Jim Cramer says it's not too late to buy SpaceX — under one condition

On Friday, CNBC's Jim Cramer expressed that it's still a viable time for investors to consider purchasing shares in SpaceX, following its impressive market debut. However, he emphasized that potential buyers should approach this investment with a long-term perspective rather than expecting quick returns. During his segment, Cramer remarked, "Is it too late to get into SpaceX? If you're willing to view this as a different kind of stock, not for short or medium-term gains, then you have my endorsement." SpaceX launched on the Nasdaq at $150 per share, peaking at $176 before finishing the trading day with a market capitalization of $2.1 trillion. Despite the stock's rapid rise, concerns have surfaced regarding whether its valuation is ahead of its current financial performance. Cramer reassured viewers that investors are not just banking on the company's current earnings; instead, they are placing bets on the future of space exploration. He noted, "This is a long-term call on the prospects of space travel." Cramer pointed out that many investors are optimistic about Elon Musk's vision and the array of projects that will unfold over the years. "They've weighed the risks and understand that losses could be significant in the near term," he explained. This mindset of looking past immediate financial results helps clarify the stock's robust debut, as Cramer suggested. While some skeptics raise questions about the company's valuation, he highlighted that shareholders are focused on the vast potential that SpaceX could unlock in the future. For investors who align with that vision, Cramer advised that market pullbacks should be seen as opportunities to invest further. "If the stock dips, seize the chance to buy more because the potential upside is possibly unimaginable," he stated. Cramer also commended the IPO management by Goldman Sachs and Morgan Stanley, noting that the banks effectively balanced institutional and retail demand, steering clear of the chaotic surges that can follow an IPO. He concluded by acknowledging the reasonable opening price relative to the IPO, which helped avoid panic among investors. Cramer’s Charitable Trust, which operates under the CNBC Investing Club, holds shares in Goldman Sachs.