Jim Cramer on Toast: "I'm Advocating Patience"

Toast, Inc. (NYSE:TOST) is one of the stocks Jim Cramer weighed in on. A caller inquired about the current situation and performance of the stock. 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.”

Toast, Inc. (NYSE:TOST) provides a cloud-based platform for the restaurant industry. It offers point-of-sale systems, operations and team management tools, back-office solutions, and integrated financial technology products. When a caller inquired about the stock in a June episode, Cramer responded:

“Oh, I know that Josh likes that. Now. I like Toast too, because I was in the restaurant business. I thought it was a commodity, it’s proprietary. They’re taking out the whole world by storm. You got a good one there…”

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