Cramer Flags New Trade: Sell Some Tesla, Wait for SpaceX IPO?

CNBC's Jim Cramer suggested Tesla (TSLA.OQ) holders trim positions ahead of a potential SpaceX IPO, citing JPMorgan's recent downgrade of Tesla to Sell that forecasts roughly a 60% drop. JPMorgan argues Tesla’s fundamentals and near- to mid-term forecasts have weakened while the stock has rallied over 50% and analyst price targets are up more than 30%, implying current prices price in a long-dated, high-risk recovery. Cramer frames this as a rotation trade—selling some Tesla exposure to hold cash for an anticipated SpaceX offering—potentially creating downward pressure on TSLA and shifting Elon Musk–focused capital toward the hyped IPO. The note is primarily an institutional outlook with market-commentary implications for investor positioning and capital flows.