Jun 12, 2026 · 44 min
SpaceX debut tests investors’ patience and space-stock conviction
Mad Money w/ Jim Cramer 6/12/26
The episode frames SpaceX’s market debut as a test of whether investors can separate a powerful long-term theme from short-term excitement and valuation risk.
- 1Cramer favors SpaceX’s long-term space thesis but warns investors not to chase its initial surge.
- 2He recommends disciplined profit-taking in Astera Labs while favoring business quality and durable industry trends.
- 3He remains skeptical of declining media businesses and expensive turnarounds, even when their shares appear cheap.
Don't miss
Cramer argues that investors may have missed the first move in SpaceX without necessarily missing the long-term space-investment thesis.
The brief
SpaceX’s public debut dominates the episode, with Cramer weighing Elon Musk’s leadership and the long-term promise of space exploration against the danger of buying into an initial surge.
The central investment question is whether SpaceX’s momentum justifies its price, or whether patient investors should consider cheaper publicly traded space alternatives after the sector’s selloff.
Cramer’s portfolio advice follows the same discipline: trim roughly 25% of Astera Labs to recover the cost basis, hold Dell after its rise, and favor NVIDIA over AMD.
The episode broadens into AI infrastructure and income, favoring Vertiv and recommending Energy Transfer and Enterprise Products Partners for investors seeking more income than CDs.
Its sharpest warning comes on Adobe and Fubo, where executive departures, weak trends, and traditional media’s secular decline outweigh hopes for a rebound or an apparently cheap price.
What was said on this episode
37 statements · 22 positive · 12 negative · 2 mixed · 1 neutral
Elon Musk has strong ideas and execution; betting against him has historically been poor.
“Musk has the ideas and the execution. Historically, betting against him has been a terrible strategy. Betting with him? Hey, why the heck not?”
Listen at 1:08
The SpaceX IPO could have positive broader market repercussions.
“I think this deal could have some real positive repercussions and implications.”
Listen at 1:19
Anthropic investors will push for the company to pursue an IPO.
“The people who are invested in Anthropic will be agitating for a chance to ring the register with an IPO.”
Listen at 1:54
Microsoft, Meta, and Amazon may issue stock to fund AI investments.
“Microsoft, Meta, Amazon, they may also want to raise money to pay for their AI investments.”
Listen at 2:03
Inflation will decline dramatically.
“I am calling for a dramatic decline in inflation.”
Listen at 3:40
Fed Chair Kevin Wors will begin setting up future rate cuts.
“I predict worse will begin the process of setting us up for rate cuts on Wednesday because the underlying problems in the economy are persistent.”
Listen at 5:26
SpaceX will soon join the Nasdaq 100.
“SpaceX is going to be coming into the Nasdaq 100 very soon.”
Listen at 6:28
OpenAI and Anthropic are out-competing Accenture in some consulting work.
“Accenture. The consulting company has seen its stock fall a spectacularly terrible 36% for the year, largely because people believe that it's being out-competed by OpenAI and Anthropic.”
Listen at 7:17
Too many large IPOs could eventually weigh heavily on the market.
“But if we keep seeing big IPOs, eventually we'll be crushed under the weight of all that stock.”
Listen at 8:03
Investors should continue holding Eli Lilly.
“I want you to stay in the stock. I think it's a really good one.”
Listen at 8:49
Investors should avoid Progressive.
“I don't want you to touch it.”
Listen at 9:41
Investors should sell roughly 25% of Astera Labs and retain the remainder.
“You take 25% off. It's probably almost your entire cost basis. And then you let it run.”
Listen at 10:55
Investors should buy more SpaceX if its stock declines.
“if it comes down, I think you should buy more because the long term upside is conceivably unfathomable.”
Listen at 12:44
SpaceX will eventually rise substantially.
“I believe that eventually SpaceX will break out to the upside.”
Listen at 13:14
Investors should maintain some exposure to space-related assets.
“So I think it's worth having some space exposure”
Listen at 16:23
SES can compete in satellite connectivity markets.
“SES has the ability to compete.”
Listen at 18:02
SES stock represents good value based on satellites and spectrum assets.
“When you combine SES's satellite business with the value of their spectrum assets, I think the stock represents pretty darn good value here.”
Listen at 18:04
Investors should consider buying SES at current levels.
“SES, I like it here.”
Listen at 18:16
Investors should not chase Rocket Lab at current levels.
“there is no reason to chase this one at all.”
Listen at 20:24
Investors can likely obtain a better Rocket Lab entry after a pullback.
“I think you can get a much better entry point if you just wait for more of a pullback.”
Listen at 20:29
Patient investors may eventually find attractive entry points in space stocks.
“If you're patient, I bet you can eventually get a great entry point to do some buying.”
Listen at 23:10
Investors should buy Dell and trust Michael Dell’s execution.
“it's an easy call to say to buy Dell and to believe in Michael Dell.”
Listen at 24:20
NVIDIA is Cramer’s preferred chip stock, while AMD is also excellent.
“Right now, my favorite is NVIDIA. But AMD is fantastic.”
Listen at 25:11
AEVEX has a strong fundamental investment story despite new share supply.
“I still think the fundamental story here is terrific”
Listen at 30:20
Investors may buy some X Energy shares.
“you can buy some.”
Listen at 31:10
Cerebras Systems remains overvalued after its decline.
“Even after the pullback, this one's too rich for me.”
Listen at 32:28
Investors should continue holding Credo Technology.
“Credo's just so good. It's a networking company. Just hold on to it.”
Listen at 34:27
Manpower lacks sufficient growth and is unattractive to Cramer.
“Manpower's never done it for me. I'm sorry. Not a lot of growth there.”
Listen at 34:57
The unnamed debt-reduction turnaround stock is a value trap lacking growth.
“this is a value trap, I really do think. I mean, there's just something going on here. I've been studying it for a very long time. It does not have any growth. I don't want it.”
Listen at 35:11
Investors should hold Cadence Design and buy if its price declines.
“Cadence is a hold, and if it comes down, it's a buy.”
Listen at 35:49
Energy Transfer can provide approximately 7% income yield.
“We're going to go to Energy Transfer. That gives you seven.”
Listen at 38:41
Investors should consider Enterprise Products Partners for its 5.91% yield.
“I'm going to recommend Enterprise Product Partners. It yields 5.91.”
Listen at 39:00
Combining Energy Transfer and Enterprise Products Partners offers 6.5% yield with growth.
“you had a 6.5% yield with some growth. That's the best course for you.”
Listen at 39:05
Adobe is worth at most approximately $60 billion, below its $82 billion valuation.
“The fact is that the stock is valued at 82 billion and it probably is worth. I'd say maybe maybe 60 billion at the most.”
Listen at 40:33
Adobe is in secular decline and investors should avoid it.
“but it's in secular decline. And I don't want you in it.”
Listen at 40:44
Space data centers are unlikely to sustain memory-chip shortages when commercial.
“I don't think they will because by the time that they're commercial. I think we think there will probably not be a shortage”
Listen at 41:35
Traditional media is in secular decline and should not be bought merely because it looks cheap.
“This is an industry that's in secular decline and we're not going to invest in it just because it looks very cheap.”
Listen at 42:45
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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