Jim Cramer says SpaceX could not sustain its IPO walk-up

Price ActionM&A · Partnership Impact 4
โดย TheStreet·Read original
Summary · why it matters

Jim Cramer declared that SpaceX could not sustain its post-IPO walk-up, after the stock surged 50% above its $135 offer price and then fell roughly 20% from its peak above $225. SpaceX went public on June 12 at $135 per share in the largest IPO in stock market history, briefly reaching a market value of nearly $3 trillion and making Elon Musk the world's first trillionaire. The reversal followed a June 16 announcement that SpaceX would acquire Anysphere, the company behind the AI coding agent Cursor, for $60 billion in an all-stock transaction, representing roughly 3.4% dilution of the $1.77 trillion IPO valuation. Morningstar lowered its fair value estimate to $62 from $63, while Oppenheimer analyst Timothy Horan raised his price target to $250 from $190, applauding the deal. SpaceX reported $18.7 billion in 2025 revenue but a net loss of $4.9 billion, and bankers are preparing a bond offering of at least $20 billion to refinance a bridge loan maturing in September 2027.

Impact on stocks 3

Financials▼ · 2 stocks
Morningstar Inc
MORN
▼ NegativeCapitalrelevance

Morningstar lowered its fair value estimate for SpaceX to $62 from $63, reflecting a negative view on the stock.

Space Economy▼ · 1 stocks

Off-coverage companies 1

CursorPrivate▲ Positive
Capitalrelevance

Cursor (Anysphere) is being acquired by SpaceX for $60 billion, a positive outcome for the company.

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