Levi’s stock is too rich to buy after a high-flying IPO

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Levi Strauss & Co, the maker of Levi’s jeans, kicked off the IPO frenzy by going public and making investors a lot of money, but the stock is now too high to buy, CNBC’s Jim Cramer said Thursday.

Shares of the jean company, which was founded in antebellum America, rocketed more than 30 percent during the session after listing at $17, as much as $3 higher than its expected offering. The stock closed at $22.41 in its…

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