It's not often a company can cut its full-year guidance and still see its stock go up 5.5%. But that's precisely the case with Dave & Buster's Entertainment (PLAY) on Wednesday.

The company's quarterly results would have been much stronger and guidance would not suffer if it weren't for the hurricanes hitting the southern United States and Puerto Rico, as well as the wildfires out West, TheStreet's Jim Cramer explained on CNBC's "Mad Dash" segment.

Revenue and EBITDA jumped 9% year-over-year in the company's fiscal third quarter, but both growth figures would have been in the double digits had it not been for the natural disasters. So why exactly is Dave & Buster's doing so well?

It's more than just eating, drinking and watching sports, Cramer explained, it's about experience. Millennials love experience. But so too do parents and groups of friends. The company is constantly adding new games and engagements to keep the good times rolling. It's even adding virtual reality in 2018.

It has a solid core business and is now opening small format stores alongside its large format location. Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said that CEO Stephen King is doing a very good job.

So this stock may be puzzling to the shorts, as it's rallying after missing revenue estimates and cutting guidance. But Dave & Buster's tells a good story, had a good explanation and runs an experiential shop. Thus, the stock's going higher, Cramer concluded.

Shares of Dave & Buster's were not able to hold onto their gains throughout Wednesday's session, closing lower by 0.32% and ending at $52.72 for the day. 

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At the time of publication, Cramer's Action Alerts PLUS had no position in any security mentioned.

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