TECH - Jim Cramer Slams Cathie Wood's 'Bold' Claims Of 80% Vehicles Being EV In A Few Years: 'Painful' | Benzinga
Jim Cramer took a potshot at Ark Invest's Cathie Wood's "bold" claims that 80% of the vehicles on the road will be electric in a "few years."
What Happened: Cramer slammed Wood's belief after Tesla Inc.'s (NASDAQ:TSLA) big sales miss in the March 2024 quarter.
"Cathie Wood making bold claims about 80% of vehicles being EV in just a few years .. I [think] this PAINFUL…"
Cramer's comments come after Elon Musk-led EV giant reported a major sales miss in the March 2023 quarter, with its production and deliveries both down on a year-on-year as well as quarter-on-quarter basis.
While analysts feared a fall in Tesla sales during the quarter, Wood doubled down on her bet on the EV maker, plowing in another $39 million in the company's stock.
Cramer, though, dunked on Wood, saying that this is going to ...