CNBC’s Jim Cramer reviewed some of the most anticipated IPOs of 2020 on Wednesday.
In reassessing his positions on IPOs or initial public offerings, the former hedge fund manager made new calls for shares after months of trading.
“It’s hard not to drive these hot IPOs right out of the gate,” said Mad Money host, “but as we’ve seen from the 2020 class and from Coinbase today, you’ll often get a better price if you have enough patience to let them retire a few days, a few weeks or even months later. “
Below is a summary of its recommendations on nearly a dozen new public shares and their closing prices on Wednesday.
- nCino, $ 70.02: “You have my blessing to dive in here, but there’s no rush and I wouldn’t take a serious position until he retires in the mid-’60s.”
- Snowflake, $ 229.14: “I would love to get more bullish on the snowflake, but it’s not in line with this market – so why not wait for it to retreat … until sales of just 50 or, which will put the stock at $ 190 where I would buy. “
- JFrog, $ 51.96: “The rating is much more reasonable at these levels, but again, there is no rush with these software stocks. I would like even more than $ 43 or sales 20 times, which is about in line with last month’s lows. “
- American Well, $ 17.23: “As the great reopening transaction went into full swing, well, this lost more than two-thirds of its value. Even here, even at $ 17, I would stay away from Amwell, because it’s too much of a lock stock. “
- GoodRx, $ 37.67: “You have my blessing to speculate in this now that it has been shot down to $ 30. Any withdrawal from here I say is a buying opportunity.”
- drain, $ 33.42: “This was a real roller coaster, but I didn’t like the basics last year and, you know what, I still don’t. I can’t justify paying 18 times the sales for a company with an increase of 38 % the duck.”
- Lemonade, $ 88.60: “I like Lemonade, the company … but I lose a lot of money and the stock sells for sales almost 50 times … I can’t justify paying more than $ 75 for this stock of 89 USD. “
- Unity Software, $ 101.12: “Perhaps my biggest miss in the 2020 class was Unity Software … Right now, though, you know what, I’d rather own the new public Roblox, which is profitable as opposed to Unity, and trades at a substantial discount. “
- Palantir, $ 23.70: “I think it’s too much of a black box to get a real read about the business, so be careful. I’d feel a lot more confident if it goes below $ 20.”
- De Dash, $ 143.65: “I’m not really interested in DoorDash here. It’s a blocked stock with too many competitors.”
- Airbnb, $ 176.43: “Airbnb will soon be hit with a big lockout expiration, which means a lot of domestic sales. The stock is currently at $ 175; I would start nibbling if it went below $ 157 and then to back up the truck if you can get it to $ 117. “