We have a ‘broken’ IPO pricing system

“I don’t want to say that the market is ‘broken, but the process of how we’re doing these deals is definitely broken,” CNBC’s Jim Cramer said Friday. “This is what happened in 1990 where the syndicate desk completely misjudged the public. And the public is back, and so they’re pricing deals like the public isn’t back and it’s just the same old, same old funds buying stock.”

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Fri, Dec 11 20209:15 AM EST