We're already a few weeks into February, and there hasn't been a single initial public offering in 2016.
Jim Cramer was so disturbed by this fact that he decided to take a closer look at the performance of the companies that went public in 2015 to figure out why others were deterred from going public this year.
"That's right, not one IPO in January. Just a big fat goose egg, making it the first month without a deal since September of 2011," the "Mad Money" host said.
The IPO class of 2015 was left in a complete debacle. Of the 211 stocks that went public last year, only 45 are up from their offering price. Four are unchanged, and the remaining 162 are down from their IPO prices.
In other words, 76.8 percent of stocks that went public in 2015 have lost money, even if investors got in on the initial deal.
So, when Cramer examined the 10 largest IPOs from 2015, nine of them are down since coming public and eight of them are down double digits.
"If you're wondering why companies are reluctant to come public in this environment, just remember the hideous performance of the IPO class of 2015," Cramer said.