Investing in a company on IPO day can be a tricky proposition. "When I put in an order for an IPO, you're at the mercy of other investors who are willing to pay any price...no!" Cramer said. He believes that market orders in such situations can be very dangerous and costly.
Jim Cramer cautions on the importance of careful evaluation of the true market value of a company with proper due diligence before investing in an IPO, especially on the first day of trading.
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