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Updated from 7:48 p.m. EST
Jim Cramer told viewers of his "Mad Money" TV show Tuesday to take a look at three initial public offerings scheduled to take place this week:
Guidance Software and
The public, media and Wall Street all are "fascinated with IPOs," he said. But although market-players can get coverage on these IPOs everywhere, only "Mad Money" gives advice on which ones to buy and which ones to avoid, and at which price to get in and out, Cramer said.
Cramer recommended staying away from
(HTZ - Get Report)
, and suggested getting into
when they came public.
Cramer also warned people to beware "
(VG - Get Report)
the Dog." However, he said he got
wrong because he trusted the private-equity firms that took it public.
When analyzing an IPO, Cramer said there are a few things people should consider. He advised investors to take a look at how the IPO is priced, then closely examine its "hotness."
Third, when Cramer looks at an IPO, he said he tries to figure out if it's "desperate" and needs the cash or if it's in good shape on its own. Furthermore, he thinks about whether or not the IPO should be "tossed back," and he always decides at which price he should sell it.