CNBC “Mad Money” host and former hedge fund manager Jim Cramer on Thursday questioned whether Tesla Inc TSLA can sell even a quarter of its estimated annual output of Cybertrucks.
What Happened: “I wonder whether this man [Elon Musk] can sell even 50,000 of the 200,000 Cybertrucks, and this may be Ford’s year after all of the sturm und drang [storm and stress] about Shawn Fain,” Cramer said on television.
He added that the Cybertruck, priced at about $100,000 does not have the payload of a Ford Maverick truck and is not durable.
Tesla, from its end, is yet to announce the price and specifications of the truck. Musk, however, has dropped hints here and there.
In a recent podcast with Joe Rogan, Musk said that the vehicle would weigh up to 7,000 pounds and added that the company is aiming to make 200,000 Cybertrucks every year at volume production.
Responding to Cramer, Musk wrote on X, “This is a good omen! Inverse Cramer never fails.”
The CEO also reacted with laughter emojis to a user who shared the same snippet from the show and wrote, “Bookmark this video… Inverse Cramer is likely going to make this a video to keep.”
Why It Matters: Musk has taken digs at Cramer in the past in the same vein.
Social media often jokes that a stock recommendation by Cramer is a death kiss and vice versa. In fact, his recommendations are even the theme of an ETF that tracks his stock picks.
In October 2022, Matthew Tuttle‘s Tuttle Capital Management filed two new ETFs- the Inverse Cramer ETF and the Long Cramer ETF.
While the Inverse Cramer ETF bets against Cramer's stock recommendations, the Long Cramer ETF will invest in stocks and ETFs on which Cramer is positive.
Meanwhile, the first deliveries of the Cybertruck are scheduled to take place at Gigafactory Texas on Nov. 30.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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