It was the . But now it's over. What do you do with Alibaba now? Jim Cramer has a thought or two.
If you happen to already own the stock, given the 36 percent gain on the first day of trade, Cramer would think about taking some profits. "I would trim some into any big run as I am sure there are plenty of people who will wake up Monday and ring the register."
However, if you don't own shares, and have a longer time horizon, then, Cramer thinks any forthcoming pullback could present opportunity. "Ultimately, if there is a swoon, and you can get shares back in the mid '80s, I think you do it," Cramer said.
Although Cramer never advocates chasing a stock, largely, he believes should generate sizable gains for shareholders for some time to come.
Therefore, he's a buyer.
Looking at the metrics, Cramer says there's a lot to like.
"Even at $91, Alibaba isn't classically overvalued. At this price, for example, Alibaba sells at 19 times next year's earnings, almost half of what Facebook sells at, even though it's growing its sales and earnings at only slightly less the pace of Facebook. It's got much faster growth than Google which sells at the identical price. And Twitter, just for comparison sake, sells at 142 times earnings."
However, after meeting Alibaba founder and chairman Jack Ma, Cramer's commentary suggests there's even more to like.
"I found myself quite taken by this mild-mannered 50-year-old gentleman. His humility, frankly, astounded me," Cramer said, suggesting Ma wasn't the self-congratulating type who would rest on his laurels.
"He was dirt poor when he started. He had a vision of using the Internet to harness retail for the masses... (and) he has realized his dreams. There's nothing zero sum about this man. I liked him. I wish we had more CEOs like him."
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Read more from Mad Money with Jim Cramer
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Cramer always says a long position in any stock is, in part, a bet on the company's leadership. And Cramer was extremely impressed by Jack Ma. Therefore, as you think about new positions for the long-term, Jack Ma is another reason why Cramer thinks Alibaba deserves a long hard look.
"I believe in the company. I believe in the man. I think Aliababa is not crazily expensive. And while I prefer both Facebook and Google to it, I can't dismiss either Ma or the enterprise he built."
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