Jim Cramer Weighs In On Tesla's Potential After Stock Gained Over 6% On Monday: 'Not A Fan Of It, But Not Against It'
Portfolio Pulse from Benzinga Neuro
Jim Cramer commented on Tesla Inc. (NASDAQ:TSLA) after its stock rose over 6% following a price increase announcement for the Model Y. Despite the stock's recent poor performance in the S&P 500, Cramer remains neutral. Tesla's stock decline contrasts with the S&P 500's all-time highs in 2024. Goldman Sachs revised Tesla's price projections due to production and sales challenges. Tesla announced a series of price hikes for the Model Y in the U.S. and Europe. Future Fund suggests Tesla could boost its valuation by highlighting its AI projects in earnings reports.
March 19, 2024 | 10:39 am
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Tesla Inc. saw a stock increase over 6% following a price hike announcement for the Model Y, amidst a backdrop of recent poor performance and revised price projections by Goldman Sachs.
The stock's positive reaction to the Model Y price increase indicates short-term investor optimism. However, the backdrop of recent poor performance and Goldman Sachs' revised projections could temper long-term expectations. The suggestion by Future Fund to highlight AI projects could introduce a new factor for valuation, potentially impacting investor sentiment positively in the short term.
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IMPORTANCE 90
RELEVANCE 100