Jim Cramer: SpaceX investors betting on Elon Musk's vision, not current earnings
By
Alexa LoMonaco
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
CNBC's Jim Cramer commented on SpaceX's post-IPO stock surge, arguing that investors are buying into Elon Musk's visionary leadership and track record of building transformative companies rather than SpaceX's current earnings. Following its IPO, SpaceX's valuation briefly surpassed Microsoft's, raising questions about market valuation dynamics.
Key quotes
· 2 pulledThe stock is called SpaceX, but it might as well be called Elon Musk.
Jim Cramer said Tuesday that investors flocking to SpaceX are betting on Elon Musk's ability to create transformative businesses — not the company's current earnings power.
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