On tonight’s MAD MONEY, Cramer featured the IPO frenzy with 2 positive and 1 negative. He already reviewed IPGP and GUID as very positive IPO’s, but he actually panned ARTE and said it is far too speculative to buy.
Artes Medical (ARTE): This is an antiwrinkle company that he really likes and said it was designed to get his blessing. He said this would have been called a bad company in the old days, but he thinks it is too speculative to merit a buy. The FDA won’t allow it to be marketed as a permanent solution, and they only have 1 product. This could be deemed unsafe by doctors and it could be sued. It needs cash, and Cramer doesn’t like the need for cash and the burn rates. No earnings, no sales, could be abused by Allergan and others……You get the picture, he doesn’t like it.
I will predict that the company asks to come on his show shortly after coming public, assuming that the Cramer pan didn’t just result in the IPO being pulled. This IPO-featuring on a pre-pricing basis just doesn’t seem right.
Jon C. Ogg
December 12, 2006
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