Cramer thinks that Mastercard’s stock, $172.93 a share at Thursday’s close, is on a mission to $200.
Thanks to the global shift in payments from paper to plastic, shares of Mastercard have been on a tear, up nearly 15 percent just since the start of 2018.
“Mastercard reported yet another blowout quarter, which is amazing when you consider how the bar’s been raised so high after all these upside surprises,” Cramer said. “This time, though, the company had a whole new angle: cryptocurrencies.”
In its Thursday earnings report, Mastercard acknowledged that its customers were buying digital currencies such as bitcoin using their credit cards and said it would develop a prepaid card for companies involved in cryptocurrencies.
“That’s like throwing gasoline on the fire that’s been raging under Mastercard’s stock,” Cramer said.