On Tuesday, April 1 , the host of Mad Money opened the show by focusing on President Trump’s tariffs and the economic risks ahead of ‘Liberation Day’. While Cramer expressed sympathy for the President’s goals, he warned viewers that the consequences could be severe for both consumers and the broader economy:
“Now as someone who’s been a huge critic of unrestrained free trade, I am very sympathetic to what President Trump is trying to accomplish with these tariffs. Every other country on earth tries to protect its own domestic industries except America which has spent decades letting foreign competitors steamroll our guys in exchange for cheaper stuff. President Trump is justifiably furious about this he wants to do something about it but solving the problem is going to hurt. We don’t know how much our prices will go up for just about everything, but we do know those tariffs will be used as an excuse to raise prices across the board. It’s been very hard to get a sense of the overall damage.”
READ ALSO: Jim Cramer’s Thoughts on Liberation Day, Tariffs, and 17 Stocks to Watch Right Now, and 10 Stocks on Jim Cramer’s Radar Recently.
But despite understanding the motivation behind the policy, Cramer was blunt about the scale of economic disruption that a proposed 20% tariff on all imports would cause:
“Speaking as someone who’s not a fan of free trade I have to be honest here, a 20% across the board tariff on almost all imports that would be horrendous for the economy. That’s a 20% increase on everything we buy from overseas and we import a huge amount of foreign goods in America, and those goods are cheap because that’s the deal. There’s plenty of competition from these companies but with the exception of the auto industry and those that contribute to it -mainly steel – it doesn’t matter anymore. The truth is the jobs that are meant to be protected by tariffs were automated out of existence a long time ago.”
Cramer mentioned that even the industries that stand to benefit in theory, like autos and steel, aren’t necessarily helping the average American:
“The tariffs aren’t protecting us from anything because we barely make anything anymore. The horses left the barn ages ago. Ford and GM will be able to make more money by raising prices but who does that help besides their shareholders and union members? What’s good for General Motors is not necessarily good for America anymore. All people know is that cars will be more expensive; they don’t care about who makes them.”
He also criticized the administration’s execution, calling out the lack of clarity and coordination behind the policy rollout and questioning whether any American companies will actually be spared from the impact:
“I wish the White House were more serious about making the tariffs work. Our country’s been crushed by foreign imports that are typically made by cheap labor and often subsidized so they destroy our jobs. But the jobs are gone. We had almost a million seamstresses in this country four decades ago now we have almost none; they aren’t bringing back those jobs. Sure, some companies thought they’d be buying immunity by building new factories here, but there’s nothing on paper that suggests that the president will spare them. Is there really no sanctuary?”
Wrapping up the opening segment, Cramer reminded viewers that while many Americans may support a “tough-on-trade” agenda, their real fear is inflation; and it’s inflation that the tariffs will likely exacerbate:
“Finally, most Americans are worried about inflation; not tariffs. That’s what got Trump elected for heaven’s sake. As much as I rail against the devil’s bargain that gave our country the cheap stuff at the cost of domestic jobs, cheap stuff is what America wanted. […] Here’s the bottom line when the book is written on this moment I think we’ll question what we were liberated from on Liberation Day and again I think Trump is totally justified in cracking down on our trading partners but that doesn’t mean it will be good for the economy.”
Our Methodology
For this article, we compiled a list of 10 stocks that were discussed by Jim Cramer during Mad Money episodes that aired 1 year ago between April 5 and April 12. We then calculated their performance for the past 12 months, until April 2nd, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey’s Q4 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them.
Please note that this article mentions Jim Cramer’s previous opinions and may not account for any changes to his opinions regarding the stocks that are mentioned. It is primarily an examination of how his previously provided opinions have panned out.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. Best Buy Co., Inc. (NYSE:BBY)
Number of Hedge Fund Holders: 38
Best Buy Co., Inc. (NYSE:BBY) is one of the largest electronics and appliance retailers in the U.S., with a strong footprint in both brick-and-mortar and online sales. Cramer was bullish on the stock when a caller asked him about it last year, pointing to a coming wave of PC upgrades and a reliable dividend as reasons to buy at the time.
“Okay, Best Buy. I like Best Buy because I believe we’re going to see a radical refresh of PCs come this fall, and it’s well, actually, it’s going to start in July, and people aren’t focusing on this. They’re making a big mistake. The PC refresh cycle is going to drive Best Buy higher. Meantime, you’re going to be protected by the yield.”
The stock has since fallen 21.5%, as consumer interest in big-ticket tech items faded and the expected PC boom never really showed up.
However, Jim Cramer recently admitted that his charitable trust has sold its holdings in the stock and explained the reasons behind the price drop. Here are his comments from March 21st:
“Of course, I want to be empirical here. Some industries will be hurt badly because they have a huge concentration of products from overseas. We sold our Best Buy for the Charitable Trust because of the tariffs.”
9. Block Inc. (NYSE:XYZ)
Number of Hedge Fund Holders: 81
Block Inc. (NYSE:XYZ), the fintech firm behind Square and Cash App, was a favorite of Cramer’s last year when he defended the stock against Wall Street’s criticism. He was confident in the company’s leadership and suggested it was a buying opportunity despite recent analyst downgrades at the time.
“I am not thinking that this is the right thing to downgrade the stock. If anything, I’d be upgrading the stock. This company is incredibly run, and I didn’t buy into the negativity that we saw in the downgrade. No, not with this management team. It’s too strong.”
Since then, the stock has dropped 32.2%, as profitability concerns and ongoing macro pressures weighed on investor sentiment.
Despite the recent struggles, Jim Cramer has always been a fan of the company. Here’s what he said on March 27th:
“Okay, Block, you know, we had Amrita Ahuja on when we were out in California last weekend. This is a very quizzical situation because they missed the quarter twice. But you know what? It’s come down so much that I gotta think it’s the right price to buy. I’m going to say buy. Buy half right now, and then if it breaks down below 53 and then you can buy more.”
8. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders: 45
Ford Motor Company (NYSE:F), the iconic American automaker known for its F-series trucks and expanding EV lineup, was one of Cramer’s picks last year when he saw early signs of a comeback. He acknowledged the stock lagging behind GM but said the story was still compelling at the time.
“Well, I think Ford’s doing well. I mean, but you know why’s Ford at $12? It’s uh, the stock’s starting to come back. It has underperformed GM, but it is up 10% for the year, and I don’t think that that’s all that bad. I do think that GM up 23% must make Jim Farley feel like, wow, I got to do something, but I do like the story.”
Ford is now down 30% since that call, as EV execution issues and broader auto market pressures have stalled the stock’s momentum.
Jim Cramer remains a believer in Ford’s stock, based on his most recent comments from the 3rd of April when he said:
“Powell’s smarter than people realize. Powell has the same data I have from Ford and GM. He knows that once they’re through the inventory and they have to raise the price, then no one’s going to buy! Because they would have already pulled through. And they won’t have the money. So you have to cut. It’s a natural cut.” “Ford’s barely down. They’re gonna have a great month.”
7. BlackBerry Limited (NYSE:BB)
Number of Hedge Fund Holders: 23
BlackBerry Limited (NYSE:BB), the former smartphone giant now focused on cybersecurity and IoT software, was dismissed by Cramer when a viewer suggested it might be a growth stock. At the time, he gave a sarcastic response that made it clear he had no confidence in the name.
Asked by a caller if he thought BB was a good growth pick, to which Cramer replied with:
“No no no not at all. I was thinking, I happen to have a Blackberry for lunch and that didn’t taste that good either.”
Since then, BlackBerry shares have rallied 34%, proving to be a surprising winner thanks to a resurgence in small-cap tech interest and the company’s successful pivot to AI enhancements of its services.
Although the stock has done well over the past year, Cramer remains unconvinced. Here are his latest thoughts on the stock from the 4th of March:
“Blackberry’s a dice roll. I mean like, you know, it’s like 4, 3, 2, 1. I don’t know what it’s gonna do. This one is just a total spec. Nothing more than that.”
6. Eaton Corporation plc (NYSE:ETN)
Number of Hedge Fund Holders: 88
Eaton Corporation plc (NYSE:ETN) is a power management company deeply embedded in industrial electrification and data center infrastructure. Cramer had called it one of his Charitable Trust’s top picks last year, citing its role in reshoring and U.S. industrial revival at the time.
“As for Eaton, it’s my Charitable Trust favorite industrial because it’s involved in the reindustrialization reshoring of so many industries and it dominates the non-tech part of the data centers.”
However, the stock has slipped 18.7% since then, as industrial demand slowed and capital expenditure plans were dialled back across key sectors.
During a show that aired on the 4th of March, Jim Cramer expressed his disbelief at the company’s disappointing performance, saying:
“It’s unbelievable… It is unbelievable. That quarter was not that bad. I can’t believe what’s happened to the stock. I was talking with Jeff Marks today. We think it should be bought and bought right now.”
5. Chipotle Mexican Grill (NYSE:CMG)
Number of Hedge Fund Holders: 83
Chipotle Mexican Grill Inc. (NYSE:CMG), the upscale fast-casual chain known for burritos and its cult following, got Cramer’s vote of confidence ahead of its stock split last year. He emphasized the strength of the business and encouraged buying on post-split weakness at the time.
“Chipotle, I care more about how the company’s doing than the split itself, and the company’s doing incredibly well. I do know that after the split, I wouldn’t be surprised if people got extra shares they say, ‘Oh, I got so much Chipotle, I’ll sell some,’ so I think you could buy some here but in the wake of the actual split, uh, it’ll run up into the split, and then it will probably go down.”
Since then, however, the stock has slipped 13.5%, as elevated valuations and slowing traffic trends weighed on performance.
Nevertheless, Jim Cramer remains optimistic about the restaurant’s prospects. He had this to say on the 26th of March:
“Chipotle? Alright, so Chipotle, I don’t want to be a weasel here, but it sells at 38 times earnings and that kind of stock is going to take a little bit of heat just because the market’s going to be down off the tariff news. But it is the kind of stock you would buy after the tariff news is digested and it’s, but it is gonna feel like it’s, you’re digesting something that’s real bad tasting.”
4. Signet Jewelers Ltd. (NYSE:SIG)
Number of Hedge Fund Holders: 28
Signet Jewelers Ltd. (NYSE:SIG), the parent company of Kay, Zales, and Jared, was touted by Cramer last year as a turnaround story under CEO Gina Drosos. He admired the low valuation and improving fundamentals at the time.
“Under the leadership of CEO Gina Drosos, Signet has become a phenomenal turnaround story […] the stock trades at less than 10 times this year’s earnings estimate. […] Signet looks real good right here right now.”
But Signet has cratered 47.6% since that endorsement, with weakening jewelry demand and consumer caution slamming the stock.
Although Jim Cramer remains a fan of the company’s CEO, he admitted that the company has been failing, saying this on the 14th of January:
“[on Signet dropping after holiday guidance]Yeah, look, I don’t know, they lost Gina Drosos [laughs]. I think she was a remarkable CEO. And I think this is a very CEO-led company. This is not a given when it comes to jewellery.”
3. SoundHound AI (NASDAQ:SOUN)
Number of Hedge Fund Holders: 21
SoundHound AI Inc. (NASDAQ:SOUN), a voice recognition software company operating in the crowded AI space, was quickly dismissed by Cramer last year despite a brief surge tied to Nvidia’s investment. At the time, he wasn’t impressed with the stock’s volatility or fundamentals.
“SoundHound AI, no, I mean, this thing is, I know what happened, Nvidia put a little money with it, it spiked up, and then it’s been drifting down, down, down, trades furiously in after-hours trading. I do not think you should own the stock.”
Since then, the company’s shares have exploded 64.4%, driven by renewed AI optimism and speculative buying in small-cap tech.
Surprisingly, Jim Cramer has not changed his opinion on the stock ever since. During an episode that aired on the 14th of March, he doubled down on his call saying:
“I think it’s a meme stock and I’m just going to call them as meme stocks from now on because… look, you can’t really value it… I can’t help you with something like SoundHound, because it’s a meme stock. It’s going to go wherever the meme people want it to go and good luck with them.”
2. The Trade Desk Inc. (NASDAQ:TTD)
Number of Hedge Fund Holders: 63
The Trade Desk Inc. (NASDAQ:TTD), a leader in digital ad-buying technology, was praised by Cramer last year for providing a strong alternative to Google’s ad auction ecosystem. He applauded CEO Jeff Green’s strategy and believed in the company’s long-term upside at the time.
“I have to tell you I like Jeff Green and I want to tell you that I think that the Justice Department’s case against uh Google is actually hurt by how effective Jeff Green is because he’s such a great alternative to using the auction system of Google so I think trade desk is great once again Dave brings us some terrific stocks.”
Shares have since dropped 43.5%, pressured by a pullback in ad spending and rising competition in programmatic platforms.
Although Cramer acknowledged his bad call more recently, he also made another bald call in the most recent show that aired on the 1st of April. Here’s what he said:
“I kept thinking that Jeff Green is going to make a comeback. He’s got a new system he’s pushing in. And I’m going to say this. I’m going to go there. I think at $57, I’m going to go all-in that Jeff Green’s got these problems fixed. I am out there. I want Jeff to come on the show, but I am saying at this level, I am with Jeff Green. I am with Trade Desk.”
1. AT&T Inc. (NYSE:T)
Number of Hedge Fund Holders: 80
AT&T Inc. (NYSE:T), one of America’s largest telecom and media conglomerates, has long struggled with its debt-heavy balance sheet and underwhelming stock performance. When a caller told Cramer they had inherited shares in 2016 and asked for his honest take on the management and future prospects of the stock, here’s what Cramer replied with:
“T&T? Yeah, my nanny Mary always said if you don’t have anything good to say don’t say it, so that’s it.”
Although Cramer was never a fan of the stock until then, AT&T Inc. (NYSE:T) has surged by 62.4% since that comment, defying Cramer’s low expectations.
Although Cramer was never a fan of the stock, he finally came around and praised the company’s impressive run and explained the reasons behind it during an episode that aired on the 28th of March:
“Suddenly AT&T has been making a name for itself as a safe haven in a tough market and we don’t have many of those. When investors feel like the environment’s gotten really treacherous, they like to throw their money into something deemed safe. Telecom fits the safety criteria because it’s more insulated from the cyclical nature of the economy. Things have to get pretty darn bad before you stop paying your cell phone bill, don’t they? And also, because these companies tend to pay pretty good dividends.”
So, what’s changed then to allow AT&T to become a winner this year? Well for starters this is no longer the old AT&T that we think about after spending years trying to diversify away from the phone business, which was ill-fated by the way, they finally decided to stick with what they knew best: phone business. Back in September AT&T told us they’re selling the rest of their stake in Direct TV – what a disaster that was – and that comes on top of the Warner Brothers spin-off a few years ago doesn’t hurt that the whole wireless business has gotten less competitive, and that’s allowing all three of the major carriers to steadily raise prices.
But the main reason AT&T stock got its mojo back is that management held an investor day in December and they laid out a very clear road map with healthy growth expectations. It was a breath of fresh air for investors who might have bought this stock for years for the dividend but have seen those quarterly payouts cut.
“At the end of January, they put up an excellent quarter, good subscription numbers, strong free cash flow growth, and management raised their previous guidance that might seem like a low bar but in a negative market like this one, I think a little consistency goes a long way. But the most recent results indicate that AT&T has really turned the corner here.”
So, here’s the bottom line here AT&T’s mainly roared this year as a higher yielding flight to safety trade, but there are also some company specific positives as the company’s gone a long way to turn itself around. At the very least, the stock’s no longer a value trap, which is why it’s been working this year and why I expect it to keep working as long as people are worried about the state of the economy.”
While we acknowledge the potential of T as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than T but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
