'This market wants companies that have good growth with dividends and buybacks, not companies that have high growth and big losses,' Cramer says.
The at-home fitness company had one of the worst debuts of the year among IPOs of more than $1 billion — second only to online dentistry firmpostponed its embattled IPO
"This whole class is turning into a farce," Cramer said, referring the 2019 IPOs. He added, "We need fewer SmileDirects." Cramer said the company, which is Hollywood's biggest talent agency, didn't need the $600 million it was hoping to raise, pointing to its strong earnings before interest, tax, depreciation and amortization.
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