Jim Cramer Says Eli Lilly Could Replace Tesla In 'Magnificent Seven' List: 'To Ignore...Is To Reject The Facts'
Portfolio Pulse from Benzinga Neuro
Jim Cramer, host of CNBC's 'Mad Money,' suggested that Tesla Inc (TSLA) could be replaced by Eli Lilly and Co (LLY) in the 'Magnificent Seven' list of mega-cap stocks due to Tesla's recent underperformance and Eli Lilly's strong market position. Tesla's stock has fallen by 16% in 2024, while Eli Lilly has surged to record highs and could potentially become the first drug maker to reach a $1 trillion valuation.
January 23, 2024 | 3:02 am
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NEGATIVE IMPACT
Tesla's stock has declined by 16% in 2024, and Jim Cramer suggests it may be replaced by Eli Lilly in the 'Magnificent Seven' due to growth concerns and market saturation.
Tesla's stock decline and the suggestion by a high-profile analyst like Jim Cramer could lead to negative sentiment among investors, potentially impacting the stock price in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Eli Lilly is considered by Jim Cramer as a strong contender to replace Tesla in the 'Magnificent Seven' list, with a market cap nearing $600 billion and potential to reach a $1 trillion valuation.
Positive endorsement from Jim Cramer and the potential for Eli Lilly to become a trillion-dollar company could drive investor interest and positively impact the stock price in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80