Buy Tesla Stock Before Earnings Says Jim Cramer
Tesla is expected to report a non-GAAP loss of 25 cents per share on revenue of $6.16 billion, according to analysts polled by FactSet.
The stock recently caught Wall Street’s attention after it managed to gain 25% in a first quarter that sent markets reeling. Tesla also managed to deliver a better-than-expected 88,400 cars in the quarter, despite demand and production disruption from the coronavirus pandemic.
During the earnings call, investors will want to hear more detail on where Tesla is on achieving its full year delivery target of 500,000 vehicles, which Wedbush analyst Dan Ives has called a “virtual impossibility.”
While we’re waiting for more details from Tesla, TheStreet founder and ActionAlertsPLUS portfolio manager recently named the stock among the 10 he thinks millennials should own on Real Money.
“I would put that higher. If you are younger, you should bet on the only car company that's got a level of popularity that doesn't need any advertising. I always say it is a tech company on wheels,” Cramer wrote.
Where does Cramer see Tesla heading from here? Check out his full take on the stock in the video above.