Image: CNBC
Jim Cramer favors Tesla stock over Ford right now. Tesla gained the attention of the Mad Money host after he became frustrated with Ford due to its poor performance in Q4 2022.
Jim Cramer, one of CNBC's hosts and contributors, had his say when asked which automaker's stock he had rather own. During the February 6 episode of Squawk on The Street, he was asked which automaker he would rather own Tesla or Ford. Without hesitation, Cramer said that now he chooses Tesla.
“Now, Tesla,” Cramer replied.
“Tesla's got no more insider selling,” Cramer said. “I thought that was good.”
The Mad Money host noted that Ford recently fell short of Wall Street's fourth-quarter earnings expectations, which was disappointing. At the time, CEO Jim Farley said “we should have done much better last year,” adding that “we left about $2 billion in profits on the table that were within our control.”
“That was a really bad miss,” Cramer said. “And Jim Farley has to make this quarter. I'm selling this now.”
In contrast, Tesa reported higher-than-expected earnings for the fourth quarter. In addition, CEO Elon Musk said that as of January 25, the company received orders almost twice as much as it could produce in all its factories. They were “the strongest in our history,” he said.
© 2023, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
