{"id":121714,"date":"2021-09-23T01:28:13","date_gmt":"2021-09-23T01:28:13","guid":{"rendered":"https:\/\/fin2me.com\/?p=121714"},"modified":"2021-09-23T01:28:13","modified_gmt":"2021-09-23T01:28:13","slug":"jim-cramer-says-toast-is-a-good-company-but-its-stock-is-too-expensive-to-buy-right-now","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/jim-cramer-says-toast-is-a-good-company-but-its-stock-is-too-expensive-to-buy-right-now\/","title":{"rendered":"Jim Cramer says Toast is a good company, but its stock is too expensive to buy right now"},"content":{"rendered":"<ul>\n<li>CNBC&#x27;s Jim Cramer advised investors to stay away from Toast shares at their current levels.<\/li>\n<li>The restaurant technology provider was valued at more than $31 billion after its public debut Wednesday.<\/li>\n<li>&quot;I like Toast the company, but don&#x27;t chase Toast the stock,&quot; Cramer said.<\/li>\n<\/ul>\n<p>CNBC&#x27;s Jim Cramer advised investors to hold off on buying shares of Toast after the restaurant technology company&#x27;s public markets debut Wednesday.<\/p>\n<p>The &quot;Mad Money&quot; host said he believes Toast is a &quot;great company,&quot; noting he understands the importance of its tech offerings such as point-of-sale hardware because he&#x27;s a restaurant owner himself.<\/p>\n<p>However, &quot;I can&#x27;t recommend the stock up here, not with this valuation and it&#x27;s kind of somewhat minor moat,&quot; Cramer said, pointing to competition from the likes of Square and Lightspeed.<\/p>\n<p>&quot;Not only do Toast&#x27;s customers lack loyalty, they often can&#x27;t even afford to pay their bills. That is not the best clientele,&quot; he added, referring to the financial struggles many restaurants have experienced during the Covid crisis.<\/p>\n<p>&quot;Again, that&#x27;s no knock on Toast. .. It&#x27;s just that this thing has been bid up to ludicrous levels. &#8230; At a much lower price, I&#x27;d be telling you to buy it hand over fist,&quot; Cramer said.<\/p>\n<p>Shares of Toast closed at $62.51 on Wednesday, putting the company&#x27;s market cap to over $31 billion. Toast sold shares at $40 each in its IPO, above its expected range, to raise $870 million.<\/p>\n<p>&quot;Here&#x27;s the bottom line: I like Toast the company, but don&#x27;t chase Toast the stock,&quot; Cramer said. &quot;There&#x27;s too much risk, too much competition, not enough earnings and most of all, take it from me, they&#x27;re dealing with the worst set of clients in the world: struggling restaurateurs.&quot;<\/p>\n<p>Questions for Cramer?<br \/> Call Cramer: 1-800-743-CNBC<\/p>\n<p>Want to take a deep dive into Cramer&#x27;s world? Hit him up!<br \/> Mad Money Twitter &#8211; Jim Cramer Twitter &#8211; Facebook &#8211; Instagram<\/p>\n<p>Questions, comments, suggestions for the &quot;Mad Money&quot; website? madcap@cnbc.com<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/09\/22\/jim-cramer-says-toast-is-a-good-company-but-its-stock-is-too-expensive-to-buy-right-now.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNBC&#x27;s Jim Cramer advised investors to stay away from Toast shares at their current levels. The restaurant technology provider was valued at more than $31 [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":121713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jim Cramer says Toast is a good company, but its stock is too expensive to buy right now - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/jim-cramer-says-toast-is-a-good-company-but-its-stock-is-too-expensive-to-buy-right-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jim Cramer says Toast is a good company, but its stock is too expensive to buy right now - Fin2me\" \/>\n<meta property=\"og:description\" content=\"CNBC&#x27;s Jim Cramer advised investors to stay away from Toast shares at their current levels. 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