Call me or tweet me jim cramer, the battle between truth and fiction plays out every da i in this market, and sadly, fiction usually wins that includes days like today where the dow shed 181 points, s p declined. 76 , nasdaq lost 1. 15 . Last fall, things have turned nasty, havent they . Im starting to see the same old negative on wheat creep back in the market, plagued by imaginary scenarios, we convince ourselves represent reality, and make us say, who needs this nonsense lets just go sell everything and buy some bonds house of pleasure. The first absurdity, the first fantasy, that somehow theres a correlation between the newly weak bank stocks and reality, because these Bank Failures last spring have left a nasty taste in our mouths. The vast majority are doing well in this country. Guess, what they werent doing it anyway. Almost every class of loans is doing great, credit cards, home equity, Small Business loans, even the dreaded Office Building loans are looking good, which are a small part of every banks portfolios there are the new ones with tremendous amenities, lure workers back to the office from home, and old ones filled with support workers that execs are actually in a foot race to terminate. Look, you only need to go on any of the retail Conference Calls yesterday, and today, you know there are some head winds, but the earnings are higher. Were even seeing strong numbers from the Office Real EstateInvestment Trust and upgrades in price target bumps, too. Can we just say this whole low end Office Building crisis is overblown . May not even be a crisis and theres plenty of capital out there willing to buy sub Standard Building and they can make a real deal, you know, what they might be able to turn them into residential houses, you need tax to do that. Enough lies and misinformation about commercial real estate the lies are whats getting painful, not the news, the second set of lies, we are told to fear the stock market because the yield of the tenyear treasury, roughly 4. 25 is closing in on the highs from last october just above 4. 3 . That was the highest its been in 15 years. Ive been saying forever that the economy is actually in good shape. Something the atlanta fed seems to agree with me on because they said the economy is growing, the gdp is growing at a 5. 8 clip, holy cow here we go again we were supposed to fear the stock market when the tenyear offered low interest now we fear it when it offers high interest. Stop bonds, heads you lose, tails you lose, give nme a break the longer term rates, out to 10, 20 years, theyre too low to begin with, versus how strong our economy s. Thats been my view for two years now we need several more rate hikes by the fed, but the bears want to have it both ways somehow lower rates are bad and higher rates are bad in this case, i think higher rates are fine they represent a return to normalcy you need to be old enough to remember what normalcy looks like exhibit a. Now, the third lie is that the consumer is getting weaker no, no, and no the consumer is a changed beast, though she doesnt do what she did before covid because her life is different. She may work at home she may want the convenience of amazon, 375 million packages on prime day. Dont you think that changes the equation about retail and brick and mortar i do as target showed today when it reported weaker samestore sales, it made a boat load of money, home depot on the other hand had a magnificent quarter its been hard to compete them amazon doesnt do a great job of selling houses, washing machines as ceo ted decker explained on home depots excellent conference call, quote, our consumer is a homeowner, 80odd percent of them own their homes of tremendous equity value in that home. Great jobs, great income, and its very healthy consumer segment in the overall economy come on, do you trust the people on wall street that tell you everything is bad. Im going with ted becker. I could have gone extremely fine i thought fine was just fine its not a good time for other brick and mortar retailers i wear contacts, i dont know about you. I ordered contact lens solution from amazon, one they recommend, like Everything Else, you know, yesterday evening it was on my deck when i got back from work i ordered in the morning, and there it was its so much easier to buy this stuff rather than going to walgreens and wait for a cart to come open in that plastic case where they have to hide the stuff. I didnt need the stuff. I could have waited a day for the solution so could you so before we decide the consumer is weak, i argue the consumer is just not going to the same place anymore. Everybody loves a bargain, hence the strength of amazon, and tjx, right down the block i got a pair of jeans for 14 bucks. Theyre worth like 140 tjx delivered a monster quarter. Its incredible. I was particularly pleased to see that marshals did well thats where i got my first corduroy suit. Home goods did well too. If youre going to get the stuff for thanksgiving, you got to go now. They run out fast. Fourth lie, china will bring us down eight years ago, the chinese stock market was collapsing every day, and we were told it would crush us now we hear their wayward trust in clown show Real Estate Developers is going to crush us like a nightmare listen to me, i am concerned about the bizarre chinese weakness, but i keep thinking back to what stopped the selling in the stock market back then. Last night, while i was doing my speech for tomorrow, with the people in the investment club, i was trying to figure out what made that selloff stop well, guess what they did, they made it illegal to sell. Now, if they did that here, our Investment Bankers and sharp traders couldnt figure a way around it. In china, it could be made into capital crimes, if the ruling communist party, no one can withdraw money from troubled institutions and they do, they can do whatever they want for heavens sake. But you know its like a communist dictatorship over there. I mean, maybe we dont remember that authoritarian government, you can do whatever you want to change whatever you want im not buying the theory that chinas economy will bring us down im surprised they dont give life in prison for stealing money. Maybe they will. The Chinese Government isnt eager to air its dirty laundry tech is over, the bull stock market is over the bull is all tech im very sorry, but during our fable chart, we had the legendary williams come to town. Long before the current bout of selling, he made it clear that august would be a tough month for the market, and what did he say . He cautioned p, he cautioned for patience you had to be willing to watch your favorite techs getting hurt nobody wants to suffer through the stocks going down. I was looking at a tape of an old day on cnbc and watched the ticker go by, stocks that might have been sold ten times between then and now if you got spooked, you wow missed out on tremendous multiyear moves. Pa patience plays off and synopsis reported amazing numbers. Well talk to synopsis later in the show think of these fictional narratives, bank is going to take a step. China can take us down with a drowning swimmer, when you go out there and trying to save it, and life saving, and i think these are nightmares that will not be realized. Stephen king is not in charge. Bottom line, lies thrive on wall street, either thanks to ignorance or Money Managers with a vested interest in pushing stocks lower i would much rather bet on the side of the truth. Truth tends to work out. It sticks. The truth is much better than you might think, considering the recent action. I wouldnt find myself bailing here patience is warranted. How about we start out with jerry in missouri. Jerry. Hey, jim, thanks for taking my call. My pleasure, jerry. Whats up . Youve spoken to this company on your show often over the years, you seem to be a fan. But with the tech downturn this month, i want to know if you still consider shopify a good stock to own shopify is the small or medium sized persons amazon for fulfillment, and harvey does a great job. My belief is that shopify is a hard stock to own, i admit that, but longer term, i think its going to be great from all the way down at these levels listen to me, lies thrive on wall street. I would much rather bet on the truth. As far as the inflation reduction act, medicare has given me authority to negotiate directly with Drug Companies in order to lower the cost of medications. Drug manufacturers are finally fighting back. Ill give you my take. And the cnbc investing club, what could a uaw strike mean for the auto cohort as a hole . Im digging into the latest situation. As i mentioned, synopsis announced a big leadership change im running through the announcement and those fabulous earnings so stay with cramer. Dont miss a second of mad money follow jimcramer on twitter have a question, tweet mad tweets or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. The first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. We just got an order from dinosaur, colorado. Start an easy to build, powerful website for free with a partner that always puts you first. Start for free at godaddy. Com nice footwork. Man, youre lucky, thatwatching live sportsst. Never used to be this easy. Now you can stream all your games like its nothing. Yes thats what im talking about. [ cheers ] running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Nice footwork. Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes thats what im talking about. [ cheers ] running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. This has been just a terrific year for vast swaths of the market, not so much the safe, consistent pharmaceutical industry, with the exception of eli lilly, some stunning new drugs, the rest of big pharma has been hammered. J j med j j merck down 15 , pfizer more than 30 over the same period. Now, some of thats because these are textbook defensive stocks that wall street just doesnt like whenever people are more confident about the economy. And people feeling more confident is the story of 2023 especially the last few months, because these are dividend stocks, the yields are much less attractive in a world of relatively high Interest Rates, who needs a risky pfizer, when you can get a 5. 5 from risk free treasury bills. And some of it comes down to the fact that were now 15 months out from the 2024 election president ial elections, theyre almost always ugly for big pharma as drug prices become a political football theyre an easy target in an election year. Look at what happened after the 2020 election. Last year, the Biden Administration passed the so called inflation reduction act, which was really a grab bag of climate investments. Theres also a health care component here that no ones talking about, specifically the ira gives medicare the authority to negotiate direct with Drug Companies in order to lower the cost of expensive brand name medications. They also got new ways to cap drug prices, including rebates for drugs that see price increases in excess of inflation. Thats never been done seems like a slam dunk politically though, terrifying for pharmaceutical companies, and yes, you, the shareholder. You havent heard a lot about these provisions in part because in policy takes forever to implement. It kind of snuck in there, frankly. The government wont even start identifying which drugs theyre going to target until 2026 im bringing this up now because big pharma has started fighting back and pushing back against new pricing rules in court i think they were surprised, too. They were ready. In june, merck sued the department of health and Human Services and the center for medicare and medicaid services, calling the drug pricing provisions in the ira unconstitutional, a sham, and get this, tantamount to extortion. Less than two weeks later, Bristol Myers filed its own lawsuit against the same authorities using similar language a couple days after that, multiple Pharma Industry groups filed their own lawsuit against hhs and the center for medicare and medicaid services. Seems like some sort of staggered rollout. If we saw this 20, 30 years ago, i wouldnt take it seriously precedent is on the government si side the federal judiciary is more conservative, and that goes double for the supreme court, still an up hill battle. What matters is no one seems to be thinking about any of this. I think thats a huge mistake for anyone who owns pharma stocks now, big pharma is going all out here it was filed in different jurisdictions, merricks case is in d. C. , Bristol Myers in new jersey, theyre all pursuing different strategies merck and Bristol Myers claim the drug pricing rules violate the first and fifth amendment. I dont think its a free speech issue, but they have some arguments about how theres not a lot of talk about it the First Amendment feels like a stretch, but the fifth amendment requires the government to pay just compensation, its called a take it, and when it takes private property for public use, merck and Bristol Myers say they are being coerced into negotiating lower prices, they get hit with an excise task. From their perspective, theyre basically being robbed by the government without fair compensation for some it might feel like a stretch, but i think they may get a win with a sympathetic judge. The big pharma lawsuit claims the ira prices violate the 8th amendment, cruel and unusual punishment, but it also prohibits excessive fines, the way the ira works, they have to pay insanely high taxes on the sales of each drug where theyre in violation they probably wont put out the drugs if thats the case were talking about a 65 tax rate on sales, not profits i understand why they keep using the word extortion, but that doesnt mean its unconstitutional in short, the pharma School Industry has an all out legal assault on the drug provisions and no one is covering this, though it could destroy the drug compa companys profitability. The japanese drug maker is filing suit in the Eastern District of illinois similar to the one at Bristol Myers did. Even the chamber of commerce got in on the action in a lawsuit in ohio they should. This is a big business issue precedent is not really on their side, but each additional case makes it more likely some judge somewhere will side with the drug industry, so can these legal challenges boost the downtrodden stocks if they win listen, like the verdict on the french revolution, i say its too soon to tell merck has asked for judgment without a full trial, i dont think theyre going to win that one. According to citys farm analyst, andrew balm, we could get a ruling as early as the First Quarter of next year the timing is important because medicare is supposed to send industry offers of fare prices if merck cant win in court, they can delay the rollout of price controls at best, if theyre lucky, they can get a preliminary injunction, where the judge blocked the new pricing rules, while a full trial takes place when you look at the entire Pharma Industry, i dont see the lawsuits as an attempt to fight the iras drug pricing provisions in court. While they would love to get the whole thing thrown out as unconstitutional, they are run by smart people with smart lawyers. The chance of a clean victory at this point, slim this wave of lawsuits looks like a negotiating strategy for every favorable ruling, the Biden Administration will be under more pressure to backoff maybe they pause the rollout until the litigation is over maybe they will decide to be less aggressive in pushing for lower prices if they can kick the can down to 2025 they might negotiate with a very different white house which is i think one of their major tactics. Thats what they really want what do you do with all of this yourself i think its way too soon to get your hopes up. The whole thing is an uphill battle for the pharmaceutical industry this is a very big but theres a chance they could offer the Drug Companies an up side litigation could be a tail wind for big pharma, not a head wind from plaintiffs who attack them. Heres the bottom line, for the most, most big pharma stocks are out of style on the wall street fashion style, other than cramer eli lilly. I think they will stay that way unless the economy slows down dramatically if any wind up favors the Drug Companies, the whole group is going to catch fire. Definitely worth keeping an eye on if that happens mad money is back after the break. Has United Auto Workers moved the boat, will ford and gm be stuck in neutral . To the ballot box we go, next. fan 1 there ya go thats what im talkin about josh allen is this your plan to watch the game today . hero fan uh, yea. I have to watch my neighbors nfl sunday ticket. josh allen its not your best plan. But you know what is . Myplan from verizon. Switch now and theyll give you nfl sunday ticket from youtubetv, on them. hero fan this plan is amazing josh allen another amazing plan, backing away from here very slowly. fan 1 that was josh allen. fan 2 mmhm. vo for a limited time get nfl sunday ticket from youtubetv on us. A 449 value. Plus, get a free Samsung Galaxy z flip5. Only on verizon. When you get to my age, its always surprising when its been irrelevant for decades suddenly matters again. Take organized labor now, regardless of how you feel about unions, im generally sympathetic myself, when youre investing in stocks unions are the opposition more money for workers means less money for you the shareholder, but the Labor Movement has been so on its back for so long that we havent had to worry about unions in ages. It wasnt a factor the unions had no bargaining power. Lately thats changed, and the best industry, the best example is not necessarily the Entertainment Industry but the auto industry. Over the past month, plunges from 15 and change to just under 12 General Motors from the low 30s to the low 40s and Chrysler Jeep dodge has seen the stock pull back about 13 since the end of july. Despite reporting a pretty good quarter. While much of that comes down to worries about Interest Rates and thats true, costs more to buy a car, i think the real source of weakness for the big three is the United Auto Workers union. They there have been long simmering worries about a strike its not new when i was out there, this is what we talked about i spoke with ford ceo in june, he said all the right things, but it was clear that a potentially strike was still very much on the table normally its not a huge deal for a company with a unionized work force has one of these contract negotiations but of course the whole economy, organized labor has become a lot more aggressive. Much easier for them to negotiate when youve only got 3. 5 unemployment, and thats especially true for the uaw, under the new president sean fain who took over in march. You would think hes the Second Coming of walter ruther, someone you should google if that day Means Nothing to you the day after he took over he said, quote, were here to come together and ready ourselves for the war against our one and only true enemy, multibillion dollar corporations and importers who refuse to give our members their fair share end quote holy cow, that is really even for the uaw. He hasnt dialled back the rhetoric at all, he said, quote, the only real limits we have are the ones we place on ourselves we refuse those limits because they are no limits end quote. Definitely not what you want to hear as a shareholder. How about this one, quote, i have been told im crazy to raise member expectations this high in the bargaining i refuse to allow employers, the billionaire class and sellouts to play on our fears, end quote. The billionaire class. Holy cow billionaire . Im not a billionaire. Just last week, fain took a contract proposal from a respected company, stellantis and through it into the trash, literally. He called it a slap in the face to members who risked their lives to work during covid a mad labor organizer, he has a great sense of showmanship this is mad money. You know this could cost shareholders a lot of money. A highly ambitious set of demands to put it dramatically they want a 46 increase to base salary, pension increases and a 32hour workweek when are you going to make the cars wells fargo published a review of what uaw is asking for. They thought the new contracts would cost each auto maker an additional 1. 4 billion to 1. 9 billion. Now they think it could be more like 6 to 8 billion a year. What happens next . Well, next week, the uaw will formally vote on whether to authorize a strike, and the way things are going, you have to assume they will go through with it then the auto makers and the uaw, will reach a deal, and if they cant get there by the 14th, the workers put down their tools. And a strike can be very expensive. Ford and gm are making 225,000 vehicles a month, each representing 12 grand of earnings per interest, taxes, and i have to tell you something, according to wells fargo, a strike would, get this, would therefore cost gm, 2. 7 billion, and ford, 2. 4 billion, into earnings before interest and taxes. I dont like that. It helps explain where the stocks are to put that in perspective, fords currently guiding for 11 billion to 12 billion operating income this year, so even if we assume a monthlong strike only costs him 2 billion, thats still a big chunk of the profits, and this is an enormous but, im not that worried about a strike by the uaw. Its definitely not a reason to sell auto makers why not . First off, this is a one off cost once the strike is over, its immediately in the rear view mirror wall street carries about the future, not the past s in the strike goes on endlessly, because the people refuse to collectively bargain, its not the end of the world. If the negotiations result in much higher labor costs for the big three, that could certainly hurt their stocks. We havent had a recent example of this that rings through except for a case, a contract that just happened and i am worried about it. Its a contract involving ups. We thought the company had averted disaster when it reached a deal with the teamsters a few weeks ago, averting a strike stock immediately shot up. Since then, we have learned more about the terms of the deal that was reached. Ups shares have slid steadily lower, down 10 since the new labor deal was announced however, this situation is different. Ups was in a tougher spot because the top competitor, fedex was ready, willing to take the business in an event of a strike tesla informed auto makers, might be able to take a share. The big three oems are in this together i dont think the deal will be anywhere near what the uaw is asking for i mean, a 46 raise and 32hour workweek good luck with that. The way i see it, thats his way of playing hardball, which is exactly what negotiators do. You start by asking for the world, and then you cut a deal, you lose some, but if the negotiations truly get contentious and keep dragging on, i would expect the federal government to step in because were talking about an essential industry here. Even though bidens the most pro labor president in generations he industrial broke the Railroad Strike last december the regailroad workers got a god deal when push comes to shove, no u. S. President can let a critical industry shut down for an extended period of time when push comes to shove, i dont think biden would support the extended strike. Hes up for reelection in a little over a year michigan is a swing state, so he will probably give the uaw more latitude than the rail workers finally, lets not forget, the auto stocks are already down huge from their highs, in a very short period of time i think much of the disruption from a strike is already baked down ford is down 22 , 23 in the last month, gm is down roughly 20 , stellantis down 13 in a little over two weeks. Each of the stocks looks cheap, even if you take a meat cleaver to their earnings estimates. At some point, the stocks have come down enough that they will fully reflect any pain from a new labor deal thats unfavorable to shareholders. That said, i dont recommend rushing into either stock, and not going to say that tomorrow at the club meeting. The situation could get worse for a little bit here. The bottom line, if you own the auto makers, dont panic and sell the stocks well off the recent highs most of it is already baked in its so hard, the uaw can push for the white house is likely to step in and force a compromise lets go to tommy in virginia. Tommy. Hey, booyah, jim. I just want to tell you first, you nailed it in the early summer with the tesla chart you put up and recommended it. I went to the moon with it, got out high well done well done. Yeah, i got lucky, i guess. Anyway, i didnt exercise what you preached and tried chasing it back. I got completely out at 280, back in at 260, now im bleeding to death, wanting to know whether i should get out or hold on to it theres a lot of bad news right now about price cuts tesla seems to be cutting price, cutting price, loas long as theyre doing that, its going to go down its difficult to opine and think positively about tesla for the moment, i got to tell you, if you keep taking down your price, youre certainly not going to be able to make the earnings estimates that are out there. If you already own the auto makers, dont panic, most of the bad news is baked in the uaw can only push so hard bf the white house is likely to step in and make a contest im learning more about how the company is infuse king tech int the ev company came public via spac and hit the market with a thud where do i come down on the name i have some fiery thoughts you dont want to miss, and all your calls, rapid fire, the lightning round, so stay with cramer the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Fisher Investments its easy to think that all Money Managers are pretty much the same, but at Fisher Investments were clearly different. other money manager different how . You sell High Commission investment products, right . Fisher Investments nope. Fisher avoids them. other money manager well, you must earn commissions on trades. 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[voice vibrating] most of us have a pretty good understanding of consumer facing tech industries, but when it comes to enterprise industries, it takes a lot more to figure out whats important thats why im here to point you in the right direction, which brings me to a Company Called synopsis, a Software Company that helps Design Semiconductors and electronics systems, design them maybe you have never heard of them its a bit like cadence,who we had on a few months ago. From Artificial Intelligence to the cloud. A strong set of numbers with inline revenue and 14 earns beat off, tech looks so awful. Management also raised their full year revenue. Hence why the stocks rallied nicely in after hours trading, even as the Company Announced some bittersweet news saying the synopsis chairman and ceo will be transitioning to the role of executive chairman at the end of the year hes resigning as ceo. Can he keep climb something earlier today we spoke with art, the current ceo, to get a better read on the situation. Take a look. Welcome back to mad money. Thanks for having me. I dont want to bury the lead, we got news after the close which indicates youll be stepping up to a new role and youve got a new ceo, why dont you tell us a little about him. Its great news so the news to be clear is that january 1st, our president and coo will take the ceo role, and its great because the he has been working at synopsys for the last three years, and we have worked closely to change and evolve the company and scale it because of the opportunities that we face today, and so having him take the mantle, im just thrilled about as he will bring whole new energy and additional push and drive the momentum and drive at this point in time. All great news. Once again, you reported a great quarter. Its been your habit to do so. I think people have to understand, and i want them to know where you play, i think, first of all, people dont understand really electronic Design Automation and they dont understand the key role you play in making it so semiconductors to market. Maybe you can put synopsys in a context, why it can deliver great numbers. Its relatively simple. Many of the new capabilities, the ai, the electronics is based on chips, and those chips take a long time to design, and theyre designed with our tools. Eda stands for electronic Design Automation, and synopsys had the good fortune to become the leader in our field. At the very moment, where the Overall Software market says give me more, faster chips, lower powered chips, more new chips, so theres a natural momentum in the industry, and theres absolutely, at the same time, an additional complication as the chips become much more complex, and more of them together thats where we fit. Im so glad you mentioned low power, the more i talk to companies, the more i realize that they have to get their emissions down they have to become more climate centric. So why dont you tell us how synopsys is doing to make it so the earth doesnt overheat this is a great question, all the more, if we dont do that, and there are more and more chips, they will consume more power, of course, so one of the challenges in designing a chip is always the same is you want it to be really fast or you want it to be really fast or really low power, and the two invariably conflict. The quality of the design, the quality of the architecture, the quality of how you think about the system determines greatly what we can do there and so this has been literally a quest, i would say since the early 2000s. Before that power, nobody cared about, and why 2000s, because mobility certainly said, well, your battery life is going to be horrible if you dont deal with it in addition to that, we have the macro issue of Climate Impact of course this is an area that our customers push on. The system houses, so the people that buy the chips push on, and i would venture to say that a lot of ai will be necessary to find out new ways in all of the fields impacted to reduce power consumption. And therefore, our mission is at the heart of the heart of hightech. Now, lets talk about heart of hightech, we wanted to come back to the united states. We used to be the place where everything was made. I know youre involved with the chips and science act. Of course one of your large customers intel has been a leader in that can we become a leader again in the creation and manufacturing of semis because if that happens, its going to be based on synopsyss work because in many ways youre the intellectual property behind the design to the market you know, in the technology that errwere in, ive always ft if theres a will theres a way, and it takes a lot of will because we have been part of the evolution of the highest rate of change, used to be called moores law in the history of mankind, right, theres a whole new exponential that has started because what were going to do now is take multiple chips and put them really close together actually stack them on top of each other you immediately understand this could be hard to do but the benefits are enormous. And so when there are big changes like that, all nations, all groups van opportunity to say, well, im going to catch up for the next generation. And, you know, when we talk about chip act, we should talk chips act plural because every country has already followed the lead of the u. S. , and the bottom line is certainly everybody understands, hey, chips are important, and the race is on. Now, we keep hearing that intel is really important to you, and i know that it is, but they are not necessarily the leader right now in ai, and youre playing it. Youre very big into Artificial Intelligence who are you working with who do you see shining in that particular part of the business . Well, the interesting thing is there are two types of shining. All the people that develop the software that actually enhances the ai algorithms, right, then all the people that develop the chips that actually can do the computations, and by the way, the more the software evolves, the more the pressure makes the chips faster, please give us more data, which is a good sign, right, this is the one place where unhappy customers is a great sign because they want more but on top of that, theres another world which is the people that take this ai capability and start putting them into the end systems. Like a whole car is an example of that. And, you know, we have now watched with great astonishment and also trepidation how soon can we have cars that drive well autonomously thats an unbelievably complex problem, but the advances are fast, and they very much predicate on how good are the chips going to be. And by the way, are they safe and secure by the time theyre sitting in a car, so theres a lot of team work in this world that actually will make the difference and in high complexity technology, ive always argued that the singular most important and i will is actually good collaboration. Because many things have to intersect. Well, look, i know that one of the things that people should realize, there are not that many collaborators, you are one of only a couple of companies that are in your industry, and you do incredibly well, and i want to congratulation you on all that you have done for shareholders, and i look forward to talking one more time, and then we have a new ceo, but its going to, obviously, the good things are going to continue at synopsys, thank you, art de geus, ceo of snopysys. Charamer wants to hear from you, your calls on a thunder rows lightning round, next ev spac worth more than ford you wont believe how much youre playing for shrink inflat shrinkflatino, next. Shrinkflatin next , next shrinkflation, next. Hows the chicken . The prawns are delicious. Oh, i have a shellfish allergy. One prawn. Very good. Did i say chicken wrong . Tired of people not listening to what you want . Its truffle season ah thats okay. Never enough truffles. How much are they . Its a lot. Oh okay im good, that its like a priceless piece of art. Enjoy. Or when they sell you what they want . Yeah. The more we understand you, the better we can help you. Thats what u. S. Bank is for. Huge relief. Yeah. The first time you connected your godaddy website and your store was also the first time you realized. Well, we can do anything. Cheesecake cookies . The chookie manage all your sales from one place with a partner that always puts you first. we did it start today at godaddy. Com become an aunty. Book a flight. Stay 4 nights. Meet the baby. Make the baby cry. Give the baby back. Fly home. Silver tier in a single trip. Join one key and move up tiers fast. With gold bond. You can age on your own terms. Retinol overnight means. The smoothing benefits of retinol. Are now for your whole body. Plus, fastworking crepe corrector diminishes wrinkled skin in just two days. Gold bond. Champion your skin. It is time for the lightning round. And then the lightning round is over are you ready. Cotovr the lightning round frank in new york. Jimmy, frank from winchester. Im looking at this stock, just for a sec, okay, they reported financials recently revenue was up 119 . Subscr subscriptions were up by 195 , and theyre in the weapons detection, unfortunately we need that in this country its a shame. Schools does stadiums, what do you think . Is it worth a shot whats the stock . Evolve. Its so high. Dont make any money its nay. Lisa in virginia. Lisa hi, jim, thanks for taking my call of course. Im calling about dwat. Jimmy chill dont touch that thing. A blank check company, hard pass on that. Steven in virginia. Greetings, jim, from fairfax. How its going . Im doing fine, i would like to ask about a company headquartered right down the road from me in arlington as a longterm growth stock, raytheon technologies. I agree with you, it did screw up, it had a problem with manufacturing, taking the stock down ten points, its time to buy. Lets go to peter in connecticut. Jim, how are you . Not bad, how about you . Not too bad my stock is stay safe. No, payment processing, ive had it even though its profitable, i dont want anything paying unless its visa or mastercard beau in alabama, beau knows. Beau jimmy chill, hows it going, man . My wife made 65 jars of tomato sauce, so im all good. How about you, beau, whats up there you go. Not all heroes wear capes, right. Okay. Question, i know you dont like two of my top holdings, but im setting up something for my 4yearold, its cross fit capital. We have no idea what prospect owns we cant do it i know it has that big yield we have no idea whats in it were going to say no to that. How about like a good drug company, how about that. And that, ladies and gentlemen, is the lightning round announcer lightning round is sponsored by Td Ameritrade coming up, today auto maker, vinfast is worth almost as much as ford and gm combined. In other words, run for the hills. Cramer sound a warning, next good luck. Td ameritrade, this is anna. Hi anna, this position is all over the place, help hey professor, subscriptions are down but thats only an estimated 15 of their valuation. Do you think the market is overreacting . Howd you know that . The Company Profile tool, in thinkorswim®. Yes, i love you please ignore that. Td ameritrade. Awardwinning Customer Service that has your back. I guess some things never change including the stock markets ability to fleece the heck out of unsuspecting investors like you. We saw it happen with the terrible ipos, the ridiculous spac deals in 20, and 21, and were seeing it again, we have another absurd spac deal yesterday, one of the special purpose acquisition vehicles merged with vinfast auto, and immediately, 255 in response. Now, this money losing car company has been plagued by all sorts of manufacturing problems. As of last nights close, it was valued at 85 billion, which made it larger than ford, gm or mercedesbenz. Why it did pull back 19 , it was stupid to buy yesterday, its got an insane valuation, it aint done ill say this about vinfast auto, it does exist, and it actually makes something it makes cars. Lots of them you can order five different kinds of electric cars on their cool web site. Thats better than most companies in the electric vehicle cohort, which is not saying much because on the whole this has been a pretty disgraceful group. So vinfast is a legitimate company but Everything Else about it, the equity you see is from a merger with a blank check spac, mean it became public without the s. E. C. Blessings and those are almost always losers vinfast skipped the whole screening process. The backed deals are like a back door to get around the whole process to the point where i think you can call them a legal con. The stock you see actually comes from vinfast merger with a buying tech Company Called black spade acquisition. Thank you. If you dont understand that, oh, its okay, you know what, because weve learned that spacs, nobody understands them you can argue we have no real idea how many shares there are or what the company is worth how did vinfast sky high valuation come about, simple, there are 1. 3 million trading. This is where the original investors are likely to cash outs most other shareholders are locked up and not a lot of sell. As a result, there are very few shares out there of vinfast, for short squeeze, which is what happened if they had ten times as many shares, the company would be worth far less money, some 99 of this business is owned by the richest man in vietnam and his family if he ever decides to ring the register, fellow shareholders are toast. Vinfast has shipped 3,000 vehicles to the u. S. , 137 registered as sold by the end of june that doesnt seem all that robust to me in that sense, the stock reminds me of earlier electric vehicle aspect deals like lucid or maybe even large town motors these are all market rallies at one point but investored s endep losing fortunes. A limited number of people will get burned how can they keep coming because the s. E. C. Hasnt stamped out the absurd process if you want to come public via a spac deal you can do so without regulatory scrutiny whatsoever anyone who buys this thing needs to recognize that the stock has nothing to do with the fortunes of the underlying car company. It has to do with the part of the stock market that feels more like playing a lottery than investing in actual businesses, because the lottery seems a lot more legal i hate this stuff. I hate that its allowed i hate that it will cost people fortunes i hate theres no government we can shine a light on the stupidity of it at all and marvel at a company once run by ho chi minh. Its a curse, you can trade vinfast all day, betting it will go higher and lower, never confuse it with a real stock id like to say theres always a bull market somewhere and promise to find it f y yououoron right now on last call, a predatory landgrab in maui. The disturbing rush to try and buy a property devastated i wildfires. The analyst playing matchmaker for espn, he is her. How about this for a shock . An ev maker from vietnam now worth about the same as ford and gm combined. I will try to make sense of it