LinkedIn (LNKD) IPO Makes Jim Cramer Sick(er) (w/VIDEO)
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Jim Cramer just gave his best rant since the famous 2007 "they know nothing" plea to the Federal Reserve. This time his target was today's hot IPO for LinkedIn (Nasdaq: LNKD).
Cramer, who admittedly has a cold, worked though his laryngitis to rage against the "travesty," as he called it.
Speaking from personal experience during the dotcom bubble, Cramer said the outrageous valuation on LinkedIn is the worst thing since TheGlobe.com, a stock that ramped 600 percent on its IPO debut in 1998 but was bankrupt shortly after as the bubble came crashing down.
Recalling his foray into the Wall Street IPO hype machine, Cramer discussed how he was worth $1 billion when he first took TheStreet.com (NYSE: TST) public, only to see these fortunes quickly disappear.
Cramer warned investors to stay away, and even went so far as to ask the government to step in to stop the inexplicable bubble in the making.
Finally, Cramer said the secondary offering could hurt current investors buying into the IPO, as the new share supply floods the market.
VIDEO
Cramer, who admittedly has a cold, worked though his laryngitis to rage against the "travesty," as he called it.
Speaking from personal experience during the dotcom bubble, Cramer said the outrageous valuation on LinkedIn is the worst thing since TheGlobe.com, a stock that ramped 600 percent on its IPO debut in 1998 but was bankrupt shortly after as the bubble came crashing down.
Recalling his foray into the Wall Street IPO hype machine, Cramer discussed how he was worth $1 billion when he first took TheStreet.com (NYSE: TST) public, only to see these fortunes quickly disappear.
Cramer warned investors to stay away, and even went so far as to ask the government to step in to stop the inexplicable bubble in the making.
Finally, Cramer said the secondary offering could hurt current investors buying into the IPO, as the new share supply floods the market.
VIDEO
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