NEW YORK (TheStreet) -- TheStreet's Jim Cramer says he might be getting off the Tesla (TSLA) horse. Anton Wahlman, who introduced him to the concept of why Tesla was so great, said BMW could eventually put pressure on the electric car maker.
Cramer says the whole story about Tesla is that there is not going to be pressure from anywhere. The idea that a competitor could emerge made him think perhaps the Tesla trade was not for him; however, he is not saying it is over yet.
Cramer says he is tired of getting behind stocks, having a huge move and then not saying that is enough for him. He liked Tesla at $50 and at $200, and the latter might be enough for him. He does not want to be involved with the cult stocks because too much money was lost from March to May.
Finally, Cramer says he loves Tesla's cars and thinks it's terrific if investors want to be in the stock, but do not ask him to endorse the trade.
TheStreet Ratings team preaches caution, as it 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."