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Cramer Won't Wait For Tesla

Jim Cramer:

Well it's also allowed him to take an, there's kind of an aggressive accounting stance you can take if you think the car's going to be worth certain amount later. I mean there's everything in the conference call but I urge people that are trading the stock to recognize that you're really trading a short squeeze and we don't know. Short squeezes are wild animals. So I mean at one point today people were using the Goldman report to get out of the stock. This is a stock that is not really a stock. Okay this is a poll. A referendum on a man and a car. I like companies like Ford (F - Get Report), that are real and General Motors (GM - Get Report) that are real. But I respect a short squeeze for what it can do and I also respect the man for what he's done.

Debra Borchardt:

I totally respect Elon Musk for, you know, one that he's done what a lot of people did not think could be done and there are a lot of failures in this area.

Jim Cramer:

Right.

Debra Borchardt:

Many of the roads to electric cars and the independent car world are littered with failures.

Jim Cramer:

Right.

Debra Borchardt:

So he has done something really special here.

Jim Cramer:

Yes and I've went to look at one of the Teslas and I liked it immensely but they told me that there was a nine month wait so I said no.

Debra Borchardt:

You didn't put your name on the waiting list?

Jim Cramer:

No. I think that nine months is an awful long time to wait for a car.

Debra Borchardt:

All right, but listen. Let me ask you this. If there weren't a nine month waiting list, if they said Mr. Cramer here's the keys and you can drive out now. Would you've had bought it?

Jim Cramer: Yes. Probably.

Debra Borchardt:

And there you go. So Tesla stock look at it. Be cautious about it because if you're looking at it, it really it might just be your just trading the short and not necessarily a pure play on the stock and that's Jim Cramer who could potentially be a future Tesla owner if there's no wait.

--Written by Debra Borchardt in New York.



>To contact the writer of this article, click here: Debra Borchardt.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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