Here's what it says to me: If you own the stock of Tesla understand that, like it or not, there's another player that represents an alternative that could cut into sales. It might not. It might never amount to a hill of beans, but it is out there for all to see -- and I backed the stock for ages.
Sure, there is a YouTube clip of me at first dismissing the stock, which was right. It did next to nothing for those first three years. But when it took off I was all in Tesla. Now, 150 points later, down $50 from its high, call me worried, not from the BMW challenge, but by the worship of a stock.
These are pieces of paper, and no more. Never let them get to you to the point of dismissing all that is out there, including a parking lot full of competition observed by an early Tesla backer.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in stocks mentioned.Editor's Note: This article was originally published at 11:37 a.m. EDT on Real Money on June 9. >>Read More:
Merck Buys Idenix for $39 Billion in Yet Another Blockbuster Hep C Deal
Twitter Investors Could Still Feel More Pain
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV