Snap (SNAP) , the parent company of Snapchat, will likely go down as 2017's most anticipated IPO. After opening 40% above its IPO price, the stock has seen a surprising lack of volatility. However, that may change when it reports its first earnings result as a public company Wednesday after the close.
"I think it will have a good quarter," TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange Monday.
The company came public in a smart way, as it had a lot of advertisers on board, Cramer explained. When Twitter (TWTR) went public, it too had a lot of buzz and advertisers as well. However, Snap seems to be better run than Twitter was when it went public.
For investors looking to buy Snap, Cramer said it can be a good trade going into earnings, but he would not endorse it as an investment yet. As for Twitter, though, he said the stock could be owned.
Twitter is actually doing quite well right now and the stock can be bought, he reasoned.
Analysts expect Snap to lose 19 cents per share and generate $157.98 million in revenue for the most recent quarter.
Cocktails & Cramer
Join Jim Cramer on May 23 for an exclusive party at Bar San Miguel, his Brooklyn tavern.
You'll get to watch a screening of Mad Money, after which Jim will arrive fresh off of the CNBC set to mingle, pose for photos and answer your investing questions.
Participants will enjoy dinner, drinks, an autographed copy of Jim's book Get Rich Carefully and a free one-year membership to Action Alerts PLUS, Cramer's VIP club for investors. (Current AAP members will receive one extra year of membership for free.)
When: Tuesday, May 23, 6 p.m. to 9 p.m. EDT
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