"You might want to use any additional Toys R Us-related doom and gloom to scale into Hasbro on weakness, because long term, you may end up looking back on this moment as a terrific buying opportunity," the "Mad Money" host said.
Down 17 percent since its 2017 highs, Hasbro's stock has struggled amid the long-winded liquidation of Toys R Us. Hasbro's sales suffered as Toys R Us — which accounted for 9 percent of its sales — unraveled, forcing management to find other paths to profit including online retail.
"But if you were patient, if you used the pain to buy Nike into weakness, you eventually got an amazing opportunity because, long term, Nike was not totally dependent on Sports Authority," he said. "It’s the dominant player in the sneaker space and it was always going to do just fine."