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Jim Cramer breaks down Peloton's IPO and where he thinks investors can find underdogs in the market. 

Let's Get Fit

Real Money Stock of the Day Peloton goes public on Nasdaq under the ticker (PTON) - Get Report Thursday. 

The company priced at $29, at the high end of the range--which was $26 to $29. 

Peloton is valued at around $8 billion, almost double the private valuation that it had prior to its IPO.

Underdogs?

Jim Cramer penned a Real Money column Thursday morning. The focus? Underdogs in the market. He's got two stocks that he's excited about.

"I get excited because many companies have tailwinds totally separate from the economy that is talked about endlessly, the economy that's dictated by surveys, sentiment and Federal Reserve blather," said Cramer. "Cases in point? Two large indicators - real canaries in the coal mine that show you can still make a lot of money if you simply position yourself to benefit from the tailwinds, knowing which way the wind blows."

Head on over to his Real Money column to find out what stocks Cramer's talking about. 

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