As Tesla, Inc. TSLA shares remain downbeat, CNBC Mad Money host Jim Cramer, who thinks the electric-vehicle giant could be the first to fall out of the “Magnificent Seven,” ended up including it in the list of potential next trillion-dollar companies. But he also suggested the stock might be getting a lift from a mystery buyer.
What Happened: On Monday’s Mad Money episode, Cramer noted Tesla’s market capitalization is plateauing around $635 billion. He speculated that a “big portfolio manager” might be buying to stop the stock from falling further, acknowledging the unusual nature of such a move.
“It does feel like some big portfolio manager….has decided to make a stand, not letting it to go any lower. I know it sounds strange, but that’s almost conspiratorial, right but that’s how Tesla trades,” he said.
“There could be a Cathie Wood imitator out there buying Tesla, not letting it come down, not caring if…
