TECH - Elon Musk Laughs At Jim Cramer Saying He'd Rather Buy GM Over Tesla With EV Giant's Stock Rallying 44% Since: 'Amazing' | Benzinga
Elon Musk on Tuesday laughed at how Tesla Inc.’s (NASDAQ:TSLA) stock rallied after Jim Cramer said in June that he would buy legacy automaker General Motors‘ stock over the EV giant’s.
What Happened: CNBC "Mad Money" host and former hedge fund manager Jim Cramer said in late June that he would rather buy General Motors shares than Tesla’s. GM CEO Mary Barra is “crushing it,” Cramer then said.
However, Tesla’s shares have surged significantly since then, thanks to the company’s second-quarter delivery numbers published last week. Although lower than the corresponding quarter last year, Tesla’s second-quarter numbers beat estimates, sending the stock rallying and recovering losses since the start of the year.
Social media often jokes that a stock recommendation by Cramer is a death kiss and vice versa. Since Cramer’s prediction on June 24, Tesla stock has risen nearly 44% while GM stock fell nearly 4%.
The Tesla CEO too joined the community on Tuesday to laugh at how Cramer’s prediction backfired and wrote, “Amazing.”
Amazing 😂 — Elon Musk (@elonmusk) July 9, 2024
Despite the rise in sales, electric vehicles still contribute ...