Cramer's 'Mad Money' Recap: Sale on Kroger

Starent in His Eyes

This week, Cramer's taking a first look at overlooked initial public offerings. So far in his five-part series, he's suggested people consider buying Dolan Media (DM Quote - Cramer on DM - Stock Picks), comScore, (SCOR Quote - Cramer on SCOR - Stock Picks) and Athenahealth (ATHN Quote - Cramer on ATHN - Stock Picks).

Before recommending his overlooked IPO for the day, Cramer advised viewers to wait for a pullback when looking at these stocks because a lot of them "have gotten pricey," he said. If the stocks don't come down, don't buy them, he stressed.

Moving onto his overlooked IPO pick of the day, Cramer highlighted telco name Starent Networks (STAR Quote - Cramer on STAR - Stock Picks).

Starent, he said, is a great story. It has technology that is the backbone for sending photos, watching videos or playing games on your phone, Cramer explained. Some of its biggest clients include Verizon (VZ Quote - Cramer on VZ - Stock Picks), Sprint Nextel (S Quote - Cramer on S - Stock Picks) and Vodafone (VOD Quote - Cramer on VOD - Stock Picks).

The company came public on June 5 and is up about $10 a share since then, but Cramer believes it could be the next Qualcomm (QCOM Quote - Cramer on QCOM - Stock Picks).

In a slowing economy where fewer and fewer companies are displaying good growth, Starent has a long-term growth rate of 57%, he said. It has great growth and superior technology, but "the price isn't quite right," Cramer said. Therefore, wait at least a week if not more for a pullback in this stock, he warned. "And if it doesn't come in, take a pass."

For people who are really eager to get in, Cramer suggested buying 25 out of 100 shares now and buying the rest on a pullback.

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