Photo: CNBC
As Tesla continues to climb its way upward year after year, one analyst is noting how the auto manufacturer’s stock is a great pick for this year.
In a new new segment of CNBC’s Mad Money shared on Thursday, Cramer called Tesla his top pick for the category of the most investable manufacturers.
In the video, Cramer said, “It’s been years since American companies could make a car that rivals with the Germans and the Japanese put together.” Cramer later added, “Elon Musk has made his company into the best electric vehicle maker in China and Germany too.”
Later in the video, Cramer mentioned that the “U.S. has auto bragging rights” now, as a result of Elon Musk and Tesla.
Tesla shattered Q1 earnings expectations from Wall Street this year, and with its new Gigafactories in Berlin, Germany, Austin, Texas and its years-old facility in Shanghai, China, the automaker is well-poised to continue on the same trajectory.
Cramer also went on to talk about how the price of steel coming down in recent years has helped Tesla secure their spot as the dominant manufacturer in the EV.
Shares of Tesla are up 0.65% as of writing, trading at $1,015.34.
You can watch Cramer’s full segment on CNBC‘s Mad Money below, complete with a number of other stock picks besides Tesla.
