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Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak

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'The top of the market always comes when there is tremendous euphoria, and today we saw that euphoria in the two deals that went off hot,' Jim Cramer says.

The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC's Jim Cramer said Thursday."The top of the market always comes when there is tremendous euphoria, and today we saw that euphoria in the two deals that went off hot," the "Mad Money" host said.

The host said he likes the prospects that each of these companies have, but the stock prices could be running in worrisome territory. "The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm for further deals," Cramer said."That, however after today, is clearly not the case. So we are going to bring a whole new class of unseasoned investor[s] into this market who are gaming the IPOs and that kind of investor usually arrives after the easy money is made."

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blaha blah blah. 2 weeks ago he said Lyft IPO would be the end of the bull run.

Is Cramer advocating investors to Abandon their positions in existing equities?

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