This isn’t your typical IPO roadshow.
Instead of the conventional virtual roadshow, geared toward the big banks and major hedge funds behind closed doors, Robinhood live-streamed its event for the general public.
Robinhood plans to sell as much as 35% of its shares, or $770 million worth, directly to the customers using its app.
Jim Cramer said it’s this particular component of the debut that is catching his attention.
Drawing from his experience when during TheStreet's IPO, Cramer said he is worried that if Robinhood stock declines at its debut, undercapitalized investors may not have the funding to buy the stock lower.
Robinhood is expected to begin trading on July 29, trading in the range of $38 to $42 a share.
Cramer added that the debut is more important to watch than even earnings from his favorite FAANG names including Facebook (FB) - Get Facebook, Inc. Class A Report, Amazon (AMZN) - Get Amazon.com, Inc. Report, Apple (AAPL) - Get Apple Inc. (AAPL) Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/26