Jim Cramer is furious about the LinkedIn IPO.
He says it’s “outrageously overvalued and preposterous” and that it’s the most ridiculous IPO since TheGlobe.com and CBS MarketWatch.
He says he’s criticised for calling bubbles.
This kind of thing, LinkedIn… they wanted to create this bubble by limiting the shares
He calls it “absolutely a travesty” and he feels bad it’s happening again.
“I’ve seen this, and I’ve went through it.”
This is in comments made just now on CNBC with Amanda Drury.
What’s interesting is that the stock hasn’t moved at all post-Cramer. It’s currently at $104, where it was before.
For the youngsters… here’s what TheGlobe.com was.