Cramer Backs SpaceX for Children Despite 13.6% Drop as 911 Million Shares Near Unlock
Updated
Updated · CNBC · Aug 5
Cramer Backs SpaceX for Children Despite 13.6% Drop as 911 Million Shares Near Unlock
2 articles · Updated · CNBC · Aug 5
Summary
SpaceX fell 13.6% Wednesday after its first post-IPO earnings report, even though quarterly revenue beat expectations and investors focused on sharply higher capital spending.
911 million previously locked-up shares become eligible for trading Thursday, a near-term overhang that Cramer said could keep pressure on the stock.
Cramer argued investors should treat SpaceX as a decades-long holding, calling it a potential “100-year piece of paper” rather than judging it on the next few quarters.
Elon Musk’s fundraising record underpins that view, he said, along with long-run bets on Starship, Starlink and a growing compute business that already has rental deals with Anthropic and Google.