AI Generated Image
Jim Cramer gives Elon Musk's SpaceX a ringing endorsement after last week's IPO
CNBC • • business
Key Points:
- Jim Cramer reflects on his initial skepticism about Tesla at its IPO in 2010, acknowledging that although he missed early gains, he values transparency and staying true to his convictions.
- He is now highly optimistic about SpaceX’s recent IPO, viewing the company as a multifaceted enterprise with strong growth potential across divisions like Starlink, satellite technology, and data centers.
- Cramer praises Starlink’s competitive pricing and performance, predicting widespread adoption due to its superior service and cost advantages over traditional cable and wireless providers.
- He highlights lucrative contracts SpaceX has secured for cloud computing services, emphasizing the company’s profitability and potential to expand further into technology sectors like GPUs and AI.
- The SpaceX IPO was managed effectively by underwriters Goldman Sachs and Morgan Stanley, avoiding pitfalls seen in other tech IPOs, and Cramer anticipates continued stock appreciation supported by inclusion in the Nasdaq 100.
