Jim Cramer warns that there may be more panic – and selling – ahead as fears over U.S.-China trade relations are reignited.
David Paul Morris | Bloomberg | Getty Images
The stock market might not be able to handle a "one-two punch" from Uber's IPO and potential tariff increases on Chinese imports this coming Friday, Cramer warned."Mad Money"President Donald Trump's plan to hike tariffs from 10% to 25% on $200 billion worth of Chinese goods has already caused stocks to sell off in the first two days of the trading week, Cramer said.A driver uses an Uber Technologies car service app on a mobile device while driving in Washington, D.C.
"As much as I hate to be a negative Nancy ... I would pass on Uber, unless you can get a piece of the actual IPO and then immediately ring the register at the opening," the host said. "Other than that, though, when you look at the fundamentals, which no one is doing … there's just not much here worth getting excited about."is a reasonable valuation, but it won't be cheap, Cramer said.
"There's a universe where that is cheap beyond, not for a company with 20% revenue growth, though," Cramer said. "Although, it's a heck of a lot less pricey than what we've seen [from other IPOs], and it's cheap, downright cheap, versus IPO-darling
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cramer Remix: Facebook and Amazon suffered from 'guilt by association' after Alphabet's earnings shortfallCramer Remix: Facebook and Amazon suffered from 'guilt by association' after Alphabet's earnings
Read more »
Cramer Remix: Own Apple, don't trade it — The stock could have more upsideJim Cramer breaks down how Apple's subscription model is making the stock even more enticing.
Read more »
Cramer Remix: Why buybacks have not benefited Bed Bath & BeyondJim Cramer explains how the retailer has hurt itself by spending fortunes buying back stock.
Read more »
Cramer Remix: Occidental Petroleum's deal with Buffett is ill-advisedJim Cramer breaks down Buffett's investment in Occidental and why he thinks the company could get a better deal elsewhere.
Read more »
Cramer Remix: China needs us more than we need ChinaJim Cramer explains how the United States has the upper hand in trade negotiations with our stronger, cash fueled economy.
Read more »
Jim Cramer swaps Twilio for Red Hat in his 'cloud kings' group of hot tech stocks'I'm not going to tell you that it's cheap, but I'd much rather own Twilio than these shiny new objects,' Cramer said.
Read more »