Are you ready to invest in The We Company?
Jim Cramer isn't.
WeWork filed its S-1 with the Securities and Exchange Commission on Wednesday, Aug. 14.
The company will be the second-biggest IPO of the year, after Uber UBER.
It plans to have three tiers of shares.
And The We Company will trade under the ticker "WE."
Cramer explained that he was hesitant about the company.
"The arrogance of it. Three classes of stock, but losing huge amounts of money, insider dealings. It's precisely what smells of a top. I don't want that to happen. The bankers have to bring deals. That's what bankers do. I don't know many bankers who would ever say, you know what? Let's wait. This is not the time. But this is not the time. Don't need it. If you're a person who wants higher stock prices, the last thing you want is WeWork to come public because it's just everything that I don't like about a deal is encapsulated in a company that's losing even more money than I thought," explained Cramer.
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