Despite his continued concern about the delta variant, as well as China and the looming debt ceiling crisis, it's initially public offerings, or IPOS, that are keeping Cramer awake at night - when he tries to sleep that is.
2021 has seen 304 initial public offerings so far, putting 2021 on par for a record year.
On Mad Money Tuesday, Cramer warned that IPO fatigue is here and it's here to stay.
"IPOs have always been tilted in favor of investors, Cramer explained, and are designed to always see a first-day surge. But lately, your first day of trading is a coin toss, Cramer said, and the days that follow are anyone's guess. Even the much-hyped Robinhood couldn't break free of the downward IPO spiral," Scott Rutt wrote in his Mad Money Recap.