Stock Market Today With Jim Cramer: 4 Picks for Millennials, Too Many IPOs - TheStreet
Jim Cramer picked four stocks that millennials can relate to and invest in. And he's tired of the flood of IPOs this year.
Cramer's 4 Stock Picks for Millennials
Domino's ( DPZ ) - Get Report , DoorDash ( DASH ) - Get Report , Snap ( SNAP ) - Get Report and Square ( SQ ) - Get Report are stocks that millennial investors can identify with and buy, Jim Cramer said from the floor of the New York Stock Exchange Friday.
Cramer is particularly high on Square following its deal to purchase "buy now, pay later" company Afterpay.
Cramer recently took to Real Money to explore the importance of catering to the millennial audience.
"Figure out what millennials want -- even if they can't afford it -- and then give it to them. That's often how this market works, and today the millennial caterers just went nuts with their love for millennial-related stocks," Cramer wrote.
Put a Pause on IPOs
Initial public offerings are out of control, according to Jim Cramer, as 2021 has seen 304 IPOs so far, putting markets on pace for a record year.
"I want to see a slowdown in IPOs because last week was just ridiculous. It is not sustainable and sops up a lot of money," Cramer said.
Friday's comments came after Cramer, speaking on "Mad Money" Thursday evening, remarked on the state of markets.
"IPOs have always been tilted in favor of investors" and are designed to see a first-day surge, he said. But lately, the first day of trading is a coin toss and the days that follow are anyone's guess, he said. Even the much-hyped Robinhood couldn't break free of the downward IPO spiral, Scott Rutt wrote in his Mad Money Recap.