Jim Cramer Notes Tesla Stock Was Up in the "Wake of Two Downgrades"

Tesla, Inc. (NASDAQ:TSLA) is one of the 14 stocks on Jim Cramer’s radar. While Cramer took into account that Tesla, Inc. (NASDAQ:TSLA) stock received two downgrades recently, he mentioned that he would still not go against the company.

“Now it’s a big reason why I don’t want to bet against Tesla even after a host of downgrades. You got two of them today. Look, I don’t like the spat with the President. Musk is entitled to his opinions, but it was a bad call for the shareholders, right? I don’t like that cars aren’t selling well, I see that too. I want him to focus on the car, focus on his robots, blow things away for heaven’s sake, but I don’t think he’s done.

There’s another act coming from Musk, and I want to benefit from it. The robotaxi launch[es] in Austin, that’s right, on Thursday, June 12th. Stock got two downgrades today, and you know what happened? How much did it go down? Was it down 10? Was it down 20? No, let’s just check it out for a little cinéma vérité. The stock was, oh, look at that, it was up $13 and 44 cents or 4.55% on two downgrades. Yeah, today in the wake of two downgrades, the stock is up $13 and 44 cents.”

Tesla (NASDAQ:TSLA) designs, builds, and sells electric vehicles and energy products. The company provides vehicle sales, financing plans, energy storage systems, solar power solutions, and related services to a wide range of customers.

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