Jim Cramer Slams Tesla, Google-Parent Alphabet Sellers, Says Anyone Who Listened To Conference Calls 'Knows These Companies Are Doing Extremely Well'
Portfolio Pulse from Shanthi Rexaline
Jim Cramer criticized the sell-off in Tesla and Alphabet shares, emphasizing that both companies are performing well based on their recent conference calls. Tesla is advancing its self-driving technology and Alphabet is increasing its capital spending to stay competitive in AI. Cramer believes the sell-off is driven by market sentiment and a shift from mega-caps to small-caps.
July 24, 2024 | 1:15 pm
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NEUTRAL IMPACT
The iShares Russell 2000 ETF, which tracks small-cap stocks, fell 0.50% in premarket trading. Jim Cramer advised against moving money from mega-caps to small-caps, calling the latter 'lousy.'
The slight decline in IWM reflects broader market trends and Cramer's negative view on small-caps. However, the impact is less pronounced compared to Tesla and Alphabet.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Alphabet shares fell over 4% in premarket trading. Jim Cramer criticized the sell-off, highlighting Alphabet's plans to increase capital spending to maintain its lead in AI.
Alphabet's stock decline is attributed to market sentiment despite the company's positive outlook on AI investments. Cramer believes the sell-off is unwarranted given Alphabet's strong position.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Tesla shares fell about 9% in premarket trading despite positive remarks from Jim Cramer about the company's advancements in self-driving technology, robotics, and grid electric flow.
Despite positive developments and Cramer's praise, the market sentiment led to a significant drop in Tesla's stock price. The sell-off appears to be driven by broader market trends rather than company-specific issues.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100