Hey, I'm Kramer.

Welcome to MADMoney. Welcome to Kramer.

I'll do my friends. Hey, look, I'm just trying to save you a little money.

My job is not just to entertain, but to explain, teach, put in context, call me 1-800-743 CBC.

Tweet me at Jim Kramer.

Valuation matters.

Sure, you can pay whatever you want for stock.

You, it's personally you. You don't have to tell anybody.

But the price you pay does ultimately matter to your bank account,

especially if you're one of the people who got in on the initial public offering of Figma, the digital design company, which priced its IPO at $33 today,

then saw it open for trading at $85, and finished the day at $115 and changed.

Did you take some off? Did you ring the register? Or did you just let it ride?

Somehow Figma captured the zeitgeist of the entire joint. No, the entire market. Even as the averages got hit today, down sliding with 330 points, as it beat declining point 37%. NASDAQ edging 0.03%. And do you know why that happened? Was it the Fed? Was it the president? Was it earnings? No.

It happened because of Figma. This market went down because of Figma. Why? Because valuation matters.

What matters to this market is to be reasonable. And we weren't today. Today was dominated by euphoria. And guess what?

Euphoria is bad for business.

What should have been about? Well, how about Microsoft? How about that?

Nope, they were overshadowed by the fig man Carnival. It was all anyone talked about down here.

Called me old-fashioned, but I really wanted the market today to be defined by those earnings reports from two tech titans.

I'm talking about Microsoft, briefly a $4 trillion company today before closing just below that level, and meta.

It's just under $2 trillion. I wanted these to be foundational. This is the word that every CEO now uses about

anything important, which I have no idea what it means, but it sure sounds great. I wanted it

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