Tesla investors may have been taken aback by the latest assessment of the company by analyst Jim Cramer. Known for his dynamic opinions on Tesla stock (NASDAQ: TSLA), Cramer has been known to switch between being bullish and bearish on the company multiple times.
In his recent comments, Cramer highlighted two key points that influenced his bullish stance on Tesla. Firstly, he referenced how NVIDIA CEO Jensen Huang described Tesla after working closely with the company through their transactions. Cramer emphasized that Tesla is not just a car company, and the opinions of industry insiders like Huang should alleviate any doubts about the company’s potential.
Cramer dismissed concerns about Tesla’s quarterly and annual deliveries, stating that focusing solely on these metrics is misguided. He quoted, “It’s not a car company,” indicating that Tesla’s vision and impact go beyond traditional automobile manufacturing. Cramer’s trust in Tesla’s direction is reinforced by positive feedback from industry leaders like Huang.
Another factor that contributed to Cramer’s bullish outlook on Tesla is the recent launch of the Robotaxi fleet. Despite some negative media coverage of the early rollout in Austin, Texas, Cramer defended Tesla’s efforts. He pointed out that human drivers also make mistakes, and Tesla should not be held to a higher standard. The safety measures implemented by Tesla, such as safety monitors in the passenger seat and limited travel areas, demonstrate the company’s commitment to ensuring a smooth transition to autonomous driving.
Cramer’s rational perspective on the Robotaxi fleet aligns with Tesla’s gradual approach to improving the technology. CEO Elon Musk has hinted at reducing the need for safety monitors and teleoperators in the near future, showing Tesla’s dedication to advancing autonomous driving capabilities.
Overall, Cramer’s positive outlook on Tesla reflects the company’s innovative approach to technology and transportation. By considering insights from industry experts like Jensen Huang and acknowledging Tesla’s progress in autonomous driving, Cramer’s endorsement of Tesla’s potential growth is a testament to the company’s long-term vision and strategy.