TSLA - Jim Cramer Says Eli Lilly Could Replace Tesla In 'Magnificent Seven' List: 'To Ignore...Is To Reject The Facts' | Benzinga

Jim Cramer, the host of CNBC’s “Mad Money,” has hinted at the possibility of Tesla Inc (NASDAQ:TSLA) being replaced by Eli Lilly and Co (NYSE:LLY) in the “Magnificent Seven” list of mega-cap stocks.

What Happened: Cramer, in his show on Monday, suggested that Tesla might be on a “growth pause” compared to its Big Tech counterparts, reported CNBC. He said that if Tesla loses its position, Eli Lilly could be a strong contender to take its place.

The “Magnificent Seven” currently comprises Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Meta Platforms Inc (NASDAQ:META), NVIDIA Corp (NASDAQ:NVDA), Tesla, and Microsoft Corp (NASDAQ:MSFT).

Tesla’s stock has dropped by almost 16% in 2024, with factors such as fierce competition from Chinese EV-makers and potential market saturation in the U.S. contributing to this decline. The automotive industry’s focus on EVs also seems to be waning, with companies like Hertz Global Holdings Inc (NASDAQ:HTZ) and General Motors Co (NYSE:GM) making significant decisions.

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