Jim Cramer explains why he's using caution ahead of Pinterest's IPO.
Pinterest will soon go public and there is cause for concern that investors should pay attention to, CNBC's Jim Cramer said Friday.
Cramer noted user growth in the U.S. has started to cool off as the company expands overseas. It registered 184 million monthly average users in the fourth quarter, up from 160 million in the same period of 2017 and up from 90 million the year prior."Given that they make $9 per user in the United States and just 25 cents per user in the rest of the world, the company still has a ton of room to monetize their international business," he said.
"I think there's some price where Pinterest is absolutely worth owning — it's a good story, even if it's not perfect," Cramer said."However, as we saw with the botched Lyft deal, valuation really matters."The major U.S. indexes all rallied Friday on the backs of Walt Disney, J. P. Morgan Chase, and Chevron, but Cramer warned that"this positivity" will be hard to sustain.
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