The fintech company’s stock, which had for years been one of the performers in the market, has been struggling mightily as of late. It’s fallen more than 20% since Aug. 1, when it was trading at $83 per share. It dropped below $60 on Wednesday.
Still, the “Mad Money” host thinks Square isn’t a company to shy away from.
“Square’s fundamentals are sound, so it’s a broken stock, not a broken company, which means you can absolutely buy this one into weakness,” Cramer said. “Worst case? It goes down some more and the stock gets even cheaper.”
Square has fallen out of favor with investors after consecutive quarters of beating earnings and sales expectations, yet issuing conservative guidance for the upcoming quarter and leaving its full-year forecast unchanged, Cramer said.
“Money managers were sick and tired of good quarters and then conservative…