Jim Cramer May Not Love Tesla Stock, But He'll Check on the Model 3
TheStreet's Jim Cramer thinks Tesla (TSLA) - Get Report is a cult stock, but he still plans to visit a showroom to take a look at the new Model 3 which he thinks will 'sell out like mad.' Cramer said Tesla, Uber, and Lyft are all putting pressure on traditional automakers like Ford (F) - Get Report and General Motors (GM) - Get Report . 'This could be the disintermediation of the auto industry as we know it, if Tesla's able to produce all these cars,' said Cramer, who's portfolio manager of the Action Alerts PLUS charitable trust. A viewer asked Cramer about JCPenney (JCP) - Get Report , and he responded that the company is taking share away from Macy's (M) - Get Report , and that it has a good beauty business. Because of that, he recommended that investors buy Estee Lauder (EL) - Get Report . Viewers can send questions to Cramer on his Facebook page or on Twitter, use hashtag CramerQ.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
