Who's Holding Tesla Stock Up? Jim Cramer Smells A 'Cathie Wood Imitator' Out There: 'Almost Conspiratorial'
Portfolio Pulse from Shanthi Rexaline
Jim Cramer speculated on CNBC's Mad Money that a 'big portfolio manager', possibly a Cathie Wood imitator, is buying Tesla stock to prevent it from falling further, despite its market cap plateauing around $635 billion. He doubts Tesla can reach a trillion-dollar valuation soon, despite potential boosts from new models. Tesla's stock has been trading mostly below $200 since late January, with its next big catalyst being the upcoming deliveries report in early April. Concerns include slowing EV adoption and economic uncertainty.
February 27, 2024 | 8:37 am
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NEUTRAL IMPACT
Jim Cramer speculates a major buyer is supporting Tesla's stock price, but expresses skepticism about reaching a trillion-dollar valuation amid challenges.
The speculation by Jim Cramer about a major buyer, potentially a Cathie Wood imitator, supporting Tesla's stock price could create short-term positive sentiment. However, his skepticism about Tesla reaching a trillion-dollar valuation, combined with concerns about slowing EV adoption and economic uncertainty, suggests a neutral short-term impact. The stock's performance will likely depend on upcoming deliveries and market conditions.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100