Cramer's lightning round: Peloton is still overvalued after major sell-off

  • It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

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Duluth Holdings: "This is a good company, and apparel came back. Duluth, I love to use their stuff, but I've got to tell you … there's so many other stocks in the apparel business like a [Lululemon] that is very good. I happen to like, my favorite, American Eagle Outfitters, which is acting horribly. It looks like a disaster, and yet, I continue to believe that it's the right stock to own."

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Medtronic: "I've been really stuck. I think Medtronic has been executing poorly, and we had [Edwards Lifesciences] on last week. I think that even here, you've got to sell Medtronic and buy EW, which is what I'm going to be talking about with [the CNBC Investing Club] because both [Director of Portfolio Analysis] Jeff Marks and I think that EW is a fabulous story."

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Calumet Specialty Products Partners: "Niche company that processes crude. I actually like it. I think it does a good job. I think you can buy it."

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Paysafe: "Look, Paysafe at $3 [per share], stocks stop at zero? What can I say?"

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Peloton: "Peloton at $13 billion [market cap] is still too high. I think it's probably an $8, $9 billion company max. But [CEO] John Foley, you know you're always welcome to come on the show and give me the other side of the trade."

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