Cramer: Bears Are Worried About Tesla

Tesla Motors Inc TSLA stock spiked up significantly on Monday on back of the press release from the company on Friday (post market closing) which revealed that the company sold over 10,000 Model S during the first quarter of this fiscal year, surpassing management's estimates of 9,500 deliveries. CNBC's Jim Cramer was recently seen discussing the numbers released by Tesla. Bears Are Worried "Well, this was a fabulous short-squeeze […]," Cramer said. "I mean they come out, I mean what I love it is the shorts digging their heels.Bank of America was saying it's disappointing. Disappointing? We didn't even expect it." "It's like [they aren't suppose to release it and they are disappointed] maybe they would have said it was disappointing [if it was good] like you got to, like when facts change, this was a good number and I like the car, but Bank of America says this is only 2 percent sequential growth, reiterates Underperforms." He continued, "The fact is, this is the bears are worried, [this is] there wasn't even supposed to be a number. Now was the number good or bad? I don't know, there was a number. It is begetting to look a lot like other car companies." Was Ready For A Bounce Cramer remarked, "The fact is they came out, they issued a release, the stock has been down a lot, the chart was ready for a bounce. Elon Musk taking a look at the chart, I think, he realized it was reverse head and shoulders and he comes out with a great number."