Tesla, Inc. (TSLA): "It's Not A Car Company," Asserts Jim Cramer

Tesla, Inc. (NASDAQ:TSLA) is one of the Jim Cramer Warns Viewers About FOMO & Discusses These 19 Stocks.

Tesla, Inc. (NASDAQ:TSLA), the world’s largest pure-play electric vehicle manufacturer, has continued to face turmoil in the stock market this year. Despite the fact that the shares have lost 14.6% year-to-date, Cramer has remained optimistic about the firm. Like Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk, Cramer also believes that the firm is a technology and robotics company. As a result, the CNBC host has been left mostly unbothered by the stock price performance. He has also changed his mind quite a bit about Tesla, Inc. (NASDAQ:TSLA). After Musk’s brief spar with Trump earlier this year, Cramer wondered whether the company would face the heat. However, pretty soon he became a bull as the two of the most powerful men in America settled their differences. After co-host David Faber pointed out that Tesla, Inc. (NASDAQ:TSLA) was struggling with vehicle deliveries, Cramer replied:

“You can’t worry about those. It’s not a car company. . . cause I believe what Musk says cause Musk is working with Jensen and Jensen’s telling me what’s happening on the other side is pretty amazing.”

“[In response to Faber asking when the robots will come online] Well it’s not American companies that are involved in robots. Also, Norway. It’s got very good robots. Well I think Tesla ultimately will be [a leader in robots]. I don’t think people realize what’s coming.”

In his earlier remarks, Cramer commented on Tesla, Inc. (NASDAQ:TSLA)’s robotaxi launch:

“[On videos of robotaxi cars making mistakes in Texas and NHTSA contacting Tesla as a result] Look I mean drivers make mistakes all the time. Why should we hold Tesla to a standard where there can be no mistakes?

“Is it questionable David, that the car that we saw in the wrong lane, was that car drinking? I rest my case.

“Well look, all I can tell you is, it’s happening it’s going to happen, I think Tesla’s right to go higher. They actually have a good product, it’s very inexpensive. And by the way, Musk is back being Musk. I mean Musk is just doing his job.

“Well he’s back, he’s [Musk] back. And look the stock market reflects it.”

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