However, Cramer said the real driver behind recent gains is probably takeover chatter. "We've already seen Starbucks buy smaller coffeehouses like Peet's and Caribou Coffee, and there's speculation that Krispy Kreme could be acquired by a larger suitor."
Cramer said all things considered he would not be surprised to see Krispy Kreme print $14 with ease.
It's worth noting that after the sharp advance mentioned above, shares are flirting with a 52-week high. "Therefore I'm only willing to endorse buying this stock on a pullback. Wait for some market wide weakness to knock the stock down, and then make your move," said Cramer.
If you watch Mad Money regularly you know that Cramer isn't fond of betting on a stock simply as a takeover candidate.
"The fundamentals also have to be improving and that's definitely what we see here. The only holes in the Krispy Kreme story are in the donuts," Cramer said with a wink and a grin. However it is a spec play.Call Cramer: 1-800-743-CNBC
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