SpaceX Stock Hits New Low at $107.01; Jim Cramer Warns to Wait for August 6 Unlocking

According to Jim Cramer, SpaceX (SPCX) stock hit a new low of $107.01 on Tuesday before recovering to $116.41, down 29% over the past month and trading below its $135 IPO price. Cramer advised viewers to hold off buying for now, citing a major catalyst: approximately 911.5 million shares become eligible for sale on August 6, which could drive the price lower by more than doubling the public float.

"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. The company is set to report its first earnings as a public company on August 4, but Cramer cautioned that even strong results may not offset the impact of the upcoming lockup expiration.