Jim Cramer Takes a Positive Stance on Tesla, Citing Robotaxi Performance and NVIDIA CEO’s Endorsement
AI-summarised brief · reviewed before publication
When it comes to Tesla analysts, many of them tend to maintain a consistent stance, with bulls like Dan Ives and Adam Jonas and bears like Gordon Johnson. However, Jim Cramer, host of CNBC's Mad Money, has been known to switch his opinion on Tesla stock (NASDAQ: TSLA) multiple times. In the past, Cramer has been bullish, calling Tesla a "sleeping giant" two years ago, and bearish, stating that there was "nothing magnificent" about the company just a few months ago. Now, he has shifted back to being a bull. Cramer's recent comments were centered around two key points: NVIDIA CEO Jensen Huang's positive remarks about Tesla and the successful launch of the Robotaxi fleet. According to Cramer, the narrative surrounding quarterly and annual deliveries is overblown, and those who continue to worry about Tesla's performance on that metric are misled. "It's not a car company," Cramer stated, pointing out that Huang, who has worked closely with Tesla, speaks highly of the company. He believes that Musk's words should be taken seriously, given his collaboration with Huang. "I believe what Musk says cause Musk is working with Jensen and Jensen's telling me what's happening on the other side is pretty amazing," Cramer said. Regarding the Robotaxi launch in Austin, Texas, Cramer countered the negative media coverage, pointing out that the early rollout has encountered only minor issues, nothing significant. He also noted that humans make mistakes while driving, so it's only natural for autonomous vehicles to have some errors as well. Overall, Cramer's latest assessment of Tesla suggests that the company is headed in the right direction, particularly with its Robotaxi performance and the positive endorsement from NVIDIA CEO Jensen Huang.