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Jim Cramer Wishes Tesla Stock Would Slow Down

Jim Cramer wishes Tesla's run to $2,000 would slow down, but he will be the first to say, "you don't give speeding tickets to stocks."

Another day, another reason to talk about Tesla?

The stock continues to defy gravity Wednesday, after a strong close Tuesday saw Tesla rally to $1,891.86, making Tesla CEO Elon Musk the fourth richest man in the world, though still trailing Jeff Bezos, Bill Gates and Mark Zuckerberg. Musk’s ownership of Tesla stock saw a roughly $7.8 billion increase to Musk’s net worth, now at $84.8 billion.

Tesla stock has increased more than 340% year-over-year. In addition to strong investor sentiment around Tesla’s planned 5-for-1 stock split, the company has received a series of analyst upgrades that have helped to bolster the stock higher.

Most recently, Wedbush Securities analyst Daniel Ives raised his one-year price target on the electric car and battery maker, citing what he sees as ongoing demand for Tesla cars in China. Ives noted that the Model 3 remains Tesla’s “linchpin of success.”

Outlining the bull case for Tesla to Northwestern graduate students, Tesla Daily’s Rob Maurer also noted the importance of the Model 3 and said the reason to be bullish is very simple. “Transportation in general is going to electric vehicles and autonomous,” Maurer said.

Though Jim Cramer hasn’t always been a fan, he hasn’t been quiet about his enthusiasm for the stock in past few years. 

However, he does wish the stock's recent run would slow down a little bit, though he will be the first to say, "you can't give stocks speeding tickets." 

Agree with Cramer's take on Tesla? Tell us in the comments below.