Cramer: SolarCity Is 'In First Class Crisis' But Acts As If Everything Is Fine

Shares of SolarCity Corp SCTY were trading lower by more than 25 percent Tuesday after the company reported first quarter results and slashed second quarter guidance.

SolarCity noted in its quarterly report a 19 percent increase in its cost per watt, "largely owing to lower volume."

Jim Cramer said during Monday's "The Mad Dash" segment that he considers himself to be a "conference call aficionado" and that SolarCity's post Q1 call was perhaps "the worst conference call of 2016."

Related Link: SolarCity Plummets 20% Following Earnings Release

According to Cramer, SolarCity CEO Lyndon Rive was upbeat during the conference call when he detailed how "bookings are great." However, the executive's comments are hardly reflective of the company's quarterly performance given a wider than expected loss.

Cramer stated that SolarCity was on the receiving end of difficult questions from analysts during the Q&A session.

"I have not heard these kinds of questions in my career," Cramer continued. "Bank of America said... you are going to love this... 'what exactly is the business model of SolarCity?' then, Ben Kallo [of R.W. Baird] asks.. what is SolarCity?"

Cramer added that SolarCity's response to these questions "wasn't really clear." As such, SolarCity is a "company that I regard in first class crisis that acts as if everything is fine."

Finally, Cramer reiterated that he never heard a Wall Street analyst ask a company straight up "What are you?... Who are you?.. What is SolarCity?"