CN Crimm’s Jim Cramer reviewed some of the highly anticipated 2020 IPOs on Wednesday.
The former hedge fund manager re-addressed the shares after months of trading to review his views on the IPOs or the first public offerings.
‘It’s hard not to chase these red-hot IPOs out of the gate,’ said the ‘Mad Money’ host, ‘but as we saw from the 2020 and today’s class of Coinbase, you often get a better price if you are patient enough to have them withdraw a few days, a few weeks or even months later. ‘
Below is a summary of its recommendations on nearly a dozen new stocks and the closing prices on Wednesday.
- nCino, $ 70.02: “You have my blessing to put it in here, but there is no hurry and I will not take a serious position until it retreats to the mid- $ 60s.”
- snowflake, $ 229,14: “I would like to be more positive about Snowflake, but it’s not in line with this market – so why not wait until it pulls back … up to just 50 times the sales, which at $ 190 where I would buy. ‘
- JFrog, $ 51.96: “The valuation is much fairer at these levels, but again, there’s no hurry with these software stocks. I want it even more below $ 43 or 20 times the sales, which roughly corresponds to the lows from last month. “
- American well, $ 17,23: “Since the big reopening trade is in full swing, this thing has lost more than two-thirds of its value. Even down here, even at $ 17, I would stay away from Amwell, because it’s too much.” a closing share. “
- GoodRx, $ 37,67: “You have my blessing to speculate in this one now that it’s hit the high $ 30s. Any setback from here I say it’s a bargain.”
- Asana, $ 33,42: “It was a real rollercoaster, but I did not like last year’s principles, and you know, I still do not. Can not justify paying almost 18 times the sales for a company with a growth rate of 38%. “
- Lemonade, $ 88,60: “I like Lemonade, the company … but they’re losing a lot of money and selling the stock for almost 50 times the sales … Can ‘t pay more than $ 75 for this $ 89 stock. “
- Unit software, $ 101,12: “Perhaps my biggest mistake was the class of 2020 Unity Software … But at this point, you know what, I would rather own the new public Roblox, which is profitable, unlike Unity, and trade drives at significant discounts. “
- Palantir, $ 23.70: “I think it’s too much of a black box to really read about the business, so be careful. I’ll feel a lot more confident if it’s less than $ 20.”
- DoorDash, $ 143.65: “I’m not really interested in DoorDash here. It’s a closing stock with too many competitors.”
- Airbnb, $ 176.43: “Airbnb will soon be hit with a big shutdown, which means a lot of inside sales are sold. The stock is currently at $ 175; I’ll start snacking if it falls below $ 157 and then back up the truck you can get it up to $ 117. “