Jim Cramer Calls GameStop a Buy: 'They're Having Some Success'

On CNBC’s “Mad Money Lightning Round,” Jim Cramer recommended buying BlackBerry Limited (NYSE:BB). “We’ve had the company on. I am surprised that it came back down, but there’s been a lot of selling in some very good stocks,” he added.

BlackBerry shares gained in pre-market trading following a partnership announcement between Sift, a data infrastructure platform for mission-critical hardware, and QNX, BlackBerry’s embedded software division

When asked about Casey’s General Stores, Inc. (NASDAQ:CASY), he said, “I think you’re wise to go back into it, especially down here all the way. It’s almost been cut in half. That’s a very good move.”

On the earnings front, Casey’s General Stores, on Sept. 8, posted upbeat first-quarter results. The company posted quarterly earnings of $7.37 per share, beating market estimates of $6.72 per share. The company’s sales came in at $5.678 billion versus expectations of $5.568 billion.

GameStop Corp. (NYSE:GME) is a profitable company, Cramer said. “They’re trying to turn it around, and I think they’re having some success. I’m willing to say that stock is a buy.”

According to recent news, a substantial insider purchase was made by Ryan Cohen, CEO of GameStop, on Sept. 10, as per the latest SEC filing. Cohen’s recent move, as outlined in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday, involves purchasing 1,000,000 shares of GameStop. The total transaction value is $20,375,900.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) has been a “terrible” stock in the last six months, Cramer said. “It’s settled down to a level that I think you can buy the stock.”

On Tuesday, Credo Technology disclosed the launch of its 224G-based ZeroFlap (ZF) optical transceiver family designed for AI networking.

Price Action:

• Casey’s shares gained 3.1% to settle at $607.45 on Thursday.
• BlackBerry shares climbed 3.9% to close at $7.94 during the session.
• GameStop rose 3.6% to settle at $22.77 on Thursday.
• Credo Technology shares gained 4.2% to close at $168.25.

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