"Remember, Groupon rallied 31% in its first day of trading," Cramer said, although it later declined sharply.
Therefore, "I think this may be a case in which you should get in on the deal and then quickly get out. I say, you call your broker and try to get shares as long as it actually prices at $24 or less. Then you need to turn around and sell RetailMeNot into the initial spike right after it comes public. Just take the money and run."
Then, in the weeks and months ahead, Cramer thinks you can again revisit the stock and develop a longer term thesis.
Elsewhere in the market Cramer is also a buyer of OncoMed Pharmaceuticals which prices on Wednesday and then starts trading on Thursday.
"This one is an early stage biotech firm focused on anti-cancer drugs and it reminds me of Epizyme, another cancer fighting biotech that came public at the end of May; it roared 53% in its first day of trading, and hasn't looked back since," Cramer said.
In this case, Cramer expects both an early pop and also long-term gains due to the promise of OncoMed's revolutionary approach to developing cancer treatments.
Looking at the IPO, "The company plans to sell four million shares at a price range of $14 to $16. If you can get in on the OncoMed deal, I say ring the register on some into the first-day pop and then let the rest ride," Cramer said.
Also the Mad Money host is bullish on Agios Pharma IPO.
"Here's a company that's right in my two favorite pharma sweet spots, oncology and orphan drugs that treat a subset of genetic metabolic diseases," Cramer said.
"Agios plans to sell five million shares at $14 to $16 a piece next week, and this is another one where, if you can get a piece of the deal, you should take some profits into the strength I expect on the first day of trading and let the rest ride."
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On a related note, Cramer said that NRG Yield IPO is also worth watching. "It's a spin-off of NRG Energy," Cramer explained. "NRG Yield is going to be their dividend vehicle, the plan is for the company to sport a 6% yield. Because high yield stocks are currently out of favor, I can't bless this IPO right now, but it is absolutely worth watching for the long-term," he said.
