But that's because we're coming off for days of plunging bond yields. Today, we finally saw a break in that decline and a nice move upward. It's too late to save the quarters. They're about to import next week. But I do think the banks have a chance to resume the climb that began earlier this year, when Wall Street thought the Federal Reserve would respond to a booming economy by raising short rates, which it will eventually With that in mind, what's the game plan for next week. On Monday, we expect to see what happens in this country now with the vicious Delta variant that's become the dominant COVID strain and I'm betting we'll see that wreaks havoc wherever large swathes of people chose not to get vaccinated. As Dr. Eric Topol told us last night, the FDA is foolish decision not to approve the vaccines beyond emergency status has kept some people from get from just getting their injections. More important though it makes it harder for businesses to insist that their employees get vaccinated with those two things. We could put an end to the pandemic without, well, we're just going to stay on what I call needless tenterhooks. I think we'll also get more clarity out of China. But what's next now the President Xi seems too eager to keep ramping up the belligerents every weekend every Sunday night. I think he's just testing President Biden. I hope President Biden was ready. Tuesday's important because we have the best consumer packaged goods company on earth, and the best bank reporting and here I'm talking about PepsiCo and JPMorgan. Both are problematic at the moment. PepsiCo, I know that they give us great numbers, but they also have to talk about how raw costs keep going up, especially freight. jp morgan should give us excellent numbers too. But they're going to have to talk about how trading and lending artists strong as they should be. I think both stocks are too high at this moment, given those two negatives I just lined out. So I would hold off from buying them up before earnings unless of course we get a meaningful pullback on Monday. In that case, I would buy PepsiCo, we also get results from Goldman Sachs. If people are worried about trading profits, and they should be then that means well, they're going to have to be extra worried about Goldman, which so much of their business is trading profits, even as corporate financial revenues should be very strong. Don't again what I got to say I wish both Goldman and JP Morgan went up more than 3%. Today this conversation would be with you would be a lot easier. Now let's not forget that the CPI the consumer price index comes out Tuesday morning. Now remember, last time we got to read out CPI the market immediately sold off hard because traders would visit the Fed would have to quickly slam on the brakes. They had to stop the economy because of inflationary numbers. They were dead wrong. So if we do get a hot CPI and we probably will well the inflation is or niece's are going to come out of the woodwork and make us try to try to get you to sell stocks. Maybe we don't listen this time. Hey, we got three big A's on Wednesday we got Wells Fargo Bank of America and Citigroup wells his turnaround story more than his banking story. If CEO Charlie Scharf tells us a good tale about how the turn is going. Then I think your stock can actually break away from the group maybe even make new highs for the year. Now I'm not sure about sitting group's earnings quality new CEO there I it's an expensive stock I don't want to get behind it. Now bank of america that's different. I'll say this. If you believe the economy's going to get stronger and interest rates will rise and maybe rapidly rise, then you want to buy the stock of bank of america right here right now. Delta Airlines reports to I want to know how much damage the Delta COVID strain is doing to delta. We also need to know business travelers are finally coming back it's hard to read are lots of international cancellations occurring. That's always a possibility because of delta. Finally, we hear from BlackRock now I'm sincerely hoping they tell us their their positioning outfits like engine number one, which is the hedge fund that spent $12 million to win a proxy fight for three seats when Exxon Mobil's Board of Directors with the goal of making the company more environmentally friendly, BlackRock see huge ETF company, they own tons of shares in everything. So if they support this kind of thing going forward, well, it's got major implications for all companies. Now, if the CPI comes in too hot, we won't have to wait long to figure out what the Fed will do. Because Jay Powell speaks on Wednesday, he's insistent that the current bout of inflation would be transitory. And right now, I think he has a lot of evidences on his side, given that many commodity prices have rolled over in the past, let's say eight or nine weeks, plus the Chinese economy has slowed down thanks to the Delta variant. And China's a huge consumer of commodities. While I worry about China, I'm more concerned with what they'll do to Taiwan. If they're crazy enough to invade it, and it doesn't turn into a nuclear war. That'd be terrible number of ways. In terms of the global economy, though, it means China would get its hands on Taiwan semi, the key foundry for much of America's chipmaking they report on Thursday. I think Taiwan semi can tell us whether microchip prices have peaked. I think they have more to go. I hope one analysts will ask if they are frightened of Chinese takeover. But these animals pride themselves on never ever ever asking controversial political questions. Earnings calls are not press conferences. This week, President Biden made it clear that he's no friend of big business. He just issued an executive order mandating tougher scrutiny of corporate consolidation across a host of industries. However, I didn't hear anything about the health insurance. That's good news for United Health when it reports on Thursday. And it is still viable. You're I know it's over 400 But I have to tell you, I very foolishly sold this for my Charitable Trusts about 100 points ago, after making about 100 points. I thought I was being a pig. Turns out I was being a foreign after the course we are from Alcoa, they gave us a fantastic quarter last time, but now it looks like many of the cyclicals have, Pete This one's especially important as long goes into everything. And the rising costs has been a major stumbling block for gross margins for a lot of the main of the buyers of lumen. I want you to pay attention. Finally Friday gives us the first important regional bank one of our favorites first horizon. Now I think it's could be a whopper of a quarter because it's core Tennessee market is red hot, maybe the hottest in the country. We're going to hear from Kansas City Southern the railroad is trying to merge with the Canadian outfit. expect them to comment maybe on Biden's newfound hostility Industry analysts be pleased asked that question. I think the White House is trying to block this deal. I wouldn't be surprised if they somehow get their way. Here's the bottom line. What happens next week, we'll color the entirety of earnings season. If we get some good ones, we'll be party mode, but a negative series of numbers from the banks and some setting COVID stats could make for tough earnings season just a precursor. Especially though if we get saber rattling continued saber rattling from the People's Republic of China. Tony in North Carolina, Tony.

8:24
We are again we are turning around thank you for all you do and your staff. They're great man. You're very kind. Thank you. Let's get your thoughts on the company. earnings. They're still pretty young company growth generation.

8:44
Well, you know what generation just talked to we got behind the teens and then it got to 60 and we kind of aborted ship. It's come back down. I happen to think the world of these guys as a way to be able to play cannabis. I like it much more than any of the actual cannabis stories. Thank you for the kind words I appreciate the comments next week. We'll call her the entirety of burning season. That means a negative series of bank results. I'm not betting on that but and some bad COVID steps which I am betting one could set a bit of a somber tone as the season begins. Where money tonight How is a company that I really like the semiconductor company called snap that synoptics can't capitalize on a more connected world. I'm sitting down with the CEO of find out then with Senator Elizabeth Warren calling on the SEC for greater oversight of cryptocurrency exchanges. What does that mean for stable coins like tether? I'm taking again, a closer scrutiny and I'm sitting down with the CEO of lightspeed to discuss the status for business at the register. So stay with Kramer.

9:43
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10:45
What do we do with all these tech stocks The day after these great run that are flirting new highs take a company called synaptic that's a company that makes human interface solutions for phones, computers, all sorts of connected devices, everything from touchscreens to fingerprint sensors to high quality displays. Now in the last two years, the stock has surged from the 30s to the 150, including a 40 point run since tech bottom and mid neck. Now we less recommend this recommended synaptic right before the pandemic hit since then it's up an astounding 80%. Now it doesn't hurt. This is a fabulous 5g play, especially since the company has been diversifying away from phones and into the whole Internet of Things. You know, we like that much more, we'll see more and more connected devices, thanks to the 5g rollout. And guys like synoptics It's a great story, but the stock has had a monster move. So let's kick the tires with Michael Huddleston, the president ceo of synaptic to get a better view on his company's process. Mercer, Mr. Welcome back to Mad Money. Jim, great

11:45
to Great to see you. Thanks for having me again.

11:47
Of course now, you were very self effacing. Gentlemen, sir. And you admitted that at one point you did understand why your price earnings multiple was so low, given all the things that have happened. And that's why we were attracted to it. In the interim, what's happened that you basically got a very good business that suddenly everybody realizes is basically very good business versus when we talk to each other last.

12:12
Yeah, great recollection, I think we've done a couple of things that have gotten attention. We talked about it last time we got together, the first thing was is gross margin improvement. We've made monstrous strides in that department. When I took the company over two years ago, the gross margins were pegged at below 38%. And had been there for quite some time. And we've made significant strides. Now we're in the mid to upper 50s, big, big move in that department. And the second thing you alluded to in your your opening remarks, we've been able to diversify the company, we've moved away from mobile into IoT, which has better growth characteristics and even better gross margin characteristics. So those two things are kind of the big, big moves in and in our story.

13:04
Now, it does seem like when I hear about the semiconductor shortage, it's about I don't want to call it as being low end versus high end. But a lot of the semiconductor companies have just been chasing the same thing, high performance computing, they're not going for full featured semiconductors, like you are. How did you note a pivot? Because boy, as far as I'm can tell, I want IoT. I will I do want PC. But most important, I want things like where and you have to explain this word to me. hotelling you're hotelling and I want auto. Everybody chase the same market. You got out you want to do a better market in your mobile game. How did you see that you had to go into things that actually turned out to be perfect, oddly, for the pandemic.

13:52
Yeah, we made two great acquisitions. One was set of wireless connectivity assets from Broadcom. And that worked out super well. Everything needs to be connected, and wireless seems to be the way to do it. And that has proven to be a great move. And the second one, you talked about a company called display link. And they're based in the UK. And they have this this really cool technology that enables you to dock your PC to multiple monitors. But what's unique about it is you can dock an apple PC, you can dock a Windows based PC, you can dock a Chromebook. And as people went to work at home, that was a big win. Interestingly enough as people are coming back to the office, it's creating another big win for us because of this concept. hotelling people are going to share their office space. And in that shared office space is going to be a docking station. And more likely than not, it's a display link driven docking station. So those two acquisitions have been great for us, Jim and I We couldn't be more pleased with the way they've worked out.

15:02
Okay, so you do talk about the PC market, some people feel that the PC market is slowed. I feel that judging from what, what's happening in your company, I'm not sure. It's that it may made that much difference to you because you keep taking a lot of the share of what's in a PC, which is often better than necessarily riding the wave of PCs. Yeah, I

15:26
mean, we we have a pretty diversified business. As you said at the outset, we're in PCs, we're in mobile phones. But more importantly, we're in we're in the Internet of Things. So as we talk about our PC business, there's our core touchpad and fingerprint that goes into the PC itself. But then we've got this whole other angle that has to do with the docking station side of the equation. So the two together, have really worked in harmony and built us a pretty strong sustainable business. One that if the PC market does downturn, we've got a whole nother leg to stand on, which has to do with this docking station business. So in aggregate, it's it's been a great story for us.

16:11
How about security cameras, drones? autos, we should talk about those because those are other those are businesses that people forgot to do when they were so busy chasing high performance computing.

16:23
You got to just right, I think it's been a play for us, particularly in the wireless side of our portfolio. I mentioned that wireless asset that we got from Broadcom, we position that not to go after the mainstream types of products like high performance computing, or really high speed types of applications. We positioned it to go into things things like drones, things like automobiles, like games. We've done really, really well with that business, it's outperformed our best expectations. And I think it's because we didn't go after what everybody else was chasing. We repositioned it to go after an interesting market that has turned out to be a great grower.

17:10
Yeah, that's what we have to leave it there but I want people to understand as much as I love not everyone knows I like AMD and Windows. I like Nvidia, but I like a pastiche you need the mosaic and you have the most ideal PC mobile hotelling IoT auto mosaic that makes it so I'm not worried about you if things suck we switch that's Michael rose to Presidency of synaptics who's taken the company that had previously over promised and under delivered any ended that and now they're doing just the opposite may have monies back into the break

17:43
coming up to make a move until you hear Kramer's take on a critical crypto Kavya. Can you cash in and let stability rain? Find out invest like a pro access CNBC live streams around the globe unparalleled access to CNBC experts actionable investor insight and ideas start your free trial today@cnbc.com slash pro

18:21
lot of people talking about the rewards of cryptocurrency not many talk about the risk. That's not the way we're gonna approach this. The biggest risk to the cryptocurrency ecosystem right now. So called stable coins are like tether. These are the ones that are supposed to be pegged to something in the real world, like the US dollar, you probably think they are because most cryptocurrencies are too volatile to be used in actual transactions. Lots of people swap between Bitcoin and tether or aetherium and tether when they want to do business. I think they're much more like stocks, but people want to claim their currencies. And that's how tethers become the third largest cryptocurrency. Why is this such a significant risk? because well, tethers extensively pegged to the dollar. It sounds like it's sitting on a big pile of greenbacks. Instead, each of these stable coins is backed by tethers reserves. And unfortunately, we don't really know what those reserves are, except that they include a ton of commercial paper short term loans to unspecified companies and unspecified reasons. That's why I raised a bunch of questions about this thing because we need those answers. I think they have adopted an ill advised strategy with little transparency. Since then, we've had a lot of developments in the space but not many answers. Instead, in the last month, lots of important institutions and politicians have started looking into the risk from stable coins, especially tether perhaps at our incessant prompting, I think that's fine, but it's also a step in the right direction, but not enough is being done to fix what many including some of my Chinese sources say is a ticking time bomb. So let me catch you up on what's been going on here since we first brought it to your attention. As I told you last month tether has more than 60 billion dollars in reserve assets. And as of their last disclosure, roughly half of that is commercial paper, which would make tether one of the largest holders of commercial paper on Earth. But here's the problem. I know a lot of people in this market and nobody in the commercial paper world that I know, seems to have ever heard these guys. And that's what Tim Massad he was the former chairman of the committee for Commodity Futures Trading Commission, an old buddy of mine from wall school told us last month, then a few hours later, the Financial Times published a piece where they uncovered something similar. Listen to this, quote, until last week, we hadn't really heard an end quote said a traitor large bank, it was new stuff, no words, once if they're not training, or if they were changing our commercial paper, everybody would know him because they're so big. Remember, these are short term loans to businesses, but we don't know which businesses so major players in the industry haven't even heard of tether. And that means major traders, you gotta wonder whose paper they're buying. And when we reached out to tether for more clarity, they told us that they own commercial paper from quote, international issuers and quote, which I don't think that much to go on. They also made it clear that none of this paper comes from cryptocurrency exchanges, which is good, but not that illuminating whose paper is at tether says they're buying this paper through bank intermediaries. So maybe that's why nobody's heard of them. But we don't know who those banks are more important. We don't know what part of the world this paper is coming from. Because now why here's why that's important. See if they're holding commercial paper from Chinese companies, that's a very different story than commercial paper from say Canadian companies call me a skeptic about Chinese bank commercial paper. What else three weeks ago, another one of these stable coins clapped. This is tight, a decentralized finance token that supported an algorithmic stable coin called iron. Now it's different beast than something like tether. But what matters is Titan went to zero in a matter of minutes. That made a bunch of headlines, in part because some big name investors like the very smart guy, Mark Cuban, got burned. Now, Cubans calling for more regulatory oversight here and he's a pretty influential guy out we get it. Here's what really caught my eye on why we had to go back two weeks ago, Eric Rosengren when I was on vacation, the president of Boston fed gave a speech where he highlighted stable coins like tether as a major potential challenge to financial stability. He's not super worried about crypto ecosystem, but something like tether for support that could have a major impact on the short term credit markets due last week, Fitch totally reliable outfit red split right down the middle. One of the big three ratings agencies spelled out these visit this in more detail. Basically, if there's a run on tether, they have to sell the reserves in order to pay off people who want to trade in their coins for dollars. And that would mean selling a ton of commercial paper given the amount they own. That would certainly have an impact, especially if President Xi ordered it fischels points out another potential problem something like tether quote may not be stable of short term credit spreads widen significantly as as occurred in times of financial stress in 20 22,007 2008. This contrast with the way stable coins are marketed to the public and quote suboptimal. Finally two weeks ago Senator Elizabeth Warren whom are trying to get hold on to come on the show to talk about this published an open letter sec Chairman Gary Gensler, who has a lot on his plate, calling for greater oversight of the crypto ecosystem. She's not specifically focused on stable coins, but she points out the crypto markets are ripe for manipulation and outright fraud, and she wants to make sure someone at the SEC is on the case. Once the federal government starts shining more of light on crypto, I have to believe stable coins like tether will emerge as a major point of focus. I think this is a much better use by the way of Senator Warren's time and coming after jamie diamond JPMorgan for charging people overdraft fees, which we don't like. Now, something else has changed in the last month beyond the fact that tethers getting more attention. In the first five months of the year, the amount of tether in circulation surged from 21 billion to more than 62 billion practically in a straight line. In the last month though, it's pretty much flatlined, actually down very slightly. That may be because crypto hasn't exactly had a great month with Bitcoin down a few 1000 bucks versus June night. When we reached out to tether they said that demand is down but this is a chicken and egg problem does demand for tether rise as Bitcoin goes up attracting more investors or does the creation of tether drive the price of bitcoin higher? Remember, lots of crypto traders use tether to buy bitcoin with borrowed money. Obviously, correlation does not equal causation. But it sure is interesting, isn't it that Bitcoin can't seem to maintain a sustainable rally once tether stops being created. One more theory. This one's a little out there. Many people worry that tethers commercial papers from Chinese issuers. This is a Hong Kong based company after all, we know there's been a rolling crackdown on cryptocurrencies in the People's Republic of China. They're trying to stamp stamp out crypto completely. So it's possible that many of the institutions tether was biased commercial paper from could be now barred from doing business with it. Well, that's pure speculation, but a lot of people didn't turn it up to me again. I'm not Trying to bash crypto the opposite. I think we need some kind of stable coin to facilitate digital transactions. But tethers way too opaque for me, we need the same transparency we get from traditional money funds. What one good stable coin book like maybe USD coin, which has grown into the eighth largest cryptocurrency and the second largest stable coin, because it offers more transparency. USD coin is far from perfect, but it's a US company operating under us financial technology regulations with the US order and US bank accounts. It's got some flaws last year went from simply holding cash holding cash plus approved investments, and just like tether, we don't have much insight into what those investments are. Oh, and the company behind the one circle plans to come public by merging with the SPAC so be prepared to hear more about it going forward. The bottom line, it's been a month since we started covering the stable coins and tethers still remains a decidedly black box. But at least the powerful people are starting to take notice of what's going on here. This stuff is too important the crypto ecosystem not to be regulated. We think it's our duty on this show to point out the weaker links in crypto. So you and the regulators know the risk facing crypto.

26:07
And crypto owners including yours truly. Dan in Texas, Dan

26:13
Jensen, thanks for taking my call course. Thank you. I'm an action alert member and many of your names. Thank you for that. Thank you. But I wanted to play crypto and I was trying to find a way to get into crypto without actually owning the actual coinage but to own a business that benefits from it. So back in mid April through mid May, I was buying a coin base when it first came public. And it hasn't done so well. Since then. I'm wondering what should we do? Should we hang on? Should we sell Should we buy more? No,

26:39
I actually think it's it's stabilizing here. You know, I had more faith in Coinbase. I'd like to have them come back one like the CEO come back one, because I think it might be making a base here. And it isn't important, obviously. But look, it was a it was launched in a strange way. And I was trying to get people to not overpay by giving a price that I said please don't overpay and then went right beyond it and then it went down. My take on this is that it's finally reached the level there was a lot of insider selling and that really hurt people. But I think we're okay here. Let's go to Raman in California. Please Raman.

27:10
Hey, Jim, I've been following you for over 15 years. Oh, wow, this person calling in? Okay. Thank you and your team for all the hard work you guys do.

27:21
Thank you. I mean, I should have thanked her previous turn about action alerts me. People are so delightful. It's Friday and had to kick back and thank people for calling in and following for 15 years. How can I help you?

27:32
Hey, had a question about marathon digital holdings ticker symbol Mara, okay, with the expect with the expected volatility in Bitcoin and the entire crypto market? What's your take on the biggest and best Bitcoin miner?

27:44
And they are exactly that's what I would say their business best. And sometimes the like the owner picks and shovels and you've got a good one. You know, I have looked at this marathon digital and time and again, I've said maybe that's the one rather than Coinbase, I've should be saying is a way to be able to play this rather than just going and buying the actual crypto because a lot of people don't want to do that. I got comfortable with it. But you're right. This is the one alright, tether remains cryptic at this point. And it has to be regulated. It's just too important to the crypto ecosystem. And I know the New York, New York state doesn't let it happen. You're now much more Mad Money ahead including my exclusive with lightspeed how the company is helping retail and hospitality players go digital, typically at the register. Then I'm talking with the CEO of that's of lightspeed I'm sorry, then forget recovery shaped and l u or V. I'll tell you why and what we're seeing in the market and has nothing to do with the album but you're gonna remember it in order to cause rapid fire tonight's edition of the lightning round. So stay with Kramer

28:56
we're always searching for exciting new financial technology plays. And last fall we got a good one. When a Canadian company lightspeed POS that's point of sale of the symbol listed shares in New York Stock Exchange. These guys make point of sale and e commerce software for small and medium sized businesses, especially retailers, restaurants, mostly like golf places. lightspeed initially lived up to its name, it should be from $3.50 less whatever, to the low 80s at its highs in February, but then the hyper growth cohort rolled over the stock ended up falling to mid 50s. By mid May, it is a very expensive stock price. Let me though the hyper growth stocks have made a huge comeback, including lightspeed which is broken out and jumped to $85. You can see why investors are excited about this when the company had 127% revenue growth in recent quarter, most of that sticky subscription revenue, the best time but they've done a lot of acquisitions to also boost revenue. So have we missed the move here? Or could this stock have much more room to run and what's the state of the industry is they playing? Let's check in with DAX to Silva, he's the co founder and CEO lightspeed POS we're moving That's the symbol yet to learn more about the company where it's headed mission to symbol Welcome to Mad Money. Thanks for having me on. Okay, syntax. I don't know if you know, but I am a lightspeed client and when to reveal me probably do know that I am. But I want that restaurant. Yes. I wanted to say we did the work. And just felt that you were a great alternative to the other people. And you were also your salespeople were very, very kind. But it is a crowded market. And I have to tell you, there were many companies that wanted even our little bars business. So how does lightspeed distinguish itself from say, a square or a clover other companies that are very aggressive in one of our business?

30:41
Yeah, I mean, we've always been that one stop platform, commerce platform, we do retail, we do hospitality and as you said, golf. But you know, how we differentiate is we we've gone beyond the point of sale, we've gone into lighting up the digital strategies, because it's, it's more important than ever, to be able to go beyond just your physical business. And we saw that during COVID, you know, deliveries, important ecommerce, online booking order ahead, all of these different workflows are just key to the success of a business going forward.

31:13
But let me ask you, you've had to do a huge number of acquisitions, a lot of times smaller companies that do a lot of acquisitions, it gets difficult, and you start to think, Well, wait a second, they're fast growing, but are they managing to be able to meld all these different companies, the last few acquisitions, I think, have been great, but you need to do some work and you settled down?

31:34
Well, I think that what this has been a unique opportunity in the market, it's commerce is radically changing, you know, we're not going to be doing business in our retail stores and hospitality businesses, you know, post COVID. And so now is a great time to bring a lot of the best and breed players together under the lightspeed banner. So we did shopkeep, we did vend, we did observe. These are well known names around the world for for retail and hospitality. But we also just recently did some very forward looking acquisitions with new order, which is b2b supply chain for these merchants and equity, which is digital first e commerce strategies. And that's a that's that's understanding that, you know, and you've said it on your show, many times, if you don't have the supply, you're not going to be successful, SMB. So now we've got the scale, we've got 140,000 merchants, because we brought all these other companies together, the shop keeps events and the observes. But now we've got to make sure that these businesses have supply. And we and they've got to have the right digital strategies as well. So all the pieces are coming together for us being this one stop platform for the future of commerce.

32:37
Okay, so my company came in via observe, we good customers observe. And we were delighted to have to work with the new lightspeed people. But let me ask you, how many of the observed clients have you and also of the other companies that you bought? Have you been able to keep up because you know, it's a big world and some people just that's an opportunity, right, then for toast to move in? Or to move to time for square to come in? How are you? How sticky are these customers.

33:03
So these customers are well established, and you're one of them. So you're a stout, you're an established business. And you're doing significant significant volumes, our our customers are doing north of 600k in annual revenue, and they want solutions that are fulsome, that that are going to meet all of their needs today, and also going into the future. So they're, they're less likely to turn because of because they're well established. And they want to make sure that they have lots of room to grow. And so slight speeds become it's always been an aspirational system. But what's what's changed about lightspeed is it's gone from a nice to have, because it's got all these digital strategies that's become a must have, it's become an absolute necessity to have a system like this. And it's not whether whether you're whether you're going to do the digital piece of the puzzle, it's, it's now you must do it, and you and you're going to thrive by making sure the businesses that you run are, are well rounded and resilient. No matter how the economy changes and how consumer tastes evolve.

33:58
Now you have both, I think good relationships, both of this with stripe, and with Google. This is not easy. And they seem to be getting stronger and stronger. Those are sprite I don't think people know how powerful stripe is because it's a private company. But these are relationships. Have you personally cultivated them because I find them to be amazing to a retailer or to restaurant her.

34:21
Well, that's that's that's the special part about where we are right now, in terms of our skill. You know, we are, you know, Google came to us because we are representative for physical retail. You know, there's there's no company that you would come to that's in the new school of cloud players than lightspeed to really do be able to do what we did with Google. It's a first of its kind partnership in order for it for these retail businesses to be able to show local inventory. You know, that's how we were able to innovate with with Google and seeing with stripe, being able to innovate for these omni channel businesses. They're doing some online and some in store. You know, we're doing a lot of these experiences with stripe for the first time in the market. And so a lot of these big players are noticing that lightspeed is is pushing ahead. Because of its scale. And because of it's because of the needs of our innovative customers pushing ahead much quicker than others. And so when we ally with these big companies, we're able to do remarkable things for our business for the businesses we serve.

35:19
Well, I wish I could demonstrate to people everything these guys do, but they do have a great website, and you can see everything that they provided to me, including the dashboard, everything that they do. This is a small business gem. And there are a lot of small businesses and they can't compete with the big guys without an outfit like lightspeed. So DAX desilva, the founder and CEO of lightspeed, thank you so much for coming on man money. It's great to meet you. Thanks so much. Right? When a sale is a great battleground, and we deal with a lot of the companies like the square, and we deal we've had clover on before it got merged. And I hope that you understand that this is a great growing area, but you got to do the work because these are expensive stocks, man monies back into the brain. Stick around, man make a suggestion. I would stay with

36:05
the lightning round is coming up next. It is enlightenment. And then the lightning round is over. Are you ready, Steve? muster with Greg in Texas, Greg. Hey, Jim. Morrison this afternoon. Regarding trade.

36:36
holding this symbol t acmt. Oh, I'm not a fan sir. I really think that if you want growth, you want t mobile if you want income, you should go with Verizon. That's just when you're by the way. I'm actually willing to say Chevron for for you. Let's go to Kelly in Nevada Kelly. Hello. Hi Kelly. How are you? I'm doing well. Thanks for taking my call. Sure. I was wondering about I wonder if you could give me some advice on at core secure actr Yeah, steel tubes wire it's a great pasties. Let's have them one because it's the kind of stock that works here, but I got to have more and I got to see the whites of their eyes. Let's go to Matthew in California Matthew.

37:18
Jimmy chill Yo, all hope I hope you enjoy go join the FOMO the garden looks amazing. I hope my portfolio grows just like he just made my day thank you I needed it. What's up? They probably thought about the rival ticker ARV.

37:34
Oh, wow. Another one look arrival in Fisker. I hit lucid. I gotta tell you know which one I like best. For? I think we stopped buying for you. Hey, by the way, I like Tesla, Daniel. I know I speak to Ross Gerber today, good interactions on Twitter. And we both think that Tesla's the right level, Appleton gene and California gene. Well, hello there Dr. Kramer. Corporation, symbol t. e. r. s. Doctor work with them. Alright. Now I understand this is a very, very mean those of us who have unfortunately had to deal with someone or live with that had that needed the safety of a blood transfusion. All I can tell you is this is a very niche speculative business where they're not making a lot of money. I'm gonna say no, I need to go to Kevin in Texas, Kevin

38:24
Smith and Jim Cramer. Wow. chills like it was proved to be so helpful. And the fundamental analysis and education that you share truth and helping other people and I'm calling the day for your thoughts on cement, stock symbol ca.

38:39
I like I do a lot of business in Mexico. I like C next. I actually think it's a really great spec what's you know, today doc stock so of course, but but this is a great play on infrastructure. It's also a great play on a country that I think is not nearly as well. A lot of people feel Mexico is a failed state. I am a believer Mexico. I think c Max is good. I need go to Kevin in New York, Kevin Cramer, how I am good. How are you? I'm not too bad. I recently bought a little bit over $16 don't know by now but you know, understand this is a company that has not had a great record of success. And it is a museum. It does do a lot. It's a biotech company and immunotherapy biotech company. There are a lot of other companies that do the same thing that I like a lot more than quitting whether or not Mone Turner. How about Josh in Colorado, Josh?

39:37
Hey, how's it going? Man, Josh, thank you. How are you? Pretty good. Longtime listener first time ever calling you.

39:50
Man, this is really cool. Cool. How do I help I have I have a million thoughts that could be asking you about mistake one.

39:58
I got one. And then I'm really interested in because I play poker on my phone. Gotcha finger and Zynga, Zynga stock and that was good other lightning round.

40:13
The lightning round is sponsored by TD Ameritrade up with the alphabet soup, whatever pattern the recovery makes on the charts. Cramer is focused on helping you grow your portfolio. Mad Money. We'll be right back.

40:33
Jim Cramer, you are one of my heroes. I look forward to your show every week night. Thank you so much for helping

40:41
beginning investors like me, when you talk about the markets. I just believe that you're spot on.

40:47
I love it. Thank you so much every night we want to I have learned and earned

41:03
it kind of feels like we've been through the whole darn alphabet with this recovery, doesn't it? I mean, think about it. First. What do we have? We had the L we thought a B and l just a flat line up this is not luv Southwest here. I love that stock though. A flat line where the economy limps along the bottom right? And maybe for years because the COVID because when we could solve it, then it miraculously became a you last spring when Congress passed the gigantic stimulus package. And the Fed started effectively backstopping corporate bonds to prevent companies from going bankrupt and many of them would, then that you turn it into a V, a rapid decline, then followed by an equally rapid recovery. Only the real optimist believe this could happen. By the way. Once we started getting our hands on some powerful COVID vaccines much sooner than expected, think modern and Pfizer. But now I think you know what, we had to retire the whole alphabet wasn't the alphabet at all, because there's no letter that describes this trajectory. Turns out the economy is more like a checkmark. We're many businesses are now doing better, right here doing better than they were in 2019. The last full year before the pandemic hit, I find this to be marvelous. Every day, we hear another one of these stories last night it was Levi's which reported magnificent quarter, thanks to the start of the damn cycle, aided by the fact that 35% of Americans changed waist sizes during the pandemic. That's unheard of never, never happened. Suddenly, you have millions of people who can't fit into their old pants require new ones by the way you said it was some were smaller and some are some were bigger. When you're when you're stuck at home. You can get away with wearing stretchy casual wear. But once you go back to the office, you got to put on real pants, the kind that actually need to fit. What else is driving the checkmark recovery. We know that the paycheck Protection Program allow lots of struggling businesses to stay alive. But how about the ones that were struggling? between all the newly available storefronts and the bountiful credit, the winners have been able to get bigger outfits like the very liquid very profitable, authentic brands was just coming public have golf gala forever 21 and even JC Penney closing holes that have been driving customers away from the mall for ages. It's one of the reasons why the malls are doing so well. By the way, they picked up Brooks Brothers and Barney's to the so called animals the best ones are actually healthier than they were when the pandemic got rolling a total anomaly. Nero wants you to think about Simon properties which I liked so much. Oh, and speaking of anomalies, the hybrid workplace has given wealthier families an excuse to double their footprint. Oh second houses easy to come by with mortgage rates this low. And it's not exactly difficult to get a home equity loan in order to turn an extra room into an office like you have to continue to send in some e commerce has created a massive amount of warehouse construction. We rarely think about everything that goes into the logistics of selling everything online. But that business is booming and requires a lot of equipment to make that stuff. Hey, by the way, meanwhile, we're building a ton of infrastructure to export oil, gasoline and other petroleum byproducts. The last stimulus package contains a gigantic child tax credit, and that ensures that this will be the strongest back to school season in history check mark in the bipartisan infrastructure bill can pass the Senate that will create incredible demand for heavy equipment. This steel tariffs have our Mills running flat out our pathetic electric grid and demand for clean energy it put a whole new cohort to work. And of course, here's where the tech investment got pulled for by the pandemic. All these changes have created a staggering boom producing a fabulous check mark economy that almost no one saw coming. There's only one thing that can stop it at this point, a big spike in COVID infections, because people in certain parts of the country don't want to get vaccinated. They even get mad at me on Twitter for saying I think it's good to get vaccinated. The new Delta variant is virtually unstoppable without the vaccine just trying to help people here, but I'm skeptical it will cause another shutdown anyway because the most vulnerable states, the ones with Laura's vaccination rates are also the ones most hostile and posing new COVID restrictions. So they won't they shouldn't really hurt the economy. However, the rest of the world is much slower to embrace the vaccines not doing as good a job as we did. So if Europe and Asia get hit that could hurt us, but unless the Delta variant appends the entire global economy, I think the check mark is here to stay. And that's very good news, despite all the hand wringing about how we don't have enough workers and out of control wage inflation. You know what I call that a high quality problem when people ask you what kind of recoveries now when you say Cramer says check mark. I like to say there's always a bull market somewhere, and I probably try to find it just for you right here on Mad Money. I'm Jim Cramer. See you Monday. The news was Shepard Smith starts now.