TSLA - Jim Cramer Says Tesla Stock Will 'Keep Running Until All Shorts Are Crushed' Praises Elon Musk's China FSD Deal As 'Perfect Example Of Redefining Narrative' | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares rallied over 15% on Monday following news that CEO Elon Musk has clinched a deal with the Chinese government to roll out full self-driving in the country and transfer data from the country. CNBC Mad Money host Jim Cramer, though not a big fan of the company, lauded Musk’s move.
What Happened: “Elon Musk pulled a rabbit out of the hat. He bagged a terrific one this weekend when he got permission to sell a subscription-based full self-driving for the Tesla giant,” said Cramer on his Mad Money show.
This, according to Cramer, gives a whole new revenue stream for Tesla and can go a long way toward restoring the price momentum after the vicious price-cutting in China.
“He made a surprise trip to China and nailed down a deal. This is unbelievable,” the stock picker said. “Also [a] perfect example of a CEO redefining narrative.”
Cramer also expressed surprise at the ease with which Musk got the deal done with China.
“He got on a plane ...