CNBC’s “Mad Money” host Jim Cramer gave his insights on Tesla Inc. TSLA as the stock observed an over 6% jump following the announcement of increasing the price of Model Y.
What Happened: Tesla’s stock rose following the announcement of a price hike for its Model Y cars, The price increase is expected to come into effect in April.
Cramer commented on the stock’s performance, stating “The stock is reacting positively. … It’s just been the worst stock in the [S&P 500]. Totally understand. Not a fan of it, but not against it,” reported CNBC on Tuesday.
Why It Matters: Tesla, once a high flyer, has seen its stock performance dwindle in 2024. The company, which was among the top EV producers, has experienced a sharp decline in its stock value over the last three months. This decline has occurred…
