Jim Cramer to Elon Musk: 'No Lawyer in the World Would Say You Should Do This'

Jim Cramer says that Tesla's a cult stock following Elon Musk's comments on 60 Minutes.
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Elon Musk, CEO of Tesla (TSLA) - Get Report , told 60 Minutesthat he doesn't have any respect for the Securities and Exchange Commission

TheStreet's Martin Baccardax also reported that Musk said it was "not realistic" to think new chairwoman Robyn Denholm, who replaced Musk in October as part of a multi-million settlement with the U.S. Securities and Exchange Commission, could hold him to account as group CEO. He also said his Twitter account, the catalyst for both the stock's recent volatility and the ultimate SEC settlement, was not being monitored by company executives.

"It's not realistic in the sense that I am the largest shareholder in the company," Musk said when asked if his role in the company he founded would be subject to oversight from Denholm. "I can just call for a shareholder vote and get anything done that I want."

Musk also noted that his Tweets are only reviewed by the company if there is a "probability of causing a movement in the stock," adding ""I want to be clear. I do not respect the SEC."

Cramer said that the comments that Musk made about the SEC is an "above the law reference."