Should You Buy Tesla Stock On Dip? Here's What Jim Cramer Has To Say

Benzinga2021-08-18

CNBC host Jim Cramer has advised investors to buy shares in electric vehicle maker Tesla Motors as the stock extended losses to a third day on Tuesday.

What Happened: “Can we just buy Tesla? Tesla is down. They do renewable energy. They have solar energy and the car,” Cramer said on CNBC’s “Mad Money Lightning Round.”

Cramer has recommended that investors buy some shares in Tesla now and also buy later if the stock falls another 5%.

Why It Matters: Tesla’s shares fell for a third day on Tuesday amid worries about vehicle safety issues and disappointing economic data from China, the company’s second-largest market.

It was reported on Monday that the National Highway Traffic Safety Administration (NHTSA) has opened a formal investigation into the electric vehicle maker’s Autopilot system.

Tesla is also seeing high interest from retail investors and was the sixth-most discussed stock on the Reddit’s WallStreetBets forum as of Tuesday night. The forum, which has 10.7 million users, is best known for driving the rally in GameStop and other heavily-shorted stocks earlier this year.

The Elon Musk-led company had reported better-than-expected earnings results for the second quarter last month.

Price Action: Tesla shares closed almost 3% lower in Tuesday’s trading at $665.71.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • 石榴妹
    2021-09-06
    石榴妹
    1
  • BoonHuat
    2021-08-18
    BoonHuat
    Buy! Good price to enter now.
  • Jaccvc78
    2021-08-18
    Jaccvc78
    Good time to stock in[財迷] 
  • Cedric77
    2021-08-18
    Cedric77
    Yes. Dipped = Buy! Correction = Buy! For EV, TESLA is the lead. How can you like EV and but u dun own TESLA  right? So always when Dipped or Correction! Is A BUY!
  • Huat1333
    2021-08-18
    Huat1333
    [微笑] [微笑] [微笑] 
  • HENRYCSC
    2021-08-18
    HENRYCSC
    [LOL] 
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