CNBC's Jim Cramer on Tuesday urged investors to be patient with SpaceX, even with the stock already well off its post-IPO highs. "If you're looking to buy SpaceX ... I'm begging you if you want to go big to at least wait for the first wave of the lockup on insider selling to expire next Thursday and let it drag the share price lower before you pull the trigger," the "Mad Money" host said.Shares of Elon Musk's rocket-and-AI company have fallen more than 40% from their closing high on June 16, just days after its initial public offering. While Cramer said he remains bullish on Musk and the SpaceX's long-term prospects, he cautioned that its earnings report set for Aug. 4 and the Aug. 6 lockup expiration could pressure the stock further. A lockup expiration allows early investors and insiders, who were previously restricted from selling, to begin trading their shares. Cramer noted that roughly 911.5 million shares will become eligible for sale next Thursday, more than doubling SpaceX's public float. SpaceX insiders are able to sell shares earlier than in most other IPOs."Generally speaking, more supply results in lower prices," Cramer said.A big focus in SpaceX's results next week will be the performance of its rapidly growing artificial intelligence business, Cramer said. He noted that much of Wall Street's near-term bullishness depends on SpaceX's ability to continue monetizing its excess computing capacity after signing multibillion-dollar rental agreements with Anthropic and Alphabet. However, Cramer said those contracts deserve closer scrutiny. "Those two deals can be cancelled by either party with 90-days notice," he said. "From my perspective, that makes this new revenue stream very tough to model, because nobody's really locked in." Analysts are also largely assuming SpaceX will sign additional agreements like those over the next several years, but Cramer warned that there "aren't many other companies with such deep pockets." Cramer said these two factors make it difficult to know how much to trust Wall Street's earnings projections for the coming years. Beyond AI, Cramer said he'll also be watching for updates on the company's next-generation Starship rocket and continued subscriber growth at Starlink, which he called one of SpaceX's strongest businesses. Still, despite his long-term optimism, Cramer said investors should resist the temptation to rush into the stock. "Even if they report a great quarter on Tuesday, I don't know if it can withstand the lockup expiration on Thursday," he said.