CNBC's Jim Cramer told investors not to get greedy and instead take profits in stocks that have run up substantially, including recent IPOs.
"If you're in one of these IPOs that's doubled or tripled or quadrupled, why not sell some of your position, so you're playing with the house's money?" he asked."Remember, all of these gains are purely on paper until you ring the darned register.
It's currently difficult for companies to go public, because they can raise as much capital as they need privately without having to endure mass scrutiny from Wall Street, Cramer continued. He listed several other recent IPOs whose stocks have run up this year, including According to Cramer, people will start to sell top IPOs when more begin to debut on the market, with investors trying to raise money for the next big deal. However, he continued, it seems a new IPO cycle is not going to hit Wall Street anytime soon."Yes, there's a good chance that you won't make as much money because of what I'm saying," Cramer said.
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