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Jim Cramer on Tesla, GameStop and Facing Earnings Gauntlet

Special guest Rob Maurer of Tesla Daily joins Jim Cramer and Katherine Ross to discuss Tesla's earnings report and facing the earnings gauntlet.

Jim Cramer and Katherine Ross will be discussing Cramer's thoughts on the market as Wall Street grapples with earnings, his latest thoughts on GameStop  (GME) - Get GameStop Corporation Report and they'll be joined by a special guest--Rob Maurer of Tesla Daily--to discuss Tesla's  (TSLA) - Get Tesla Inc. Report earnings report in the video below: 

Here's what Cramer's watching currently: 

What's Going on With GameStop?

GameStop raised $551 million in stock sales. The company sold 3.5 million additional shares. 

Raising this cash will help the company with its e-commerce transformation. So far, Ryan Cohen--co-founder of Chewy and board member of GameStop--has pushed the company to rapidly shift its focus onto e-commerce and has brought on a number of executives who come from places such as Chewy and Amazon to help GameStop do so. 

This, of course, feeds the various theses of the WallStreetBets crowd. Many on Reddit have felt that GameStop is a long-term play based on their belief in Cohen. 

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And Then There's Tesla

Tesla posted stronger-than-expected first-quarter earnings Monday thanks in part to surging deliveries in China, notching its seventh-consecutive quarterly profit and forecasting late 2021 launches for planned gigafactories in the U.S. and Germany.

"In Q1, we achieved our highest ever vehicle production and deliveries," Tesla said. "This was in spite of multiple challenges, including seasonality, supply chain instability and the transition to the new Model S and Model X. Our GAAP net income reached $438M, and our non-GAAP net income surpassed $1 billion for the first time in our history."

Now Tesla CEO Elon Musk and CFO Zach Kirkhorn disclosed that--while Tesla had made a $1.5 billion investment in Bitcoin earlier this year--that the company had raised around $101 million from selling Bitcoin in order to prove liquidity of the cryptocurrency. 

This led to many Bitcoin believers speaking out against Tesla, and even Barstool Sports founder Dave Portnoy took to Twitter to ask if he had understood the situation correctly. Portnoy asked Twitter whether or not Musk had pumped Bitcoin and then sold it to make a fortune. 

However, Elon Musk pushed back. Musk noted that he personally had not sold any of his Bitcoin, but that Tesla the company had sold 10% of its holdings. 

Disclosure: Rob Maurer is long TSLA stock and derivatives.