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Jim Cramer: Why the Current Market Environment Is Bad for Peloton

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Peloton is set to go public on the Nasdaq today under the ticker (PTON) - Get Peloton Interactive, Inc. Class A Report .

The company priced at $29, which values it around $8 billion, almost double the private valuation that it had prior to its IPO.

Jim Cramer explains why the current market environment may not be kind to the IPO, and why investors may be looking for companies with better valuations, such as McDonalds (MCD) - Get McDonald's Corporation (MCD) Report and Nike (NKE) - Get NIKE, Inc. (NKE) Report .

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