Was Jim Cramer Right About Tesla, Inc. (TSLA)?

We recently published a list of Jim Cramer Nailed These 11 Stock Predictions. In this article, we are going to take a look at where Tesla, Inc. (NASDAQ:TSLA) stands against other stocks that Jim Cramer discusses.

Back in 2024, on May 20, a caller asked Cramer whether it was time to buy, sell, or hold Tesla, Inc. (NASDAQ:TSLA), given its steep decline at the time. Cramer didn’t want to bet against it but advised a scaled buying approach.

“Great question. It’s what I call a ‘down stock.’ There’s a preponderance of people who come in that want to sell it. I don’t want to bet against the stock down here at 174, but I would buy it in scale. That would mean buying — let’s say you want 100 shares — you buy 25 here, 25 at 150, 25 at 125, and then 25 at 100. That’s the only way I can recommend it, because it is falling right now.”

Great call by Cramer, as the stock has risen by 100.17% over the past year. Tesla, Inc. (NASDAQ:TSLA) is rallying strongly as investors rotate back into mega-cap growth and AI leadership stocks.

Cramer is now bullish on Tesla. Here’s what he said when a caller recently asked him if their child should start a position in the stock:

“Absolutely. Absolutely. And… Tesla, you know, broke down after that report, that bad quarter. Adam Jonas, my favorite analyst in this space, said, listen, it’s time to start thinking about this. This is a technology company. I went out hard with his, I don’t mind being derivative with his idea. Boy, we’ve caught a lot and we’re not done. It’s going to go higher.”

Overall, TSLA ranks 3rd on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSLA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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