It seems like the big technology companies have pretty much figured out that they don't need ChannelAdvisor's service, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.
Instead, companies should just "give the money to Google(GOOGL) - Get Report(GOOG) - Get Report ," Cramer commented. Shares of the search giant are higher by 2.25%, a welcome sign for investors. The stock has been a laggard over the past year, down roughly 13%.
It's unclear whether this will be the catalyst to get shares moving higher, but ChannelAdvisor stock has been a "black hole," Cramer said.
While ChannelAdvisor's management didn't come out and say it, Cramer said the company's pain is Google's gain.
- - Written by Bret Kenwell
At the time of publication, Cramer's Action Alerts PLUS was long GOOGL.