Jim Cramer confirms it's not too late to buy SpaceX, under one condition
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CNBC's Jim Cramer said Friday that it's not too late for investors to buy SpaceX after its blockbuster debut— but only if they're willing to view the stock as a long-term bet on the future rather than a traditional investment.
Key facts
SpaceX debuted on the Nasdaq on Friday, opening at $150 per share but surging as high as $176
Elon Musk's rocket company closed the session with a market cap of $2.1 trillion
Cramer also praised the handling of the IPO by Goldman Sachs and Morgan Stanley, saying the two leading banks on the deal struck a balance between institutional and retail demand, while avoiding
CNBC's Jim Cramer said Friday that it's not too late for investors to buy SpaceX after its blockbuster debut— but only if they're willing to view the stock as a long-term bet on the future rather
Summary
"If you're willing to look at this as a different kind of stock, not a short or even medium term investment. then you've got my blessing. SpaceX debuted on the Nasdaq on Friday, opening at $150 per share but surging as high as $176. "This is a long-term call on space exploration," Cramer said. Rather than focusing on current losses and cash outflows, Cramer argued that many investors are buying into Elon Musk's long-term vision and a pipeline of projects that may take years to fully materialize.