NEW YORK (TheStreet) -- TheStreet's Jim Cramer says Tesla (TSLA) is on the move, and a piece on TheStreet by Anton Wahlman says the electric automaker's secret could be that none of the major automotive companies really care about Tesla and the 35,000 electric cars it may make, therefore it is an open field for Tesla.
Cramer notes the article states one of the major automakers could eventually crush Tesla if they wanted to, but it is not important to them to do so. He says Tesla and Amazon (AMZN) are cold stocks that cannot be valued, but people love them. He prefers Rite Aid (RAD) because he can make a number for it and predict that it could go to $10.
But if investors want Tesla and Amazon, then the news headlines off which these stocks trade are positive, and Cramer understands why they would move higher.
TheStreet Ratings team rates Tesla as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins." STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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