On Wednesday, Jim Cramer told investors to get in on the next market dip by buying shares of the streaming service.
He said that you put it on the top of your shopping list and wait for the next decline in the averages.
His comments came after the company reported a top and bottom line beat in its third quarter results. The streaming giant revealed that it added more subscribers than expected.
After the company lost subscribers for the first time in more than a decade due to intensifying competition, password sharing and persistent inflation, the company's stock took a hit.
While the company still faces macroeconomic challenges such as a strong U.S. dollar, it is cracking down on shared accounts and rolling out an ad-supported tier.
The company expects 4.5 million new paid subscribers in the fourth quarter and substantial growth in free cash flow next year, which strengthens his bull case.
He thinks 2023 will look better than 2022.
Jim Cramer has a guide to investing that you can download for free.
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