Jim Cramer: Merger Monday's back and it's bigger than ever

"The next time the market gets slammed, I want you to remember what happened today and I want you to try not to be too negative," the "Mad Money" host said. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6

Wall Street was flooded with new corporate deals, and that gives investors insight into company valuations on the market, CNBC’s Jim Cramer said Monday.

“There will be more sell-offs ahead — this is still September; the last week of September is supposed to be bad. But the next time the market gets slammed, I want you to remember what happened today and I want you to try not to be too negative,” the “Mad Money” host said.

In a Merger Monday, a wave of newly announced acquisitions gave a boost to a market that proved turbulent in recent weeks. The Dow rose almost 328 points, or 1.18%, to 27,993.33. The S&P 500 advanced 1.27% to 3,383.54, and the tech-heavy Nasdaq Composite rallied almost 2% to 11,056.65 during the session.

Among the bids that helped to influence trading were moves from Gilead Sciences, Nvidia and Oracle.

Gilead made a $21 billion play, paying $88 per share in cash, for biotech company Immunomedics to expand its cancer treatments. Immunomedics shares nearly doubled during the session to close at $83.65. The stock closed Friday at $42.25.

Gaming chipmaker Nvidia offered $40 billion for mobile phone chip manufacturer Arm Holdings. Despite what Cramer believed to be a high purchase price, Nvidia shares rallied almost 6% to $514.89 on the news.

As for Oracle, the enterprise database software provider beat out Microsoft in a highly watched bid for TikTok’s U.S. business with ByteDance in China. The deal will make Oracle an American technology partner and give the company a big interest in the video platform.

“What matters here is that the market has spoken. Big-time hedge-fund managers may come on our air and say that stocks are too high, maybe even dangerous, that we’re in a bubble,” Cramer said. “But big companies tend to know their own industries, and they seem to think many stocks are undervalued or reasonably valued.”

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