CNBC's Jim Cramer on Tuesday admitted that Lift's entry into the public market "was definitely a dud", but he believes that the stock is more than 22 percent breakdown from his Friday's high mark is actually a positive for the beef market.
After Lyft's big first day pop, the threatening IPOs take tips on how to move and not lose so much value, Cramer said.
"The companies will agree that they will not be too greedy," he said. "It failed with Lift."
The track of the lift is a positive for the market because bulls, investors who expect the stock to rise, tend to To be incredible, he added.
"We had a rational lack of cheating for Lyft, a loss-making company that seemed like it would be red, at least to me. … Lift was freezing, "Cramer said, referring to the former hip-hop duo Outkast." And that's good news for the rest of the market because a flood of hot IPO is the last bulls need. "[1
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