Jim Cramer’s Bold Predictions About These 15 Tech Stocks

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2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders In Q3 2024: 99

Date of Cramer’s Comments: 10-18-24

Tesla, Inc. (NASDAQ:TSLA) is one of the most unique companies in the world. This is because while its narrative is partly dependent on the EV industry, a large portion also depends on CEO Elon Musk. Cramer spent quite a bit of time on this during his show as he pointed out Musk’s difficulties in convincing investors about Tesla’s Cybercab plans:

“After the close Wednesday, it’s mega MAGA man, Musk and the Tesla show. People didn’t like his recent self-driving presentation, so I think he’s going to try harder to deliver a really good set of Tesla numbers because they have been lowered and lowered and lowered so you can beat them. That’s when Elon Musk does his best work.”

Since then, Tesla, Inc. (NASDAQ:TSLA)’s shares have soared by 98% mostly due to Musk’s closeness with President-elect Donald Trump. The post-election boom saw the firm’s shares rise by 39%, and they have been further bolstered by reports that the incoming administration will not only scrap a controversial crash reporting rule but also loosen the requirements for self-driving cars. Self-driving is a key facet of Tesla, Inc. (NASDAQ:TSLA)’s hypothesis, with analysts having priced in quite a bit of revenues from it into the share price. Cramer’s enthusiasm about Musk was clearly correct.

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