Jim Cramer makes interesting claim about Tesla's recent stock surge
12/17/2024 03:18 PM
Jim Cramer made an interesting claim on an episode of his CNBC show Mad Money by stating that “everyone should have seen [Tesla’s stock surge] coming.”
He also said that the recent rally is “one for the ages,” especially because it accounts for so much of Tesla’s gains on Wall Street this year.
Cramer aligned the stock surge with the election and America’s decision to put Donald Trump back in the White House in January. Tesla CEO Elon Musk was a big part of that decision, campaigning with the President-elect throughout October and November and also taking millions from his own pocket to help seal the deal.
The move by Musk was called a “bet for the ages” by Wedbush’s Dan Ives in a note earlier this week. Cramer shared that narrative, at least in a sense.
Tesla continues to soar after bull pushes price target up again, adding a new bull case
Cramer shared his opinion during the segment on Tesla that the company is now looking more robust from an investor’s perspective than ever, especially considering the company now has some firepower with Trump potentially leading the way with eased regulatory hurdles.
These potentially laid-back terms that Trump could roll out with both artificial intelligence and autonomous driving would be things Tesla would appreciate. They are both focuses of the company, especially playing into the hand of Full Self-Driving.
Jim Cramer: Tesla’s rally since the election is one for the ages.
“It’s a move in retrospect everyone should have seen coming. It was easily missed by the numbers guys on Wall Street. The public doesn’t listen to Wall Street research. The public knew one key thing that the… pic.twitter.com/4Cqd55g7gB
— Sawyer Merritt (@SawyerMerritt) December 17, 2024
Tesla shares are up 90 percent since the election and 92.65 percent this year, reaching all-time highs on several occasions over the past two weeks.
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