Is SpaceX overvalued? "Only because Musk runs it"
Jim Cramer, a journalist from the American station CNBC, stated that investors buying SpaceX shares are guided not by the company’s profitability but by faith in Elon Musk’s ability to manage the business.
"The shares are named SpaceX, but they could just as well be called Elon Musk", the host of "Mad Money" said.
"There is no way that this company, which could be losing money for many years, deserves such a high valuation on its own. It achieves it solely because, it is run by Musk", he added.
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The company’s market value not only placed it among the world’s most valuable firms but also made the former billionaire the first trillionaire, currently holding the top spot in the Bloomberg Billionaires Index with a net worth of about 1,3 bln USD.
Musk seems not to slow down, and according to his recent announcements, by 2030 SpaceX could achieve annual revenues of 1 bln USD.
On Tuesday the company announced the acquisition of AI startup Cursor for 60 bln USD in shares.
The CNBC journalist claims that the company’s attractiveness, mainly due to its field of activity, far exceeds forecasts.
The development of the Starlink network, or long‑term plans for data centers, are some of the many assumptions that, according to Cramer, could ultimately become significant engines of future growth.
The station emphasizes that SpaceX, like Berkshire Hathaway under Warren Buffett, could become an interesting example of a company that investors "automatically" target.
"By buying SpaceX shares now, you’re really buying Elon Musk’s mind. I think, that Musk’s cult is very much real", Cramer said.
"While you sit here trying to justify SpaceX’s valuation, buyers keep pushing the price up and I bet they will keep doing it", he added.
However, a series of doubts raise image problems for Musk, amplified by his involvement with the administration of Donald Trump under DOGE, the Department of Government Efficiency responsible for wide‑scale budget cuts in areas such as healthcare, social security, or food aid.
SpaceX’s IPO temporarily also smothered Musk’s company, xAI, with the Groke.
The AI‑based chatbot not only directed insults at X users but also engaged in repeating conspiratorial content.
Also read: Space IPO and massive losses. SpaceX share price fell. Investors didn’t expect this
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SpaceX shares rise after successful debut
SpaceX share price closed on Tuesday, June 16, up 4.83% at 201.80 USD.
In pre‑market trading, the price reached 208,11 USD, up 3.17%.
Chart. SpaceX share price
Source: TradingView.
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Sources: CNBC, Bloomberg Billionaires Index.
