Cramer Says This Recent IPO Is A 'Unicorn Fantastic Company'
CNBC's "Mad Money" host Jim Cramer explained on Monday why he is a big fan of Twilio Inc (NYSE: TWLO) following its IPO last week.
"Twilio has built a platform that is widely recognized as the gold standard for cloud based communications," Cramer said on Monday.
Cramer Issues An Update
On Wednesday, he followed up with a similar bullish tone during his daily "Stop Trading" segment. He pointed out yet again that Twilio is the "backbone" of many notable tech companies such as Uber and WhatsApp.
"It came public at a valuation that I believe was one quarter as it would have been had it come public in February of 2014," Cramer said Wednesday morning. "This is an original Unicorn fantastic company and now it has doubled."
Twilio initially priced its IPO at $15 per share, but by Wednesday afternoon it was trading at $34.76 — up more than 16 percent on the day after trading as high as $37.19.
Cramer added that Twilio's IPO could serve as an example for other Unicorn companies to follow.
Cramer further suggested that Twilio's stock is "not done going higher," as it is a "great company."
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