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Cramer: Investor apathy for Lyft is a big positive for this bull market

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Jim Cramer says Lyft's 'ice cold' entrance to the Nasdaq turns out to be 'great news for the rest of the market because we don't want a flood of hot IPOs.'

CNBC's Jim Cramer on Tuesday conceded that Lyft's entrance to the public market"was decidedly a dud," but he thinks the stock's more than 22 percent collapse from its Friday high mark is actually a positive for the bull market.

"I think the decided lack of enthusiasm for the stock deal that is Lyft is one of the best things that's happened to this market in ages," the "Mad Money" host said."With the help of a grizzled vet I used to trade with, I figured out that the collapse of Lyft is a powerful sign that there's no irrational exuberance here. The enthusiasm is constrained for this market. Investors are behaving rationally. That's not what I expected a week ago.

 

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oh thank god - i hope what i lost on $LYFT i can make back on the $SPY hitting ATHs

Valuing a company that makes no money and, by their own admission, may never make any money, at $25 billion is apathy? Wow, do I ever need a mind adjustment.

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