Jim Cramer Explains Why SpaceX (SPCX) Is His New Fantasy Flex Player

Jim Cramer highlighted SpaceX (SPCX) as his new fantasy stock for the flex position on September 8's episode of Mad Money. The flex position in fantasy football is a versatile spot that can hold a player who generates multiple points, just like Cramer wants SpaceX to provide growth from various angles. The rocket launch company's growth stems from its Starlink satellite internet business and AI ventures, making it a multi-faceted investment similar to Atlanta Falcons running back Bijan Robinson.

Both SpaceX and Robinson are expensive investments, given their current losses and high valuation multiples. However, their potential for substantial returns makes them exciting choices for investors. SpaceX's second-quarter revenue surged to $7.8 billion, up 90% year-over-year, and its GAAP EPS of -$0.09 beat Wall Street estimates.

The company's market capitalization is near $2 trillion, reflecting massive growth expectations. Despite its heavy capital spending and high valuation, SpaceX remains a high-risk, high-reward investment.