In April, Tesla Inc TSLA CEO Elon Musk said he was done selling Tesla shares to help finance his ongoing overhaul at Twitter.
Since then, he jettisoned more than $20 billion worth of Tesla stock and has continued the selling spree this week.
As the stock continues to skid, Jim Cramer sees an electric buying opportunity.
What To Know: Most people believe that Musk’s “eye is off the ball” in the wake of his Twitter acquisition, meaning he’s not as focused on Tesla as he should be, Cramer said Thursday on CNBC’s “Squawk On The Street.”
But that’s not the case, Cramer added, citing how competing management teams at Ford Motor Co F and General Motors Co GM aren’t doubting Musk.
“I think that this man is underestimated,” Cramer said.
Check This Out: Here’s How Much Tesla Stock Elon Musk Owns After Latest Sale
Although Musk may have done some underestimating of his own when assessing the problems at Twitter, Cramer isn’t betting against him.
He also isn’t willing to buy the idea that Tesla is going to be hurt by the Twitter takeover beyond a temporary stock slide.
“Oh come on! Tesla is a good stock right here,” Cramer said. “You just need to see him stop selling.”
He noted that no one really knows what’s going on at Twitter despite the tweet updates from Musk.
“Maybe it’s going to turn out to be the greatest investment ever,” Cramer said.
TSLA Price Action: Tesla shares hit new 52-week lows on Thursday before bouncing back.
The stock was up 0.52% at $157.63 Thursday afternoon, according to Benzinga Pro.
Photo: Web Summit from Flickr.
Image and article originally from www.benzinga.com. Read the original article here.