[SPCX] SpaceX IPO

adoo · Jun 22, 2026 at 2:21 PM

adoo said: ↑

food for thought,

CNBC’s Jim Cramer has warned that SpaceX’s upcoming initial public offering (IPO) carries significant financial risks, pointing to the company's $4.9 billion net loss in 2025 and $37 billion in cumulative debt despite generating $18.6 billion in revenue. He cautioned that a limited initial release of shares could lead to an artificial valuation bubble that drains money from other market sectors.

Cramer’s primary concerns regarding the SpaceX public debut include:

Financial Fundamentals vs. Hype: He noted that despite strong top-line revenue growth (largely driven by Starlink), massive spending on AI data centers and Starship infrastructure has weighed heavily on profitability. He stated that purely based on the numbers, justifying a $1.75 trillion to $2 trillion valuation is difficult.

"Sliver" Share Strategy: Cramer fears that if underwriters only release a tiny sliver of stock, intense demand from passive index funds and retail investors will send the stock soaring to $4 to $6 trillion—creating a speculative bubble that could burst later.

Market Contagion: He warned that the sheer capital required to buy into the massive SpaceX, OpenAI, and Anthropic IPOs will force institutions to sell off heavy amounts of existing, profitable holdings (such as Amazon and Microsoft) to raise cash, putting downward pressure on the broader market.

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2 weeks after the IPO. market actions suggest that Cramer knew what he was talking about.
His warning about the "$37 billion in cumulative debt" was warranted.

SpaceX stock down again, shaving off some IPO gains;
confirms debt offering

Also on Monday morning, SpaceX confirmed its first-ever bond sale in a filing. SpaceX confirmed that it "intends to use the net
proceeds from the Notes offering to repay the outstanding borrowings under its bridge loan facility in full" and for other
related fees and expenses.

Bloomberg reported late last week that SpaceX was prepping an offering in the $20 billion range.
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suggesting that more debt offerings in the future.

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[SPCX] SpaceX IPO

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