We recently published a list of 10 Stocks on Jim Cramer’s Radar Amid Market Volatility. In this article, we are going to take a look at where Tesla, Inc. (NASDAQ:TSLA) stands against other stocks on Jim Cramer’s radar amid market volatility.
Jim Cramer in a latest program on CNBC commented on the reasons behind the recent selloff and said the market correction isn’t always healthy. He continues to believe the key reason behind the latest market drop was President Trump’s volatile tariff policies.
“I think Trump’s core thesis is right, our trading partners have taken advantage of our country for decades and it’s worth trying to set that right, but it’s a very big but, Trump’s approach has been way too erratic, it’s terrified both the stock market and the broader economy, not just the stock market, the broader economy. Most of the substantive tariff news comes in the form of postings on Truth Social, they come fast and furious, they’re incredibly important, they’re incredibly contradictory. These posts involve hundreds of billions of dollars if not trillions of dollars and more importantly hundreds of thousands of jobs, including yours. The Mercurial postings, the scatter shot approach to trade policy is the approximate cause of the correction.”
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In
For this article we picked 10 stocks Jim Cramer talked about in his programs recently. With each stock, we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Number of Hedge Funds Investors: 99
Jim Cramer in a latest program on CNBC said he checked with famous chartist Larry Williams about the valuation of Tesla Inc (NASDAQ:TSLA) and forecasting the stock’s future. According to Cramer, Larry believes Tesla is nearing its bottom.
“We’re going off the charts with Larry Williams. He’s the legendary technician and market historian who’s been the best in the business since before I learned how to draw. He’s written over a dozen books, created a ton of proprietary technical indicators, and most importantly, he’s got a stunning track record, especially over the past 5 years. I revere him, always have. Larry’s the one who called the COVID bottom, for instance, in April 2020, back when just about everyone was terrified that we’d be stuck in a prolonged government-mandated recession. And you know what he’s doing tonight? He’s calling the bottom in Tesla. Larry loves to look at how stocks tend to trade over the course of the year. He goes over the history, then finds the seasonal pattern, and it plays out time after time. The true seasonal pattern in blue shows that Tesla typically begins rallying at this time of the year. Sure enough, the stock’s already going up, so I’ve got to tell you, I’m with that. Now, Larry also likes to hunt for cycles that seem to be repeating themselves beyond the annual seasonal cycle. He’ll identify a bunch of these, then combine them together into a wave that predicts where the stock is likely headed. So, here’s what Tesla looks like with this cycle forecast attached to it. The forecast is blue on the way up, gray on the way down. Right now, it suggests that Tesla should be ready to rally—maybe furiously—with a pullback creating another buying opportunity around mid-June. Larry notes that we’ve seen this wave in Tesla stock numerous times before. Historically, stocks rallied 80% of the time during this time period. I think that’s pretty good odds. So, if you believe Larry Williams—and he’s earned a lot of credibility over the years—then this is a “gentleman starter” electric engines moment for Tesla. Assuming he’s right, the stock’s rebound of the past couple of days is just the beginning of a huge move. And I’ve got to tell you, all aboard, I’m with Larry.”
