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

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'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,' the 'Mad Money' host said.

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."

 

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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

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