Hey millennials, you're doing something right.
Well, at least according to Jim Cramer.
When asked about Slack's (WORK ) - Get Slack Technologies, Inc. Class A Reportquarter and how millennials can approach stocks that boomerang after earnings, Cramer weighed in on how he thinks millennials are correctly approaching the stock market.
But first, how did Slack do?
The messaging company reported a third-quarter net loss of 2 cents per share on revenue of $168.73 million, a nearly 60% increase year over year. Analysts were expecting a loss of 8 cents per share on revenue of $156.02 million.
Fourth-quarter guidance was slightly off, however, with the company expecting to lose between 6 cents and 7 cents per share. Wall Street is expecting a loss of 6 cents per share.
"People tend to buy what they like. I wish they did more homework necessarily, but Slack's got a good balance sheet. If they like it and...their analysis was spot on. But what I like about the millennials is that they have taken to one of the oldest ways to make money, which was the Peter Lynch way, the great Magellan manager from Fidelity, which is buy what you know, buy what you like," said Cramer.
Watch the video above for more.