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With so much time spent highlighting some of the best public and private companies out there recently, Jim Cramer thought it would be a good idea to take a look at a few of the high-profile IPOs from the past six weeks.
"I consider it part of my job to familiarize you with these newly public companies so that you know your IPOs and can figure out whether they're winners or duds," the "Mad Money" host said.
First up is Bojangles, a quick-service restaurant chain that is primarily known for scratch biscuits and fried chicken. It has 622 locations, predominantly in the southern region of the U.S.
Bojangles came public a week ago at $19 and has since taken off, closing at $26 on Friday. And while it does have a loyal following and strong fundamentals with projections of growth, there are two things that concern Cramer.
First, the stock is a bit expensive versus similar restaurants. Second, Cramer sees investors getting out of the domestic restaurant stocks like Bojangles right now, and transitioning into US companies with international exposure.
"I wouldn't be a buyer here, but I would be willing to pounce if it comes down to the low $20s," Cramer said.
Next up is Etsy, the online marketplace for people to buy and sell unique handmade goods. Unfortunately, Cramer sees red flags all over the place for this company, especially with a few things it has said recently about its long-term growth trajectory.
When a company comes public, it is required to list all of the risk factors related to its business in a prospectus. When Cramer read the prospectus, it was just plain scary.
The prospectus stated "we have a history of operating losses and we may not achieve or maintain profitability in the future. We expect that our operating expenses will increase substantially." Yikes!
But what really scared Cramer was when the prospectus basically said the company's values could interfere with making money "adherence to our values and our focus on long-term sustainability influence our short or medium term financial performance."
Cramer does not see a path to profitability here, and given its statements in the prospectus he worries that it doesn't seem to care about profitability. No, thanks, he'll pass on this one.
Then, there is Party City which now trades at $21, up from its IPO price of $17. Party City is the leading retailer of party supplies, with 900 locations spanning the U.S. and Canada. Need to build a full pig roast luau in your backyard this weekend? Party City probably has the matching napkins and tiki torch for it.
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However, at a time when so many money managers are rotating out of retail, Cramer thinks investors can do better than Party City. It is more expensive than the other big stores and has so much unproven territory. He would rather own Costco or Target for his charitable trust.
Lastly, there is GoDaddy, which came public in April at $20 and has been trading sideways at $26 since then. GoDaddy is the online company that allows customers to buy domain names, along with website building products and security for businesses to expand their Web presence.
"I'd be willing to give this one my blessing for speculation, but only on a pullback down to the low $20s."