Peloton is set to go public on the Nasdaq today under the ticker (PTON) .

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 Report) and Nike (NKE - Get Report) .

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