Jim Cramer on Tesla: "It Is a Horse"

Tesla, Inc. (NASDAQ:TSLA) is one of the stocks Jim Cramer discussed along with macroeconomic conditions. Cramer compared the company’s Robotaxi service to Waymo, as he commented:

“Tesla Robotaxi service, meanwhile, is making progress, albeit at a slower pace than Waymo, and Musk had a high-profile falling out with the president last spring. Still, that hasn’t held back Tesla’s stock, which has been roaring for months. It is a horse.”

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. In addition, the company is working on autonomous vehicles and robots. Cramer noted the company’s transformation during the December 11 episode, as he said:

“Finally, Tesla’s transitioning from auto company to tech company, from a company that’s getting its head handed to it in sales to a company that’s a nascent leader in robots and self-driving cars and in energy storage. The auto business benefits from a rate cut, but Tesla no longer trades like an auto stock. Everything else is totally unrelated to the Fed. It doesn’t work. No wind at the back of any of these.”

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