Tesla Inc TSLA shares are putting the pedal to the floor Thursday after the EV company reported numbers that were better than feared.
Jim Cramer applauded the results, but was it enough to get the longtime Ford Motor Co F bull to favor the Elon Musk-led company?
What To Know: Cramer said he's impressed by Tesla's ability to deliver while facing several challenges.
"[Tesla] reported another good quarter, remarkable given the lockdowns in China," Cramer said Wednesday on CNBC's "Mad Money."
The CNBC host said he remains much more interested in buying Ford or even General Motors Co GM.
"Unlike Tesla, Ford's got more than a 3% yield and a plethora of new models that are pretty much sold out, including electrics," Cramer said.
He acknowledged that Ford doesn't have the "pizazz" of Tesla, but maybe that's a good thing, he said.
Pizazz is what led Musk into a sticky situation with Twitter Inc TWTR, he added, noting that Musk may be forced to sell Tesla stock to buy the social media platform.
"Rather than past growth, this is a market that cares about value and future success. That's what you need to be able to look out for. Not the biggest winners of the last decade, the next winners of the next decade," Cramer emphasized.
The "Mad Money" host trimmed his Ford position for his charitable trust near the highs and has been waiting for the right opportunity to buy the shares back. At the beginning of the month, he said he would increase his position if the stock fell to $10 per share.
F Price Action: Ford has a 52-week high of $25.87 and a 52-week low of $10.61.
The stock was up 0.55% at $12.80 Thursday afternoon, according to data from Benzinga Pro.
Photos: courtesy of Tesla & Ford.
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