NEW YORK (TheStreet) -- TheStreet's Jim Cramer has preached caution on Tesla Motors (TSLA) - Get Report for quite some time, calling it a "cult stock" -- one of those stocks that always seems to have buyers no matter how badly the stock performs.
So on Monday when Tesla jumped on a tweet from CEO Elon Musk about a new product coming April 30, Cramer wasn't surprised. During CNBC's "Stop Trading" segment Tuesday, Cramer pointed out the the tweet came the same day the stock price was near support at $180 per share. Shares are currently trading around $193.
"Be careful on either side" of being long or short Tesla, said Cramer, the co-manager of the Action Alerts PLUS portfolio.
Cramer called Musk's tweet "promotional and therefore unusual," adding that most other CEOs wouldn't be able to get away with such antics.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.