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

MarsBitNews
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Mars Finance 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 medium-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 day, and closing with a market capitalization of $2.1 trillion. The strong rise 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 motivated by its current profitability but are betting on 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 incur losses 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, 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 close to the offering price.
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