Why Jim Cramer Isn't Investing in Space Yet: Video
SpaceX and NASA has their first successful launch on Saturday, May 30.
The crew, flying in SpaceX's Crew Dragon, docked on the International Space Station on Sunday, May 31, around 18 hours after taking off.
The astronauts on board were Douglas Hurley and Robert Behnken.
It was the first time in nine years that astronauts have lifted off from American soil on an American-made rocket.
This is because, ever since the Space Shuttle retired, the U.S. has been paying Russia around $80 million per seat to fly its astronauts to the International Space Station.
“We as a nation have not had our own access to the International Space Station for nine years,” NASA Administrator Jim Bridenstine said earlier this month in a news briefing. “This is a very exciting time.”
SpaceX developed the Crew Dragon capsule with more than $3 billion of funding from NASA under the agency’s Commercial Crew Program.
“Today a new era in human spaceflight begins as we once again launched American astronauts on American rockets from American soil on their way to the International Space Station, our national lab orbiting Earth,” said Bridenstine following the launch. “I thank and congratulate Bob Behnken, Doug Hurley, and the SpaceX and NASA teams for this significant achievement for the United States. The launch of this commercial space system designed for humans is a phenomenal demonstration of American excellence and is an important step on our path to expand human exploration to the Moon and Mars.”
Despite the success, Jim Cramer isn't buying in just yet. In the video above, he breaks down why he's staying away from the sector for now.