Jim Cramer on Tesla: "CEO Elon Musk Simply Changed the Narrative, and the Street Bought It"

Tesla, Inc. (NASDAQ:TSLA) is one of the stocks Jim Cramer recently talked about. Cramer highlighted the market’s change in perception about the stock, as he remarked:

“Tesla was a car company, and its stock rallied as a car company, and then when things got very competitive in electric vehicles, the stock got hammered and hammered and hammered again. But when Tesla fell from the $400s to the $200s at the beginning of this year, an amazing thing happened. The stock, not the company, the stock, was always the same company, morphed into a chit in the great game of self-driving and robots. CEO Elon Musk simply changed the narrative, and the Street bought it. That perception has allowed the stock to regain almost all those lost points, even though it’s pretty much the same company it was before the decline in electric vehicle profits. And that’s what the Magnificent 7 do.”

Tesla, Inc. (NASDAQ:TSLA) designs and sells electric vehicles and also develops and installs solar energy and storage systems for residential, commercial, and industrial customers.

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Disclosure: None. This article is originally published at Insider Monkey.