Jim Cramer: Grubhub IPO Investors Proceed With Caution

TheStreet's Jim Cramer reviews the Grubhub IPO from the New York Stock Exchange. Cramer says Grubhub is profitable, unlike other IPOs from the early 2000s like Webvan, which had "nothing" behind it. Cramer says Grubhub stock is trading higher because people love the service and want to buy into the company. While Cramer understands that mentality, he warns investors to be careful because the stock is not cheap.

At the time of publication, Cramer was long ___.