Jim Cramer wants investors to think generations ahead on SpaceX (Nasdaq: SPCX). On Wednesday’s Mad Money, he told viewers to set some shares aside for their kids or grandkids: “SpaceX could be a 100-year piece of paper,” he said, pointing to Starship and SpaceX’s growing AI compute business as reasons the real payoff could take decades to arrive.
He made that case a few hours after SpaceX shares had already sunk 13.6% earlier that same day, closing at $108.27 — a new low for the stock since it went public in June. Investors focused on $18.4 billion in quarterly capital spending despite an otherwise strong quarter, with revenue up 92% to $7.8 billion and ahead of estimates.
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Cramer had actually flagged the reason for that drop himself a week earlier, urging investors not to build a big position until Thursday’s lockup expiration hit and dragged the price down first. “Generally speaking, more supply results in lower prices,” he told viewers in late July.
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On Thursday, roughly 911.5 million previously restricted shares become eligible for sale — more than doubling SpaceX’s public float, from about 639 million shares to 1.55 billion, or from roughly 5% of shares outstanding to just under 12%.
At current prices, that puts more than $100 billion in stock in position to trade for the first time in a single day. It’s only the first tranche of several staggered unlocks still to come; Musk’s own roughly 42% stake stays locked until mid-2027.
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Shares were up 3.87% at $112.46 in Thursday premarket trading, a bounce off Wednesday’s closing low of $108.27 but still well below the stock’s $135 IPO price.
