Jim Cramer Says "Tesla Trades on Elon Musk's Storytelling"

Tesla, Inc. (NASDAQ:TSLA) is one of the stocks Jim Cramer put under the microscope. Cramer said that investors need more details on how the company’s autonomous taxis and robots are doing when it reports. The Mad Money host remarked:

Tesla’s the last Mag Seven company reporting on Wednesday, and it’ll be the one I’m actually paying least attention to because this is the only Mag Seven stock that we don’t own for the Charitable Trust. At the same time, Tesla doesn’t really trade on the numbers at all. If it did, the stock would be in the gutter because the electric vehicle business is in such bad shape. Instead, Tesla trades on Elon Musk’s storytelling. He’s been pitching a fantastic narrative about self-driving taxis and robots. So we need to hear more details on how these technologies are going. At the World Economic Forum, Davos last week, Musk said he expects Tesla to start selling humanoid robots by the end of 2027. But even though he’s a brilliant businessman, he has a history of being overly optimistic about his timelines. So anything that he can say to make investors feel like that data is solid will bolster the stock.

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.

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