On Wednesday, Jim Cramer urged investors to look beyond Space Exploration Technologies Corp.’s (NASDAQ:SPCX) post-earnings sell-off, arguing that Elon Musk's aerospace company should be viewed as a multigenerational investment.
Cramer Says SpaceX Is a Long-Term Bet On the Future During Wednesday's episode of CNBC's Mad Money, Cramer said investors should think about where SpaceX could be in decades, rather than focusing on short-term earnings or the stock's recent decline.
Cramer compared the company to century-long railroad bonds that ultimately rewarded patient investors.
"Back in the day, people bought 100-year railroad bonds that paid off.
SpaceX could be a 100-year piece of paper too." He also pointed to the company's long-term ambitions, asking viewers to imagine a future where lunar exploration and orbital infrastructure become commonplace.
