IPOS - Jim Cramer Backs Viking's IPO Despite Premium Price: 'I Think It's Going To Be A Winner' | Benzinga
CNBC’s Jim Cramer has expressed his support for the initial public offering of Viking Holdings Ltd (NYSE:VIK), despite its high valuation.
What Happened: Cramer, on his show “Mad Money” on Thursday, discussed the IPO of Viking, a luxury cruise line, which is the largest IPO of the year so far, reported CNBC.
He noted that Viking’s stock is more expensive than its peers but still believes it’s a good investment.
Viking’s IPO was priced at $24 per share and began trading at $26.15 on Wednesday, closing at $26.10. The stock further rose to $26.99 on Thursday.
"Even though Viking's somewhat hot start has made its stock more expensive than its cruise line peers, I am willing to pay up for this one, because I think it's going to be a winner," he said.
Cramer highlighted Viking’s unique selling points, such as its ships not having ...