On Thursday, April 3rd, the host of Mad Money opened the most recent show by addressing the growing concerns surrounding the current tariff policies. He questioned the effectiveness of these tariffs as he asked:
“What’s the deal with these heavy-handed tariffs? Look, I’ve never been a dogmatic free trader. I believe in fair trade, a pretty fierce belief just so you know and we can only get that by lowering the boom on our trading partners who rip us off as a matter of policy.”
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
Cramer explained that while he has always supported the idea of tariffs in principle, especially when they are part of a well-thought-out strategy, he expressed frustration over how the new trade regime is being executed. He said he was taken aback by how poorly the administration was rolling out these changes, which he felt lacked a clear and coherent plan. Cramer then pointed out what James Surowiecki, the author of The Wisdom of Crowds, said about how the White House is calculating tariffs.
“The White House simply took our trade deficit with each country and then divided it by that country’s exports to America. Then they cut that number in half to determine the tariff rate we’d be slapping on the country in question.”
Cramer noted that just hours later, an unnamed official from the White House confirmed this and described it as “the sum of all unfair trade practices, the sum of all cheating.” Cramer called it ill-advised. Later in the day, President Trump made a statement suggesting that he might be open to reducing tariffs if presented with “phenomenal” offers. However, Cramer raised an important question: “Who determines what those offers are, and what do they even mean?” He admitted that he had no clear answer to that question.
“Here’s the bottom line: I wish I could get behind this new tariff regime because I’ve never been a free trader ever. But the White House doesn’t seem to understand what it’s trying to do and the not-really-reciprocal tariffs we got yesterday could do tremendous damage to the US economy, of course including the stock market, without changing the bad behavior of our trading partners. To me, this has become a lose-lose, which is very tough to accept because I wanted tariffs to change things, not to wreck things.”
Our Methodology
For this article, we compiled a list of 11 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).
11. The Goldman Sachs Group, Inc. (NYSE:GS)
Number of Hedge Fund Holders: 81
Goldman Sachs Group, Inc. (NYSE:GS) is one of the most prestigious investment banks and financial services firms in the world, known for its strong trading, asset management, and M&A operations. When asked about the stock last year, Cramer backed the company with confidence, brushing off concerns around CEO David Solomon and suggesting that the firm’s performance was more than holding up at the time.
“I would sell a quarter of it now. Why would I not be more aggressive on the sell side? I think the numbers are going to come through great. I’m more worried about a market pullback than I am about a pullback at Goldman Sachs, which I think is going to have a terrific quarter, and it’s just been smoking hot. And that David Solomon, that he’s not doing his job, oh that stuff was nonsense. They are doing fabulously.”
Goldman Sachs shares are up 30% since then, validating Cramer’s bullish view.
However, since The Goldman Sachs Group, Inc. (NYSE:GS) experienced a significant pullback in recent weeks, Jim Cramer has been a lot more reserved about the stock’s potential moving forward. Here are his comments from the 13th of March:
“The plummeting stock market means fewer IPOs, which is another big source of business for Goldman. So that’s why the stock’s come down 22% in the past few weeks… I think much of the risk may already been baked, not all of it, baked into the stock price. When Goldman peaked last month, it was trading at 14.5 times this year’s earning estimates. Now it’s trading at roughly 11.5 times this year’s estimate although the estimate’s probably come down.
Why stick with Goldman in the face of this newfound uncertainty? That’s an excellent question. Here’s my answer because I think it’s too soon to give up on merger mania… Meanwhile, some of the softer economic data has caused long-term interest rates to come down and that should be a boon to Goldman’s debt underwriting while also encouraging more mergers because many of these deals are paid for with borrowed money. Finally, I think Goldman’s best-in-class sales and trading operation… could be in a position to make a killing and miss all this volatility that we’ve seen over the past few weeks…
Look, if I’m right about that and I’m pretty confident about the thesis because these Goldman professionals are the best at what they do, then that strength could offset some of the softer performance from the traditional investment banking side. So for all these reasons, I’m still comfortable with Goldman Sachs, but I do think the stock could go lower because the market’s awful. Alright, but I like to buy low. I like to sell high.”
10. Barrick Gold Corporation (NYSE:GOLD)
Number of Hedge Fund Holders: 44
Barrick Gold Corporation (NYSE:GOLD), one of the world’s largest gold mining firms, has been a go-to name for investors seeking stability amid inflation and market volatility. Cramer expressed a clear preference for the stock last year, specifically pointing to the strength of its leadership.
“Barrick gold, one of the largest gold miners on the planet, my go-to pick because of the CEO Dr. Mark Bristow, who’s one of the best operators in the industry.”
Since that call, Barrick Gold shares have risen 17%, as the stock benefited from a resurgence in gold prices and strong production metrics.
However, Cramer is still not fully satisfied with the performance of Barrick Gold Corporation (NYSE:GOLD). Here are some of his comments from the 4th of March and 3rd of April:
“It’s killing me that that thing isn’t moving. It’s not doing what I thought it should. So that’s why I’m saying pivot to Agnico Eagle. That’s the one I like. Agnico Eagle.”
“Golds are working. I’ve got Barrick. I think Agnico’s the better one.
9. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
Number of Hedge Fund Holders: 68
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a biotechnology company best known for its treatments for cystic fibrosis and other serious diseases. During a segment last year, Cramer highlighted Vertex’s franchise strength and dismissed fears around its diversification efforts.
“Vertex is terrific. I love it. The CF [Cystic Fibrosis] franchise is just amazing; it’s such a horrible disease. I think Vertex is very, very good. People worry about the pain medicine; I’m not.”
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has gained 16% since then, underscoring investor confidence in its existing pipeline and future innovation.
Jim Cramer continues to show his support for the biotech company, as evident by his most recent comments from the 14th of March where he praised their new drug saying:
“Vertex has got revolutionary anti pain drug.”
8. Cava Group Inc. (NYSE:CAVA)
Number of Hedge Fund Holders: 47
Cava Group Inc. (NYSE:CAVA), a fast-casual Mediterranean restaurant chain, was viewed by Cramer as a younger version of Chipotle when he recommended it last year. He praised its growth potential, even if valuation looked steep at the time.
“I like Cava right here, to be honest, I like Cava. I think it’s a terrific situation, it’s come down from a high, it’s got great fundamentals, long-term growth, feels a lot like Chipotle did when Chipotle started. You’re not going to find the stock to be ever really cheap, it’s got too good a bloodline to have that happen.”
Cava shares have jumped 24% since his comment, as the company continued to scale rapidly and impress investors with its unit economics.
The host of Mad Money remains bullish on Cava Group Inc (NYSE:CAVA) and considers the stock a long-term pick, according to his comments from April 2:
“I think it’s an excellent long-term, what we call a regional-to-national story. They had 367 locations at the end of last year, and their stores are doing very well. They’ve got a ton of room to expand from a regional to a national player — that’s right, go all over the country. For the record, Chipotle stock was never cheap either. I don’t see any signs of the concept losing momentum. When Cava reported its latest quarter, it delivered 21% same-store sales growth — for heaven’s sake! Now the stock’s down 55% from its high, you have my blessing to start buying Monday. And if it keeps falling, you know what you should do — buy, buy, buy!”
7. Corsair Gaming, Inc. (NASDAQ:CRSR)
Number of Hedge Fund Holders: 17
Corsair Gaming, Inc. (NASDAQ:CRSR) makes high-performance gaming gear and PC components, popular among streamers and esports players. When a viewer asked about the stock last year, Cramer dismissed it outright with a joke, making it clear he didn’t see investment value in the name at the time.
“Corsair? This is why you’re a first timer into the final four, because you come to me with Corsair. I thought you would give me… if this was football you would have come to me with Nvidia. I have to say XNAY on that one!”
Cramer’s call was spot-on. Corsair shares have fallen 28% since then, due to ongoing weakness in consumer PC spending and increased competition.
6. Royal Caribbean Cruises Ltd. (NYSE:RCL)
Number of Hedge Fund Holders: 58
Royal Caribbean Cruises Ltd. (NYSE:RCL), one of the world’s largest cruise operators, saw renewed investor interest as travel demand surged post-pandemic. Cramer was quick to highlight its market leadership and stock momentum last year.
“Royal Caribbean has been a real horse; the cruise line has outshined all of its competitors, rallying from below $80 last October to $138 yesterday, but today it was down five points. […] I think people are just looking for an excuse to ring the register on what’s become a very strong stock.”
Since then, Royal Caribbean stock has climbed another 44%, making it one of the standout performers in consumer discretionary.
However, Jim Cramer has recently addressed the slight turbulence that the cruise industry is experiencing and used the company’s CEO bullish outlook as a way to rationalize the recent dip in Royal Caribbean Cruises Ltd (NYSE:RCL)’s stock price. Here’s what he said on March 12:
“When he came on the show last week, first, Liberty confirmed that its… consumers perceive Royal Caribbean cruises as a better value than a land-based vacation, reinforcing my view the cruise lines can still do fine even in a softer economy. Second, he cited its own bookings and on-ship spending data from recent voyages, saying matter-of-factly, ‘that cash register continues to ring and be consistent.’
Finally, looking at longer term, Liberty noted that, this is so important, understand this major, major ratio, the new supply, meaning new cruise ships, should continue to be limited for the next few years, which is positive for the entire industry’s pricing power. At one point you see the pricing power go down when they have a lot of ships coming. Plus, altogether, I feel really okay about the cruise lines, Royal Caribbean in particular. This had a 25% pullback from its recent high, stock now sells for a very… undermining 14 times earnings. I like that.”
5. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 115
Eli Lilly and Company (NYSE:LLY), a pharmaceutical powerhouse, has dominated headlines for its blockbuster GLP-1 weight loss and diabetes treatments. Last year, when the stock briefly dipped, Cramer urged viewers to consider it a buying opportunity.
“Eli Lilly down 20 bucks. Why? The only news is good news; broke ground for a new $2.5 billion plant in Frankfurt, Germany to make Zepbound, their GLP-1 weight loss drug. Call me a buyer if the dust settles.”
Since that segment aired, shares have recovered and risen 7%, validating Cramer’s call and investor confidence in Eli Lilly’s pipeline and growth outlook.
Jim Cramer was asked about Eli Lilly and Company (NYSE:LLY) recently and he didn’t hold back in expressing his support for the company’s CEO and how high his conviction is on the stock. Here’s what he said on the 2nd of April:
“You don’t sell Lilly. Lilly’s got the solution that may be good for everything from Alzheimer’s to heart disease, kidney failure, liver problems, and right now, weight and diabetes. And that’s at GLP-1, and Lilly got the big lead. David Ricks is a visionary. We stay long that stock.”
“I think that Eli Lilly is probably one of the least tariffed, least dangerous stocks. It does have a high dollar amount, $818, but I remember what Ken Langone told us, he’s the greatest, greatest investor that I’ve ever dealt with. He says, own Eli Lilly, going to a trillion dollars… I am with Ken Langone.”
4. FMC Corporation (NYSE:FMC)
Number of Hedge Fund Holders: 48
FMC Corporation (NYSE:FMC) is a crop protection and agricultural sciences company. Cramer was critical of the stock after it delivered disappointing guidance last year, warning viewers about its weakening fundamentals.
“FMC, up 6%. I took it, you know I looked it up, and I see one of the most horrendous shortfalls of the year at the beginning of February when FMC said its first-quarter earnings would be 21 to 43 cents; Wall Street was only looking for a buck a one. Man, that is really a shortfall. Shortfall is actually putting it lightly; that’s a longfall. The stock was at 119 last year; it’s now at 64. I’m not interested.”
FMC stock has collapsed 33% since then, confirming Cramer’s concerns about poor visibility and execution.
Jim Cramer acknowledged FMC Corporation (NYSE:FMC)’s fall in a more recent episode and shared his thoughts on the situation, saying this on the 5th of February:
“There’s a company called FMC. And that’s an agricultural company. It’s an old food machinery company, it’s based in Philadelphia. And the stock is down 35% today because they have inventory problems. Too much of the crop chemicals used for . . . corn, potatoes, and sorghum. I just remind that there are certain industries that are in this economy that are seemed to just, I don’t know we have to stay close to ag. That’s a very very bad number. And I’m kind of shocked because it’s a pretty reliable company. But the ag business maybe not as great as we think judging from the fact that they have a lot of insecticides, herbicides. So, stay close to ag.”
3. Honeywell International Inc. (NASDAQ:HON)
Number of Hedge Fund Holders: 67
Honeywell International Inc. (NASDAQ:HON) is an industrial and tech conglomerate with exposure to aerospace, automation, and energy efficiency. Cramer revealed he personally bought the stock on weakness, calling it a solid long-term bet.
“Yes, and it’s funny because we did buy some for ourselves. You know, on down days, I constantly bother Jeff Marks asking, ‘What do we do? What do you think about Honeywell?’ Finally, we decided, ‘You know what? The market is so low today, let’s put a little money to work.’ And we happened to choose Honeywell.”
The stock is now up 12%, a respectable return in a choppy market and a win for Cramer and his team.
Jim Cramer remains bullish on Honeywell International Inc. (NASDAQ:HON) and claims that the recent pullbacks are a good buying opportunity. Here’s what he said on the 6th of February:
“But this is the quarter you have to buy because you’re finally getting the three pieces. The aerospace business is fantastic. This chemicals business is of course a little bit better than the GDP. And then you have this automation business which has been a disappointment.
“For aerospace, they have the cockpit. They have a lot of intellectual property in a plane. They have obviously some service, I think that you do want to emulate. Now remember they’re in every plane. They’re in Bombardier, Airbus, they’re in Boeing. They’ve got a hammerlock on the group. Dave Cote put that together and I like that business. You may to just say, old your nose and buy. If you get that business.”
“That factory automation, David the warehouse business, that was bad. That was bad. . . That’s been a loser.”
“I’m totally with you. Which is why my trust owns it. We’ve been selling higher. Now I’m going to buy it back or hold on.”
2. Lululemon Athletica Inc. (NASDAQ:LULU)
Number of Hedge Fund Holders: 60
Lululemon Athletica Inc. (NASDAQ:LULU) is a leading athletic apparel brand that’s long been a market favorite. But last year, Cramer stepped away from the stock after a string of unimpressive quarters.
“Lululemon, I’m all in on Lululemon, and I have been for years, but I must admit that the numbers in the last few months were not good, not up to snuff for Lulu, so I pulled back on Lulu.”
His decision to pull back proved timely as Lululemon shares have declined 27% since then.
Although Lululemon Athletica Inc. (NASDAQ:LULU) continues to face some struggles in recent months, Jim Cramer is defending the company. Here’s what he said on the 4th of April:
“Nike did nothing wrong. Lulu did nothing wrong. These companies they didn’t do anything wrong. They played by the rules. They left China. RH left China. They played by the rules. Why hurt the people who played by the rules?”
1. AppLovin Corporation (NASDAQ:APP)
Number of Hedge Fund Holders: 95
AppLovin Corporation (NASDAQ:APP) is a mobile app and gaming adtech company that saw explosive growth over the past year. Cramer recognized its turnaround early and told investors the stock was just starting to get noticed.
“Man, that thing is a just a monster I’ve got to tell you though it is still not effectively valued and I know this sounds crazy because it is up so I don’t want you to buy here I don’t want you to buy I don’t want you buy. […] I don’t know what your basis is maybe you want to sell half to be able to lock in some things but this thing is doing so well after contained period where it wasn’t that people are just beginning to notice it you were early my friend.”
AppLovin is up a staggering 288% since that comment, making it one of Cramer’s biggest winners of the year.
However, Jim Cramer appeared more sceptical on the stock in more recent Mad Money episodes. Here’s what he said on the 28th of March:
“AppLovin is very controversial. Okay so let me just dispel one thing. When you have Craig Billings as the CEO of Wynn, as the head of the audit committee and also the lead director of AppLovin, then I’m going to believe the financials (inaudible). Is the stock expensive? It did have a great fourth quarter. Should someone else come in and take and take away their gross margins? I would like to go into that business and take them away. That company’s making, I say, over-earning is the biggest problem I have with AppLovin.”
While we acknowledge the potential of APP 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 APP but that trades at less than 5 times its earnings, check out our report about the 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.
