Digital media is becoming the best vehicle for retailers to get more traffic to their stores and websites, and that's brightening the outlook for the stock of embattled social media giant Facebook, CNBC's Jim Cramer said Wednesday.
"When you listen to the retailers that have reported lately, they all sing the same tune: the time has come to spend even more money on digital media. That's the theme of the quarter," he said on "Mad Money."
And with more and more money pouring into digital advertising, "I think Facebook, the stock, is ready to bottom. Maybe it already has. Maybe it can go higher," Cramer said.
Boosting online advertising is "mentioned over and over and over again on practically every retail conference call I've been on," he noted as Facebook's stock gained 2.5 percent intraday before settling up 1.7 percent.
And while Facebook's namesake platform is losing steam as consumer tastes evolve, Instagram — which Facebook bought in 2012 — is still drawing advertising dollars, he said.
Click here to read more of Cramer's take.