Skip to main content

Jim Cramer: Don't Buy Tesla Stock Just Because You Love Elon Musk

Publish date:
Video Duration:

Jim Cramer is setting the record straight ... 

In response to Wedbush's note on Tesla (TSLA) - Get Tesla Inc. Report , Cramer explains how he feels about Elon Musk and Tesla's stock.

"He is a genius and I just think, I wish I could say that he is a genius, I know that, but that doesn't necessarily translate into buying the stock right here," Cramer said.

"It's so much easier to say, look, ignore everything and just buy the stock. I don't want to hurt people, but what people want to hear from me who are bullish is it's all nonsense," he added.

Tesla shares plunged below $200 for the first time in more than two years on concerns the carmaker faces a "Kilimanjaro-like uphill climb" to hit profitability goals in the second half of the year, according to a Wedbush report.

Related. Tesla: The Bell Tolls for Thee

Watch Jim Cramer's Daily NYSE Show and Replays Below

Related Videos