' initial public offering infused"sidelined money" into the market, giving Wall Street a boost.
"There's always so much sidelined money at all times waiting to get in, waiting for a signal that things might be better, and after 18 months of no IPOs to speak of, the multibillion dollar Arm deal was exactly what they needed," Cramer said."Suddenly all of this sidelined money comes pouring back in because the IPO market is a terrific barometer of market health."
He emphasized that Arm's IPO on its own hasn't changed market conditions, but it has changed how investors feel. Cramer explained that a multibillion dollar IPO like Arm"blots out the negatives and accentuates the positive" for investors and bankers, giving the market a"change of heart." Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly
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