Jim Cramer breaks down Tradeweb's IPO and explains why the stock could be worth buying.
CNBC's Jim Cramer on Friday said Tradeweb Markets, the electronic trading platform that listed on public markets Thursday, could be worth buying when compared with MarketAxess.
Although shares of Tradeweb are selling for roughly 31-times 2019 earnings estimates, MarketAxess, another electronic trading platform for bonds, is trading for 50-times earnings, he said. Cramer said he likes Tradeweb's business because average daily volumes grew 37% last year and the company is already profitable, which is uncommon for an IPO. January was the company's best month in its more than 20 years of business. It could have topped that performance in February, if it wasn't a short month, he said.
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