Jim Cramer: It's not too late to buy SpaceX stock now; the pullback should be seen as a buying opportunity

BlockBeats News, June 13 — Former hedge fund manager and CNBC program host Jim Cramer stated that buying SpaceX after its IPO is not too late, but only if investors view it as a long-term bet on the future of space exploration rather than traditional stock investing based on short-term profit valuations. Cramer said, "Is it too late to buy SpaceX now? If you’re willing to see it as a different kind of stock, rather than a short-term or even mid-term investment, then you have my approval." SpaceX went public on Nasdaq on Friday, with an opening price of $150 per share, reaching a high of $176 during the trading session, and closing with a market capitalization of $2.1 trillion. The strong rally in the stock also reignited market concerns about whether its valuation has already exceeded its current financial performance.

Cramer believes that investors buying SpaceX are not just betting on its current profitability, but are betting on Elon Musk’s long-term vision and a series of projects that may take years to realize. He stated, "This is a long-term bet on space exploration." He also said that investors have already considered the associated risks and are aware that SpaceX may continue to operate at a loss for a long time.

For investors who agree with this long-term logic, Cramer said that a stock price pullback should be seen as an opportunity rather than a reason to exit. He stated, "If it drops, then you should buy more because its upside potential is hard to imagine." Additionally, Cramer praised Goldman Sachs and Morgan Stanley for their handling of the SpaceX IPO, believing they struck a balance between institutional and retail demand, and that the opening price was reasonably set relative to the offering price.