Jim Cramer Calls The Bottom In Tesla Stock: Why He Says 'Right Now' Is The Time To Buy
Portfolio Pulse from Adam Eckert
Jim Cramer has declared that Tesla Inc (NASDAQ:TSLA) stock has reached its bottom, with a more than 30% decline for the year. He believes the EV market's dismissal is premature and anticipates all will be driving EVs by 2030. Despite recent price cuts impacting margins, Tesla's price increases for Model Y in the U.S. and Europe, along with rising used Tesla car values, could push the stock higher. Cramer's confidence in Tesla's potential recovery was expressed on CNBC's 'Squawk On The Street' and 'Mad Money.'
March 19, 2024 | 7:01 pm
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POSITIVE IMPACT
Jim Cramer has identified Tesla Inc as having reached its stock price bottom, suggesting a potential recovery driven by the EV market's growth and Tesla's pricing strategy adjustments.
Cramer's analysis and public endorsement could influence investor sentiment positively, especially given his influence among retail investors. The strategic price adjustments and the anticipated growth in the EV market, as highlighted by Cramer, could lead to a short-term positive impact on Tesla's stock price. However, the actual impact would depend on broader market trends and Tesla's operational performance.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100