I would cut the top red part off. It'll get two new "heads". (Not a succulent expert, by any means - but I've had my jade for over ten years and have learned to propagate it through lots of trial and error!) :)

Here's a recent one - I cut a forked top off the mother jade and rooted it. When it developed the spindly tops like in your photo I chopped them off and now it has new growth:

Plant needs light, that's why it is stretching and growing weak stem. It also needs good drainage - what is it potted in (soil?) and is there a drainage hole?