CNBC Mad Money host Jim Cramer is now fully bullish Tesla. Jim was turned by his wife in 2019 when she told him to get a Tesla car for the family, and suggested he should also buy the stock.
This comes 10 days after Jim praises Elon Musk. ‘I love sitting’ in my Tesla Cramer praises Elon Musk for making cars an exciting place to be. “Your car becomes an exciting, an exciting place to be,” the “Mad Money” host said. “I give up. The car is too damn great,” Cramer said then.
The “Mad Money” host affirmed his bullish stance last year, saying “I’m a believer” in Tesla after it built its Gigafactory 3 factory in Shanghai in just 10 months and began delivering cars to Chinese consumers.
Yesterday on Mad Money, Jim Cramer calls Tesla a Tech Company and says the stock is about to break higher in 2020. “2020 is its breakout year”
According to Jim, it makes better sense to compare Tesla with tech companies such as Advanced Micro Devices and Nvidia than to compare Tesla to the likes of General Motors, Fords, Toyota, among others.
“Tesla’s not really a car company, it’s a tech company on wheels. That’s what keeps confusing people,” Jim Cramer
“I think there’s a widespread recognition that 2020 is Tesla’s breakout year, and their breakout is coming from China thanks to the new factory they built over there in record time,” the “Mad Money” host said.
“Almost every major automaker now has an electric car, yet almost none of these cars have any demand to speak of at all, except for Tesla.” Jim
“I think there’s a widespread recognition that 2020 is Tesla’s breakout year, and their breakout is coming from China, thanks to the new factory they built over there in record time,” the host said. “Oh, and the company’s building another plant in Germany next year to meet the European demand, so there’s a roadmap for even bigger numbers in the outyears.”
Another thing to also point out in support of Jim is that Tesla is based in Silicon Valley, a technology center, thousands of miles west of Detroit, the automotive center of the world.
According to Wikipedia: Tesla, Inc., is an American automotive and energy company based in Palo Alto, California. The company specializes in electric car manufacturing and, through its SolarCity subsidiary, solar panel manufacturing