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Tesla (TSLA) Stock Nearly 1% Up, Jim Cramer Believes It’s Time to Buy

Tesla Inc (NASDAQ: TSLA) stock is in green these days and it is a good time to buy it. This is what top financial markets commentator Jim Cramer thinks. Jim indicated this in an exclusive video call with his action alerts team on popular investment analysis firm Thestreet.

In the video, when asked ” what entry-level” he would consider buying into Cramer replied: “Right here”. This comes after Elon Musk had tweeted at the weekend about Tesla’s stock overheating. Stock prices of the electric vehicle maker had been rising exponentially in the week.

Cramer also gave his reasons for his recommendations to buy Tesla stock now. He said:

“Look, he has every right to write what he did. Tesla would be at $1,000 if the Germans didn’t fight the planet. If China didn’t have COVID first. If the fascists as he calls them didn’t make his plant close in California. So I totally understand why he thinks it [Tesla stock] is too expensive because he doesn’t like the regulation”.

This points to the somewhat rebellious and “Avante-Garde” approach that the technology billionaire has to manage.

Elon Musk has never been known to fit in the regular mold of other CEOs. A normal workday in Elon’s life could be many years of excitement in the life of your regular CEO.

He has also gotten into trouble several times with his tweets and comments. His tweet on Friday cost Tesla about $14 billion in market capitalization value.

Jim Cramer in the video call also said:

“I on the other hand, just say “look Tesla’s great” and he may want to have the stock come down for whatever reason. Or he is just an honest purveyor of angst about how he could be doing so much better which he could be. But I think that as he is doing is enough to continue to [buy] the stock”.

As Tesla (TSLA) stock prices continue to climb, Elon Musk seems to be on the verge of several breakthroughs. As it stands, Elon stands to gain about $700 million in stock options. This payout is one of 12 that Elon stands to gain from.

The agreement was reached by Tesla’s board in 2018. The payouts are tied to several conditions. Tesla has had an average market capitalization of about $100 billion sources say. This average has held for more than six months.

Sources say that Musk has met two other requirements. One of them is holding a market capitalization of $100 billion for more than 30 days. The other has to do with a growth target.

The 12 tranches give Elon the option to buy 1.69 million Tesla shares at $350.02 each. These are the conditions per tranche. This has led many pundits to believe that a lot of his antics on social media are linked to his 12 paydays.

For now, though, Tesla is a company whose stock prices seem to keep brightening the markets at this time and a CEO who is unpredictable.

As at the time of filing this report, Tesla (TSLA) stock price was $776.61 (+1.09%) in the pre-market. Yesterday, it closed at $768.21 (+0.92%).

Tesla (TSLA) Stock Nearly 1% Up, Jim Cramer Believes It’s Time to Buy

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