Jim Cramer cautious on SpaceX IPO, cites valuation concerns and three potential catalysts
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@cnbc.com
Sesame, salt, and substance. A flagship bake.
Summary
CNBC's Jim Cramer expresses caution about SpaceX's upcoming IPO, questioning its reported $2 trillion valuation given the company's less than $20 billion in annual revenue and steep losses from AI investments. However, he identifies three near-term catalysts that could improve the investment case. The IPO is expected to begin trading on June 12, with the prospectus recently released.
Key quotes
· 2 pulledPurely from the numbers, it's very difficult to justify giving SpaceX a $2 trillion valuation
The filing showed a business generating less than $20 billion in annual revenue while posting steep losses as it invests heavily in artificial intelligence
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