Jim Cramer Says “Toast Happens to Be Doing Very Well”

Toast, Inc. (NYSE:TOST) is one of the stocks Jim Cramer recently discussed. A young investor inquired Cramer’s thoughts on the company, and asked if he would do anything with the position ahead of the company. In response, Cramer said:

“Wow, I mean, think about that. Now there’s some, that kid’s got horse sense. Alright, look, I think Toast is right now, it’s trading on the idea that the restaurants aren’t doing well. Not that Toast isn’t doing well, because Toast happens to be doing very well. And you’re right to be able to look at that company and make that judgment away from the restaurant business. I would be a buyer of Toast, but only after they report on November 4th.”

A stock market graph. Photo by Alesia Kozik on Pexels

Toast, Inc. (NYSE:TOST) provides a cloud-based technology platform that supports restaurant operations through point-of-sale, payroll, supply chain, and accounting solutions. A caller inquired about the stock during the September 15 episode, and Cramer replied:

“You know, look, I’m glad you asked about this. I actually thought the quarter was excellent. I know there are a lot of doubters. I think that’s wrong, but the restaurant stocks have been very weak, and that’s why I think that Toast has been very weak. I’m advocating patience because it’s still a great stock and it’s still up a lot for this year.”

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Disclosure: None. This article is originally published at Insider Monkey.