Jim Cramer Says Tesla Stock Will 'Keep Running Until All Shorts Are Crushed,' Praises Elon Musk's China FSD Deal As 'Perfect Example Of Redefining Narrative'
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares surged over 15% after CEO Elon Musk secured a deal with the Chinese government for full self-driving (FSD) technology and data transfer. Jim Cramer praised the deal as a significant achievement, comparing it to historical business feats. The deal is expected to open a new revenue stream for Tesla, potentially reversing the recent price momentum downturn due to competition and demand issues in China. Short sellers faced significant losses due to the stock's rally.
April 30, 2024 | 6:23 am
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POSITIVE IMPACT
Tesla's stock rallied over 15% following a deal with China for FSD technology, indicating a potential new revenue stream and a positive shift in the company's recent price momentum.
The significant stock price rally is directly attributed to the announcement of the FSD deal in China, which is expected to open new revenue streams for Tesla and improve its competitive position in a key market. The positive investor sentiment, as reflected by Jim Cramer's comments and the substantial losses incurred by short sellers, further supports the expectation of a short-term positive impact on TSLA's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100