Market Overview

Cramer: 'Two Cheers' For 2 IPO Winners

Cramer: 'Two Cheers' For 2 IPO Winners

Recent IPO high-flyers Zoom Video Communications Inc (NASDAQ: ZM) and Beyond Meat Inc (NASDAQ: BYND) posted earnings reports that were "things of beauty," according to CNBC's Jim Cramer.

What Happened

Zoom and Beyond Meat each exceeded Wall Street expectations in their respective earnings reports and deserve "two cheers," Cramer said during his daily "Mad Money" show Friday.

The stocks may be "too rich now," but credit is due to early investors who "stuck with them," he said. 

In Beyond Meat's case, the plant-based food company is "adamant" it presents consumers with a "better burger," Cramer said. The company operates within a meatless category that stands at just 2 percent of households — so "no wonder the stock exploded higher," he said. 

Zoom impressed investors in its earnings report by highlighting 7,700 new customers along with four deals each valued at more than $1 million per year, the CNBC host said. 

Why It's Important

Zoom's stock was up more than 160 percent as of Friday's market close and Beyond Meat's return was more than 450 percent.

As a result, both names are "absolutely trading at stratosphere levels," Cramer said.

Nevertheless, the two IPOs were "fantastic for investors," and Cramer said he wished he would have been "more bullish about them."

What's Next

Zoom and Beyond Meat's momentum carried over into Monday's trading session.

Zoom shares were trading higher by 10.18 percent at the time of publication, while Beyond Meat shares were up 20.76 percent. 

Related Links:

Whitney Tilson: 'I Think We Are In An IPO Bubble'

How Beyond Meat's Insane Post-IPO Run Stacks Up

Photo courtesy of Beyond Meat. 


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