Watch: Jim Cramer Reacts to Mattel's 'Very Bad' Quarter

TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said Mattel (MAT) - Get Report had a "very bad" quarter. 

Mattel suspended its dividend.

While Cramer said Mattel's survival is not in doubt, but he doesn't have case for owning the stock.

Cramer said Hasbro HAS is well ahead of Mattel in understanding the "new world," which is the importance of having a digital strategy. 

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