CNBC’s Jim Cramer revisited some of the highly anticipated 2020 IPOs on Wednesday.
In reassessing his views on the IPOs or IPOs, the former hedge fund manager once again relied on the shares after months of trading.
“It’s hard not to chase these red-hot IPOs right out of the gate,” said the host of “Mad Money,” “but as we saw in the 2020 class, and from Coinbase today, you often get a better price. if you are patient enough to have them withdraw a few days, weeks, or even months later. “
Below is a summary of his recommendations regarding nearly a dozen new public stocks and their closing prices on Wednesday.
- nCino, $ 70.02: “You have my blessing to dive in here, but there’s no rush and I wouldn’t be in a serious position until it retreated to the mid-$ 60.”
- Snowflake, $ 229.14: “I’d like to get more optimistic about Snowflake, but it’s out of step with this market – so why not wait for it to pull back … to just 50 times its sales, which is what the stock is on. $ 190 brings where I would buy it. “
- JFrog, $ 51.96: “The valuation is a lot more reasonable at these levels, but again, there is no rush with these software stocks. last month’s lows. “
- American Well, $ 17.23: “With the grand reopening deal in full swing, this thing has lost more than two-thirds of its value. Even here, even at $ 17, I would steer clear of Amwell because it’s too much of a lockdown share is. “
- GoodRx, $ 37.67: “You have my blessing to speculate on this now that it has fallen to the high $ 30. Any downturn from here I say it’s a buy opportunity.”
- Asana, $ 33.42: “This has been a real rollercoaster, but I didn’t like the basics last year and you know what, I still don’t. I can’t justify paying nearly 18 times the sales for a company with a growth rate of 38%. “
- Lemonade, $ 88.60: “I like Lemonade, the company … but they are losing tons of money and the stock is sold nearly 50 times … I can’t justify paying more than $ 75 for this $ 75 share. 89. “
- Unity software, $ 101.12: “Perhaps my biggest miss of the 2020 class was Unity Software … Right now, you know what, I prefer the new public Roblox, which is profitable, as opposed to Unity, and traded in at a significant discount. “
- Palantir, $ 23.70: “I think it’s too much of a black box to actually read about the company, so be careful. I’d be a lot more confident if it falls below $ 20.”
- ByDash, $ 143.65: “I’m not really interested in DoorDash here. It’s a closed stock with too many competitors.”
- Airbnb, $ 176.43: “Airbnb will be hit with a major freeze soon, meaning a lot of insiders are selling. The stock is currently at $ 175, I’d start nibbling if it gets below $ 157 and then back up the truck if you can get it closer to $ 117. “