Tesla (Nasdaq: TSLABattery Day skeptics sat around and looked at the negatives, according to Jim Kramer. Ignoring the pluses of the event altogether, critics who said the company event was a failure do not look at the right things, and are only upset about not announcing what they want.
In an episode of MSNBC’s Mad MoneyAnd Kramer stated that investors should not be sweating the drop that TSLA’s stock felt in the sessions that followed the Battery Day event. Instead, they should look at all the positives that CEO Elon Musk and the company revealed during their highly anticipated presentation.
A $ 25,000 car, a plan to get affordable battery prices, and a plan to build 20 million cars a year are enough to get Kramer excited. Why aren’t others behind him.
“They were just shocked that the things they overtook didn’t happen.”
“Tesla is presenting a plan to create an electric car for the masses, and it was greeted with yawns because Musk did not cast a magic battery,” says Kramer. He said the notion that the event was “a failure” or “disappointing” is not the fault of anyone but critics.
“This is what happens when you let expectations get out of hand.”
Musk uncovered New 4680 battery cell With increased power, energy density, and range. Also, it announced that Tesla was actually building the cell in Pilot battery included Just down the road from the production plant in Fremont, California. In addition, 20 million cars must be produced annually by 2030, which would outpace the world’s largest car companies, such as Toyota, which only produces 10 million cars annually.
The idea that a million-mile battery was a guarantee turned out to be incorrect. While Tesla unveiled a new revolutionary cell, the company has never stated any explicit details about the million-mile age, and analysts have let it down.
But ignoring all the positives announced by Tesla because they didn’t get what they wanted from the event is no reason to let stocks drop, Kramer suggests.
What Musk announced on Tuesday “could be as revolutionary as the Model T when Henry Ford built … 15 million of them,” Kramer suggests. It was the first time that ordinary people could buy a car. “
Now that Tesla has entered the world of affordable transportation, people should be more excited. The problem is that the event didn’t have all the bright lights and sci-fi music, as Cybertruck did in late 2019. It was a low-key presentation due to social distancing regulations, and Tesla did everything in its power to make it memorable.
In fact, it was a very special day, and Jim Cramer thinks just because some people just didn’t get what they want doesn’t mean it wasn’t a huge success.
Disclaimer: Joey Klender is a TSLA shareholder.