CNBC Investing Club: Cramer’s Morning Take on SpaceX 6/11/26

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Jim Cramer (1:02)

Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 10 20 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

There are two markets here. There's one about how much SpaceX our institutions and individuals are going to get and whether it's too much or too little. And then there's markets that's dependent on the PPI being looking like the headline, not that good, but I believe underneath, not bad at all. And the Trump endless truth social, what I'm going to do with Iran, erratic posts along with erratic posts from Iran, I don't know which market is real, maybe both are.

SPEAKER_2 (1:53)

Well, it's really interesting. So yesterday, the president said he planned on the US is going to attack Iran.

And then this morning, he said he's, quote, very hard, they're going to hit Iran tonight and wants to take Cork Island and other infrastructure points, kind of like what he did in Venezuela. Interestingly though, oil actually down slightly, not a little surprising there. You mentioned SpaceX starting to see some analyst coverage, New Street Research, 165 price target, Oppenheimer, $190 price target. So that's a big event on our radars tomorrow, raising cash just in case something goes awry and it takes the market down.

Jim Cramer (2:34)

Right. I mean, it's more of a security blanket than it is a prediction.

I feel like a combination of Musk and the top people at Morgan Stanley and Goldman will make it so the deal is tight as a drum. What would tight as a drum mean? It would mean that there is more than enough stock for people who come in over the transom and not enough stock for the people who are getting on the deal. So what happens is then they come in and buy more stock in the opening and it sops up a lot of what I regard as flipper stock. There are people who own it, big institutions even, that may be able to sell it, though most of them are locked up. But make no mistake about it. How that deal does is going to determine the action, not just for the next 24 hours, but for the May of the next month.

SPEAKER_2 (3:13)

In other AI headlines, I found this one interesting from the Wall Street Journal that OpenAI is considering cutting the price for tokens to try and take market share from Anthropic. Begs the question, is intelligence getting commoditized?

We've heard companies pushing back on their token spend after quickly hitting their budget. Uber was one of them.

Jim Cramer (3:35)

Yeah, I mean, I heard this, and I'm suspicious of both of these companies and skeptical of them. They make a lot of claims. They suggest a lot of things. The market, token costs and token prices is what the market will bear. There are other people involved in this business. It's not just Anthropic. Those two are locked in some sort of mortal battle.

But you see a lot of companies. I mean, look, this morning we had people from KKR who were building. We mentioned the people from Blackstone who were building. We had a lot of people from Oracle who were building. There's a lot of building going on. And those are going to determine the price of the tokens, not just the two that are currently in play.

SPEAKER_5 (4:15)

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