Jim Cramer reacts to Unity stock market debut: 'Patience is a virtue'

The video game software developer closed at $68.35 in its market debut after shares were priced at $52 — above its range of $44 and $48 — in an initial public offering, raising about $1.3 billion. The stock opened on the New York Stock Exchange at $75 and peaked before noon at $76.79.

"Like all the other red-hot IPOs we've seen this week, you need to let Unity cool down before you even think about touching it," said Cramer, who owns a stake in Take-Two as part of his charitable trust. "I'd consider this one enticing around $50 or maybe less."

TheMightyVigil Luke 10:19 I have given you authority to trample on snakes and scorpions and to overcome all the power of the enemy; nothing will harm you.

Imagine taking Jim Cramer seriously.

TheMightyVigil

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Unity stock surges in IPO debut — ‘This is not a normal company,’ CEO saysThe software IPO market remains hot, with Unity shares opening at $75 in Friday morning trading, up 44% from their IPO price. Unity, which makes software tools used by videogame designers, raised at least $1.3 billion by selling 25 million shares. $U
Source: MarketWatch - 🏆 3. / 97 Read more »

Unity Software, Tesla, Dave & Buster’s: What to Watch When the Stock Market OpensUnity Software and Athira Pharma are among stocks that will make their trading debut Friday, capping a blockbuster week for investors in IPOs. Here's what else you should watch when markets open.
Source: WSJ - 🏆 98. / 63 Read more »