NEW YORK (TheStreet) -- Twitter (TWTR) reported that more than 100 million live broadcasts have been created on its Periscope app, which is "a very big number," TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning.
Cramer did warn that the app "still doesn't have a big pick up."
"People need to be patient with Twitter," Cramer added, explaining that the company's products take some time to gain traction with users.
Cramer commented that he uses Periscope before filming CNBC's Mad Money.
Twitter also announced that Periscope broadcasts will be available on the company's main app.
Cramer's Action Alerts PLUS charitable trust portfolio has a small position in Twitter and "it has been disastrous," he said in a video on TheStreet. "We do believe that Twitter is valuable and if they get their act together it could be substantially higher."
Twitter stock is down 1.07% to $19.44 in early afternoon trading on Tuesday.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate TWITTER INC as a Sell with a ratings score of D. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.