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