Jim Cramer Says SpaceX Is a ‘Meme Stock.’ He Couldn’t Be More Wrong.

1 hour ago 2

Rich Duprey

Tue, June 16, 2026 astatine 11:31 AM CDT 4 min read

Quick Read

SpaceX gained astir $900 cardinal successful marketplace headdress wrong days of its IPO, backed by 6 existent concern segments spanning launch, Starlink, and AI.
SpaceX President Gwynne Shotwell prioritizes semipermanent returns implicit quarterly results, evidenced by the company's $60 cardinal Cursor acquisition days aft its IPO.
Unlike GameStop's Reddit-driven surge, SpaceX deploys superior aggressively to physique durable competitory advantages alternatively than relying connected societal media attention.
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Markets and commentators person a wont of confusing popularity with speculation. When a banal rises rapidly, skeptics excessively often scope for the aforesaid label: meme stock. That statement acceptable companies similar GameStop (NASDAQ:GME) and AMC Entertainment (NYSE:AMC) during the pandemic-era trading frenzy, wherever societal media enthusiasm often outpaced concern fundamentals. But not each banal that captures investors' imaginativeness belongs successful that category.

That's particularly existent for SpaceX (NASDAQ: SPCX), whose shares person surged since its record-setting IPO. CNBC's Jim Cramer conscionable argued that SpaceX has go a "meme stock," an appraisal that is wildly incorrect due to the fact that it overlooks what the institution really is -- and what it's building.

What Makes a Meme Stock a Meme Stock?

A meme banal is typically characterized by 3 traits:

Social media-driven buying
Limited transportation betwixt valuation and concern show
Price movements fueled by momentum alternatively than fundamentals

GameStop became the poster kid for the improvement successful 2021 arsenic traders connected Reddit's WallStreetBets coordinated buying enactment that pushed shares acold beyond what the company's net could justify.

SpaceX surely has excitement surrounding it. Its banal climbed from an IPO valuation of $1.8 trillion to implicit $2.7 trillion wrong days of trading. It roseate much than 19% connected each of its archetypal 2 days arsenic a nationalist company, and is implicit 10% higher successful noon trading today.

But enthusiasm unsocial doesn't make a meme stock. The captious quality is that SpaceX isn't a single-product institution with a struggling concern model. It operates crossed aggregate industries that are expanding rapidly.

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