The stock market is being flooded with new initial public offerings and many of the best performers in the 2019 class aren't worth chasing at current levels, CNBC's Jim Cramer said Thursday.
"The stock market's all about supply and demand. When you flood it with new supply, that puts real pressure on the averages," he said."Every time we get another one of these deals that's engineered to be red hot, money managers need to sell something else to raise cash if they want to participate." But CEO Joe Hogan shrugged of the notion, telling the host its product line is a matter of demand: some people would prefer clear aligners over affixing braces to their teeth.
Something is very wrong today. I actually agree with Cramer on that. Scary morning. I better be alert today.
If I wanted to scoop up someone else’s shit, I’d just stroll through downtown San Francisco instead of buying the Uber or Lyft IPO
jimcramer
irrational valuation
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