Jim Cramer confirms SpaceX’s blockbuster IPO could have major implications for the week ahead
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CNBC's Jim Cramer on Friday said SpaceX's blockbuster debut could pave the way for a new wave of AI-related equity offerings and help create a more constructive backdrop for stocks.
Key facts
Elon Musk's rocket company debuted Friday and finished the session at $161 per share, giving SpaceX a market value of roughly $2.1 trillion
New additions include Rocket Lab, Astera Labs, Teradyne, Nebius, and CoreWeave, while Verisk, Cognizant, Insmed, Zscaler, and Charter Communications will be removed from the index
Never has one initial public offering captivated the minds of Wall Street and perhaps Main Street as much as Elon Musk's SpaceX," the " Mad Money " host said
Thursday will also mark the final trading session before a major Nasdaq-100 rebalance takes effect
Summary
"Never has one initial public offering captivated the minds of Wall Street and perhaps Main Street as much as Elon Musk's SpaceX," the " Mad Money " host said. Elon Musk's rocket company debuted Friday and finished the session at $161 per share, giving SpaceX a market value of roughly $2.1 trillion. "Bankers work fast these days," Cramer said, explaining the idea would be to "strike while the iron is hot. "The reporter doesn't know if they can resist selling stock after seeing how SpaceX played out," he added.