CNBC’s Jim Cramer remains optimistic about SpaceX’s (NASDAQ:SPCX) long-term prospects but urged investors to wait before taking a large position, warning that an Aug. 6 insider-share release could add selling pressure after the company’s first earnings report.
Cramer Warns Lockup Could Pressure SpaceX Shares "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," Cramer said on Tuesday.
SpaceX will report results Aug. 4.
Two trading days later, employees and some investors can sell up to 911.5 million shares, more than doubling the tradable supply.
Reuters reported that further releases could expand the float to 40% by Dec. 8, while Elon Musk’s stake remains restricted until mid-2027.
