Jim Cramer Super Bullish on Tesla Stock, Expects Price to Go Much Higher
Infamous market analyst Jim Cramer thinks Tesla’s (TSLA) current price will be dwarfed in the future, as evidenced by his comments yesterday on a locked-down TheStreet episode.
We’ll be saying, ‘what were we doing? [Tesla’s stock price] was only at $800’
Tesla’s price is already trending near its all-time-high at time of writing, which high was set only a couple of months ago in March at about $970. The current trading price is $827.
Cramer’s expectations regarding Tesla are informed by two moves the company is making.
First, there are rumors that Tesla may open a production plant in the US state of Texas, which will produce the company’s new electric truck.
Second, there seems to be a bit of progress on the construction of Tesla’s Giga Factory in Berlin, Germany. This factory is expected to produce the company’s Model Y vehicle.
TSLA chart by TradingView
CryptoGlobe recently reported that Tesla was planning to send workers back to work at its Fremont, CA plant, in spite of a municipal order that workers be furloughed. Little has changed since then, with only minimal workers allowed at the plant; although Tesla has recently dropped its lawsuit against Fremont county.
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