This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cramer Won't Wait For Tesla

NEW YORK (TheStreet --

Debra Borchardt:

It seems everyday we're getting good news about Tesla (TSLA). Whether it's the earnings or Consumer Reports giving it almost a perfect score. Well, let's talk about Tesla. I'm with Jim Cramer. So Jim, you know, they came out with their quarterly earnings, definitely surprised the market.

Jim Cramer:

Right.

Debra Borchardt:

They delivered five thousand model S cars. The market was not expecting them to come in with profits and yet they did. The stock is becoming a trader favorite.

Jim Cramer:

Right. I mean a huge percentage of the stock is short. There are people who send me bulletins constantly about why I should tell people to sell Tesla and why I should tell them to short it. I don't communicate those because this is a cult stock and I don't want to mess with cult stocks. It was a very good conference call. They did make money. I am sure there are people who said they didn't make money.

They are going to build twenty one thousand cars. I'm sure there are people saying they can't build twenty one thousand cars but the bulls are winning the argument right now. One of the things I thought was interesting is the statistic, twenty five percent of people who test drive one buy one. I thought that was interesting and then Julia Boorstin, who's my colleague at CNBC, she and I were tweeting back and forth @JimCramer today and she says "Listen, in LA they're the predominate car among the glitz." and so you have a cult car and you have a cult stock and these are things that work to absurd heights. Because it has eight billion dollar market cap, Carl Quintinilla kept pointing out to me and I don't think it's worth eight billion but it doesn't really matter doesn't matter what I think.

Debra Borchardt:

You know, what's interesting too is there is clearly he (Tesla CEO Elon Musk) has so much faith in his product that he has offered the owners, that if they buy this car and finance it through Tesla, that in three years if they want to sell it back he'll give them fifty percent of their car value. That's just really unheard of and that really speaks volumes about how much he believes in his product.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs