Tesla, Inc. (NASDAQ:TSLA) is one of the Stocks Jim Cramer Discussed After Fed Rate Cut. Cramer highlighted the company’s transition during the episode, as he said:
“Finally, Tesla is going from an auto company to a technology company, from a company that’s getting a head start on sales to a company that’s a budding leader in robots and self-driving cars and energy storage. The auto business benefits from a rate cut, but Tesla no longer trades like an auto stock. Everything else has no relationship to the Fed. It doesn’t work. There’s no wind behind any of this.”
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Tesla, Inc. (NASDAQ:TSLA) designs and sells electric vehicles and also develops and installs solar energy and storage systems for residential, commercial and industrial customers. Additionally, the company is working on autonomous vehicles and robots. Cramer spoke about the company during the November 25 episode, commenting:
“Tesla was a car company, and its stock recovered as a car company, and then when things got very competitive in electric vehicles, the stock got hit again and again. But when Tesla fell from $400 to $200 earlier this year, something surprising happened. The stock, not the company, the stock, it was always the same company, became a chip in the great game of autonomous driving and robots. CEO Elon Musk simply changed the narrative, and the Street bought it. That perception has allowed the stock to recover almost all of those lost points, even though it is virtually the same company it was before the EV earnings decline. And that’s what the Magnificent 7 does.
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Disclosure: None. This article was originally published in Internal jumpsuit.