Cramer: Snowflake IPO double reveals 'very little discipline' in market and 'does not bode well'

Jim Cramer
Scott Mlyn | CNBC

CNBC's Jim Cramer said Thursday he sees Snowflake's price doubling on its first day of trading as concerning for the stock market, which has soared in recent months after the coronavirus-driven sell-off earlier this year. 

"I think that the amount of money that the institutions had to spend to be able to get their second half of Snowflake after they get their first part on the IPO shows that there is very little discipline," Cramer said on "Squawk Box."