After an earnings report that disappointed the Street on guidance and caused a drop in its stock price, eBay (EBAY) is now a buying opportunity that Jim Cramer's charitable trust is taking advantage of now, Cramer said on "Squawk on the Street" Thursday.
"I'm going to say it right here, right now. My charitable trust buying it right here. Why? Because the conference call is really good," he said. "I'm going against the grain here. I'm saying that this literally is a buying opportunity."
Cramer said that the company put up good numbers but issued cautionary forward guidance, which unnerved investors. He pointed out that the company did the same thing in October 2012, causing a drop in the stock price, bouncing back later in the month.
"I know everyone has decided they hate [eBay], the stock was up big in anticipation of a good quarter. [eBay CEO John] Donahoe, he gave the negatives, I think he wanted to rein in the bulls but he's doing a great job," Cramer said. "I'm taking the other side of the eBay trade."
(Read more: eBay CEO warns of 'headwinds' )
Cramer said he was a buyer "right here" for his charitable trust, as the stock traded at $53.33 in early trading Thursday. (For the latest stock price click here. (EBAY))
Cramer's charitable trust owns shares of eBay.
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