Sometimes, Jim Cramer finds companies that shed light on what consumers like to do and where they are really spending their money.
"Of course, the stock gave up much of its gain today after Amazon announced it would launch a competing ticket service — they tried to partner with Live Nation but apparently couldn't agree on who'd keep the data," Cramer said. "But the truth is that tickets are only one piece of the pie here. Live Nation now owns so many venues and festivals that Amazon will just be another vendor for them."
In Live Nation's post-earnings conference call, CEO Michael Rapino elaborated on Live Nation's sponsors, saying they each pay over $1 million annually "to reach that highly sought-after millennial customer."
Live Nation also has the perfect cause to entice millennials, Cramer said: live events, particularly music festivals, offer ideal backdrops for posts on the likes of Facebook or Instagram.
"That's why I think this stock remains one of the best plays on millennials, and any giveback on this Amazon foray may be an excellent opportunity to buy the stock of Live Nation," Cramer said.