Tesla Inc TSLA shares have staged an impressive rally over the past month, setting a new record for most consecutive green days along the way. Jim Cramer is calling the surge "'The Princess Bride' move."
What To Know: Tesla shares are up more than 55% since the company's annual shareholder meeting. Immediately following the event, Tesla CEO Elon Musk was interviewed by CNBC's David Faber.
The biggest takeaway from that day for investors was that Musk would be spending less time at Twitter and focusing on his role at Tesla, Cramer said Wednesday on CNBC's "Squawk On The Street."
Reports leading up to Tesla's annual shareholder event suggested that Musk could step down as Tesla CEO in the near future, but Musk shut down that speculation in a Q&A session when he said the rumors weren't true.
Furthermore, Musk told Tesla shareholders he would spend less time at Twitter following Linda Yaccarino's appointment as CEO.
"What was 'The Princess Bride' [interview] about? It was 'I'm no longer involved in the day-to-day [at Twitter], I'm back to work,'" Cramer said: "So this is 'The Princess Bride move."
During Faber's interview with Musk, he asked the Tesla CEO why he speaks his mind on Twitter and tweets so many things that are often polarizing and controversial and make him a "lightning rod for criticism."
After a prolonged silence, Musk responded, "You know, I'm reminded of a scene in 'The Princess Bride' — great movie — where he confronts the person who killed his father and he says, 'Offer me money, offer me power, I don't care.'"
Musk clarified that he is going to say what he wants to say, when he wants to say it and if the consequence of that is losing money, "so be it."
Tuesday was the 13th consecutive trading session that Tesla shares finished higher, marking the longest surge by trading days in Tesla history. The stock previously traded higher over 11 straight sessions in 2021.
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TSLA Price Action: Tesla shares were down 0.35% at $257.84 at publication on Wednesday, according to Benzinga Pro.
Photo: Owen Byrne from Flickr.
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