On Wednesday, SpaceX shares dropped 13.6% following the company's first earnings report since its June IPO, despite revenue exceeding expectations. The report revealed significantly increased capital expenditures, which may contribute to short-term stock pressure, especially with 911 million previously locked-up shares becoming eligible for trading.
Cramer emphasized that investors should not fixate on quarterly results but rather consider the long-term growth potential of SpaceX, which includes ambitious projects like the Starship rocket program and the expanding Starlink satellite internet service. He expressed confidence in Musk's ability to secure funding for these initiatives, which could take years or decades to fully materialize.
Cramer concluded that while the timing of significant returns is uncertain, SpaceX could ultimately prove to be a valuable investment for future generations