We recently published an article titled What Happened After Jim Cramer Talked About These 13 Stocks.In this article, we are going to take a look at where e.l.f. Beauty, Inc. (NYSE:ELF) stands against the other stocks Jim Cramer recently discussed.
During a recent episode of Mad Money, Jim Cramer offered his perspective on the day’s market rally as he delved into the impact of the ongoing dynamic between President Donald Trump and Federal Reserve Chair Jerome Powell.
“All day, I heard that today’s rally was just a bear market rally, okay? That it was a phony spike, and the market will go right back down the moment the president posts that there’ll be no compromise on tariffs. Who knows, maybe Fed Chief Jay Powell should be deported.”
However, Cramer pointed out that the tone shifted significantly just after the market closed. In his words, “We get incredible news that is sure to drive this market higher.” The news came directly from the President, who clarified that he had no intention of firing Powell, a rumor that Cramer identified as a major factor in the prior day’s market slide. Trump’s statement, “Never did, never will,” regarding any plans to remove Powell effectively erased the cloud of uncertainty that had been hanging over the markets.
Given this reversal, Cramer questioned whether the rally could still be called a bear market bounce. In his view, it now looked like something more substantial. He explained that real recoveries are often mischaracterized at first. According to Cramer, they typically begin with what appear to be bear market rallies, short-lived, suspicious upticks that many investors brush off due to repeated disappointments in the past. He stressed that the early stages of genuine market turnarounds are often marked by disbelief and hesitation, with only the boldest or most reckless traders recognizing their potential early on. He added:
“Now look, just because the President doesn’t want a constitutional crisis and is going to keep Powell doesn’t mean we have more to go on. For example, there’s been no sign of change from the administration on the trade wars.”
Methodology
For this article, we compiled a list of 13 stocks that were discussed by Jim Cramer during the episode of Mad Money on April 22, 2024. We then calculated their performance from April 22nd, 2024, market close to April 23rd, 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).
Jim Cramer on e.l.f. Beauty (ELF): ‘Stay Away From Cosmetics - e.l.f. Is No Exception’
A close up of the lip and eye products from the company on a model in a fashion and beauty shoot.
When a caller asked about e.l.f. Beauty, Inc. (NYSE:ELF), Cramer leaned on a recent conversation with the company’s CEO to support his bullish stance. At the time, e.l.f. Beauty, Inc. (NYSE:ELF) had been bucking the trend among other high-multiple growth stocks by continuing to rise despite market volatility. Here’s what he replied with:
“ELF is a high-multiple stock that didn’t used to be, and yet it was up today. But Elf is good, other than the chart pattern which is not that good. We spoke to Tarang Amin just, I don’t know, less than 10 days ago, and things are really, really strong. So I would like you to be in that stock.”
However, the stock has plummeted since. It's now down by 67.89% over the past 12 months.
During a more recent episode, Cramer was asked by a caller on whether it was time to start buying e.l.f. Beauty, Inc. (NYSE:ELF) again, and Cramer appeared way more sceptical this time around:
“I’m so glad you asked me about this. This is at the fulcrum of what I’ve been working on. Elf has a connection to China, obviously that’s where they make their stuff, that’s why they’ve been able to undercut everybody else in price. Now all we know is that it’s up in the air of what’s going to happen with Elf. We don’t know what kind of tariff it’s going to pay. If we don’t know what kind of tariff it’s going to pay then I can’t spend $53 for that stock! It’s just not right. […] And that’s why I’m staying away from Elf, even as I think that everyone knows I think Tarang is a terrific CEO. It doesn’t matter; it’s out of his hands.”
Overall ELF ranks 8th on our list of the stocks Jim Cramer recently discussed. While we acknowledge the potential of ELF 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 ELF but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
