Yahoo Finance
Every generational stock reaches a moment where its biggest fans start watching the tape with one eye closed.
And somewhere in the back of the room, a few people who own the dream begin asking how much of tomorrow has already been priced into today.
That moment arrived fast for the most hyped listing in market history.
SpaceX(SPCX) priced its initial public offering (IPO) at $135 a share on June 12 and raised about $75 billion.
It was the biggest stock-market debut on record, according toCNN.
The stock jumped roughly 19% on its first day, kept climbing through June 15, and by the morning of June 16 the aerospace and artificial intelligence (AI) company had passed Microsoft (MSFT) toward a value near $2.7 trillion.
Retail investors had reportedly placed more than $100 billion in orders before a single share changed hands.
Then one of the loudest bulls on financial television flinched.
CNBC's Jim Cramer, who has said more than once that he likes SpaceX, warned on June 16 that the stock had started to behave like something he no longer trusts.
Cramer's discomfort is about mechanics, not the mission.
He said he would hate to watch ameme stock, which is what he believes SpaceX has become, get "walked to the size ofNvidia" through a string of overnight moves with no one selling, in a post onX.
Nvidia (NVDA) carried a market value of roughly $5 trillion as of June 15, according toCompanies Market Cap, so he was describing a near doubling from where SpaceX trades today.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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