Jim Cramer suggests holding off from buying shares of exercise equipment manufacturer Peloton until after its lockup on insider trading expires in March.
— and wants to call it a buy now, but argued the best time to build position in the equity is three months in to 2020.
"In a vacuum, I would recommend Peloton right now. That's how fast it's growing and I like that," he said. However, Peloton is a fresh IPO in a market "that dislikes them right now," said Cramer, adding that the lockup on insider trading will expire in early 2020. "When that happens in March — I know that's still a [long] way, but people are going to be thinking about it — I expect the stock to get hit," he said. "Now that is probably when you pounce."for the same reason, warning that the stock would tumble after its insider selling lockup period expired last week. Uber, which debuted on the market in May at $42 per share, set an intraday low of $25.58 after the ban was lifted.
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