Jim Cramer on SpaceX IPO: Can't recall a deal done as well as this one

[00:00:00]Let's bring in Jim Kramer now. He's the host of CNBC's Mad Money, of course.

[00:00:03]Jim, the stocks at the highs of the day.

[00:00:07]>> Look, this was beautifully done. It was an A+. Everybody involved did a terrific job. The the two uh book runners, Retail for Morgan Stanley, Institution for Goldman, they're superb. Uh I I've not seen a deal done as well as this one that I can recall. Uh I'm sure obviously Elon Musk had a great deal to do with it. It would be wrong not to say that, but really perfect, Kelly. It's just just a fantastic job. I I I've said that I thought it could go up to 2.5 uh trillion. It might do that, but you got in at a good price. Uh people who want to buy more who got in uh are going to have a very good average. It's it's really just very well done.

[00:00:45]>> You know what I was struck by, Jim? And CBC, again, I feel like I'm giving out too many shoutouts today, but they have this great piece. Talking to a lot of retail investors in the IPO, and the hilarious part of it was almost all of the retail investors acknowledge, yeah, it's probably overvalued in the short run. Yeah, the valuation is high, but they all have this sense of kind of wanting a piece of this for the long run. Um, you know, I know there's also a lot of people who just wanted to be in for the first day IPO pop. So, we'll see whether they can kind of hang on for the longer term because can you imagine what this company's quarterly results are going to be like and Gwen Shawwell talked to Morgan about this. They don't care. That thing could be up down 80%.

[00:01:21]It's going to be a mess, right, for a long time. So, >> well, you know, but that's okay. You can buy more. Uh my friend Brad Gerser said a lot of really good things about what the actual deal means. I feel like it in some ways we're losing everywhere against the Chinese or at least the press makes us feel like it. But we're not losing in space. We're not losing his base because Elon Musk has a vision.

[00:01:42]You're allowed to buy a piece of what Elon Musk is doing. I'm very proud. I I think that certain point I'd like to have it for my charitable trust. It's I talk about it so I can't. But you know, you know, Kelly, sometimes deals are done and they really pop just as much as they should and they attract people. Uh it's not outrageous. It's not cerebrous.

[00:02:01]It's not Figma. It's just a very good deal, very well priced. and people who want to buy it, I think, should absolutely go do it. So, there's nothing embarrassing about it. There's always a couple of people who are um they're kind of house bears and you can dig them up and they're going to come up with a lot of negative things, but I've been seeing that since I got in. I walked down Wall Street uh 44 years ago when the Dow was at about a thousand. And the same naysayers, some of them are still around, but we got new naysayers. They kind of do the same thing. And they've kept people from being wealthy. uh and and their jobs, the people who have the regular jobs that would never make them wealthy. I feel like we should want to encourage wealth and this one is ultimately going to make people a lot of money.

[00:02:43]>> Do you think though, Jim, that people are going to have to think really long term about, you know, when you buy it at two two and a half in the valuation? I mean, look at Tesla. It's market cap hasn't moved around all that much in recent years. So, you know, buy it, own it, put it away, whatever. But I guess that's what I mean. I expect there to be quite a lot of volatility in the near term. It might take a while for this one to really be, you know, a a massive wealth builder.

[00:03:06]>> Well, you know, Kelly, the the Chinese targeted uh robots and they targeted cars. Uh and when the PLA and the Chinese government get together, they can really wreck a lot of industries as many working people in our country know.

[00:03:19]Uh I think that Elon Musk will not will not tolerate that. And so therefore, I think that we're going to own space.

[00:03:26]This is a person who uniquely understands how important owning space is. Uh, and I think that I want to be with him. I I I don't care, you know.

[00:03:36]And by the way, he has things in his head right now that are probably far more valuable than what we see and just hasn't articulated. That's the same thing that Jensen Wong, another genius, did. He had a lot of things in his head that hadn't been fully articulated that have been all coming true. I think there's more to this company than what's in the perspectus. Uh, and I think that I don't know personally I'm proud proud to be an American today. I know uh it's to be reflective sound almost silly because we're talking about pieces of paper, but I think this one is more than a piece of paper. I think this reminds me very much when we landed on the moon and I realized that we had beaten the Russians. Uh, and at that point, I know it sounds hard to believe, but the Russians in the press were supposed to be beating us in everything in every part of technology. and we run that we won that race and something changed in our country where we believed that we were superior. We've since we since then of course fell back and believed that the Russians were superior again.

[00:04:27]There's always some people who I guess are supposed to be superior.