After climbing above $45 in early September, the stock price has tumbled under $30, with 23% of those losses coming since its disappointing third-quarter earnings report Thursday.
"The last time this stock had a major meltdown, it found a floor of support at $27 to $28, which is one more reason to start buying right here at $29 and change," Cramer said Tuesday on his "Mad Money" show.
Cramer also recalled that many companies, including Salesforce, missed a chance to purchase Twitter in 2016 when the stock traded below $20.
"If this thing keeps coming down, you know what, I bet someone else will try to acquire it," he said.
Twitter cited platform bugs and advertising woes for its revenue shortfall, prompting numerous analysts covering the social media company to cut forecasts and some to downgrade the stock. The social site grew its monetizable daily active users by 4% from the prior quarter to 145 million, but the company had trouble in targeting and selling ads.
The issues could stretch into 2020, Twitter warned. While Twitter's plan to address its ad issues aren't clear, Cramer expressed faith that the company will find a solution.
After a big decline, the "Mad Money" host said the stock is too cheap to sell here but low enough to start a position, calling the current problems "temporary setbacks."
"Management's continued to do a great job of growing the user base, and,at the end of the day, that's what matters," he said.
"The core thesis that Twitter's turning itself into a more enticing place to spend your screen time remains intact. If anything, it's gotten better as the user growth numbers are accelerating," he said. "Management just needs to get the advertising system back on track, which is something they've done before."
Twitter shares closed Tuesday's session at $29.85, giving it a market value of $23.1 billion.
Disclosure: Cramer's charitable trust owns shares of Salesforce.