NEW YORK (TheStreet) -- Investors are snapping up shares of GoPro (GPRO) Friday and TheStreet's Jim Cramer attributed the move to Ambarella's (AMBA - Get Report) second-quarter earnings, reported late Thursday.
Ambarella "reported really an amazing number," Cramer, the co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Stop Trading" segment.
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Ambarella is a supplier of digital processors for GoPro, which makes high-resolution personal cameras. So if Ambarella is doing well, its positive earnings can be used as a read-through for higher demand of GoPro's products, Cramer said.This is a holiday trade, Cramer concluded, looking to the end of the year. A GoPro camera will be on many teens' wish list.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell