Between June 17 and press time on June 23, it appeared at face value that the popular online notion that Jim Cramer tends to not only be wrong, but spectacularly wrong with hilarious timing, played out with regard to SpaceX (NASDAQ: SPCX) stock.
Specifically, on Wednesday, June 17, the former hedge fund manager and TV host published an X post in which he stated he anticipates SPCX shares to climb at a rate of 1 point per hour.
The statement came shortly before SpaceX stock halted its immediate post-initial public offering (IPO) rally, and Elon Musk’s newer trillion-dollar company is 19% in the red since it was made.
Furthermore, even following the Tuesday, June 23, pre-market 1.34% rally to $156.67, SPCX shares are trading below any value they recorded since hitting the public markets – barring the closing hours of the June 22 session – meaning every investor who went long following the IPO orders is down on the trade.
Was Jim Cramer right about SpaceX stock rally?
Elsewhere, it is notable that, as much as the setup with Cramer’s X post might indicate in a vacuum, the TV host has actually been somewhat bearish about SPCX, and the candor of the June 17 call for a rapid rally can be questioned.
For example, after explaining on June 12 he’d rather see SpaceX equity rally up to 30% after the IPO and not more to encourage people to ‘hang on to it and buy more’ and ‘not flip it,’ Cramer began referring to the company as a ‘meme stock.’
Indeed, rather than earnestly forecasting an exceedingly rapid rally for the almost $2 trillion firm, the former hedge fund manager repeatedly voiced his skepticism about the sustainability of the upsurge.
What is next for SpaceX stock in 2026?
Notably, the SpaceX IPO was designed in a rather unorthodox fashion as it featured an unusually low float, various forms of soft lockups for retail investors, and a smaller-than-standard share of the float earmarked for institutions.
Overall, the setup all but ensured strong buying activity and relatively little selling in the immediate aftermath of hitting the stock market – and simultaneously pinned a question mark on the valuation despite the initial upsurge.
Looking ahead, similar factors are likely to extend the SPCX stock rise through the summer of 2026, as it is bound for fast-track inclusion in the Nasdaq-100 for an event that will lead to substantial automatic buying activity from index funds.
Overall, price discovery might become possible for SpaceX shares only late in 2026 or early in 2027 once float expands sufficiently, the initial hype dissipates, and more insider equity becomes available for selling.
Featured image via Shutterstock
