We recently published 8 Stocks Jim Cramer Talked About. Tesla, Inc. (NASDAQ:TSLA) is one of the stocks Jim Cramer recently discussed.
The central debate surrounding electric vehicle manufacturer Tesla, Inc. (NASDAQ:TSLA) is whether it’s a car company or whether CEO Elon Musk’s insistence that his firm is a technology company focused on humanoid robots and machine learning. Cramer’s a member of the latter camp and has insisted that investors need to focus on Tesla, Inc. (NASDAQ:TSLA)’s technology aspects instead of its car sales. However, the sales appear to be affecting the shares as they dipped after media reports suggested that the firm was struggling in Europe. According to Reuters and Bloomberg, not only did Tesla, Inc. (NASDAQ:TSLA)’s European sales drop 28.5% in Europe, but Sweden was particularly painful as it experienced a shocking 89% dip. Cramer discussed the effect on the stock price and his opinion about Tesla, Inc. (NASDAQ:TSLA)’s business model:
“I’m surprised the stock is only down 18 given the fact that the numbers aren’t that good. But remember it’s also not really trading on being a car company. Although you have Uber out there talking. . .”
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Disclosure: None. This article is originally published at Insider Monkey.