Cramer Warns Against Chasing Birkenstock IPO at Lofty Valuation

Jim Cramer says to avoid buying Birkenstock IPO shares on the first day of trading due to likely high valuation and feeding frenzy.

Birkenstock seeking $10 billion valuation and pricing shares at top of $44-$49 range according to reports.

Cramer warns buying any IPO at open is risky, especially one that doesn't need to underprice shares like Birkenstock.

Birkenstock has seen growth and popularity, but Cramer questions if it's a lasting trend or a fad.

Big investors already claiming about 42% of Birkenstock IPO shares, leaving scraps for retail investors at likely inflated prices.