Yes, the impossible has happened. Elon Musk’s favorite simulation is taking up the bull case on Tesla.
While Jim Cramer will always tell you to stay away from battleground stocks, he is seeing Tesla in a new light… and yes, it has something to do with the Cybertruck.
“The cars are better than I thought they would be at this point,” Cramer told ActionAlertsPLUS.com research analyst Zev Fima, adding, “I thought when you through a rock through the window of a Cybertruck, something bad had to have happened.”
Cramer added that previously the balance sheet has been his biggest concern about Tesla, but that could be changing as well, with plenty willing to invest in the stock. “If you’re going to stay negative on it [Tesla], you have to believe there’s no money available, and that’s not what I’m understanding,” Cramer said.
Possibly the biggest factor in his changed mindset on Tesla is renewed confidence in CEO Elon Musk, Cramer added. Talks of removing Musk from the C-Suite have all but disappeared.
“The facts changed and I changed my mind, too,” Cramer concluded.
Catch Cramer’s full take on Tesla and why he thinks Netflix is telling the opposite story in his latest column on Real Money.
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