CNBC Reporter Notes SpaceX Stock Dip After Announcing Elon Musk is a No-Show For Interview

Elon Musk was a no-show for a much-hyped exclusive CNBC interview Friday, as tech reporter Julia Boorstin noted that SpaceX stock had dipped 3%.

“We’ve been promoting this exclusive interview that Elon Musk was expected to give to our Julia Boorstin, which is now apparently no longer happening,” announced Fast Money Halftime Report host Scott Wapner about 11 minutes after Musk was due to appear.

“Julia, do you want to explain to us exactly what happened here, as this was imminent?” Wapner asked.

“Yeah, we were expecting to start an interview with Elon Musk right now at noon Eastern,” Boorstin said. “We just got word that he has to postpone. Obviously, it would have been great to talk to him in his first TV interview since SpaceX went public. There is so much to talk about. I mean, look at today. SpaceX shares are trading below where the stock traded for its first trade. It’s well off its highs since that IPO just a couple of weeks ago.”

“But if we look at SpaceX shares, now trading down nearly 3% today at $148. So, Scott, we hope he will give us a new time for this interview. But we’ve just heard that he is postponing,” Boorstin added.

“Okay, it’s an unfortunate development for sure, but you’ll let us know what happens from here, Julia,” Wapner said before adding , “I think investors are having a hard time figuring out how to value this company. A literal out-of-this-world, TAM (Total Addressable Market), that they’ve talked about. Revenue projections that are astronomical, and how they can, in fact, reach those those targets.”

Wapner asked Kevin Simpson, founder and chief investment officer of Capital Wealth Planning, “How did you get past that to decide you wanted to own this?”

“Well, we’re down a little bit on it, as most investors are at this point, sub 150,” Simpson said, continuing:

We have a small position in it. You can make the argument for the bull case that they have the dominance, the monopoly with respect to the Falcon. Obviously we know what they can do with Starlink. Again, almost monopolistic. And then the Elon Musk factor, which we put a massive premium, for better or for worse. Sometimes he doesn’t show up for an interview. Would have been awesome, because what I was most interested in hearing about was just his thoughts on whether or not Tesla, which we also own in the growth portfolio, and SpaceX might be thinking about merging together.

Watch the clip above via CNBC.

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