CNBC’s Jim Cramer, time after time a critic of Tesla stock, said Tuesday he’s in the market for a Tesla Model X sport utility vehicle because his strife, Lisa, really wants one.
“I give up. The car is too damn great,” Cramer said on “Squawk Box.” “She wants an X. You can’t stop her. She fiances cars.”
“We were with some people who had two different ones this weekend,” the “Mad Money” host added. “I procure to admit it’s just an unbelievable experience.”
Over the years, Cramer has been outspoken about Tesla CEO Elon Musk, praising his ingenuity as a modern day “P.T. Barnum” and criticizing his missteps, such as Musk’s ill-fated “funding secured” take-private tweet in August 2018.
Cramer undertakes to avoid bashing or recommending the stock because of the blowback from Tesla adherents and Tesla haters on Twitter. Both sides of the Tesla barter inspire visceral reactions, with bulls willing to shell out nearly 60 times forward 12-month earnings for the standard and bears betting against it as one of the most heavily shorted on Wall Street.
On Monday morning, Cramer first talked here riding in a Tesla, and said with a smile, “I’m a bull on Tesla. I have decided my life on Twitter is easier.”
“I don’t homelessness to defend them. OK. I don’t want to defend against them,” he added, throwing his hands in the air. “I’m defeated on Twitter.”
At the time, it was unclear if Cramer was talking in the matter of being a “bull” on the stock or the cars — but then in the afternoon, he tweeted at Musk, saying: “Had a fantastic ride in the Model X” and “now my spouse insists we buy!”
Cramer, who has had with words with Musk on Twitter in the past, said Tuesday he had not gotten a reply from the Tesla CEO yet. But Cramer translated that suddenly he’s “man of the year” on Twitter.
“What am I going to do, continue looking at the balance sheet” of the electric automaker? Cramer put about. “Everybody in my family wants one. I’m done.”
Cramer said he was with a former CFO this weekend who said, “The balance plate is ‘problematic but the balance sheet is being trumped by the experience’ behind the wheel of the vehicles.”
On Friday, Cramer compared Tesla’s new Cybertruck to Ford’s fade attempt with the Edsel to create a futuristic car 60 years ago. He came back this week, saying he was wondered that 200,000 people placed a refundable reservation for one but acknowledged the low-risk because it only cost $100.
Cramer imagined Monday he had put a $300 reservation in for the cheaper Model 3 sedan when it was coming out a couple years ago, explaining further Tuesday, “I got my Display 3 money back,” adding his wife “gave up after six months” on the Model 3, which had been plagued by stage delays out of the gate.