6. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holdings in Q1 2026: 123
Where there was SpaceX, there was Tesla, Inc. (NASDAQ:TSLA), as in this appearance, Cramer recalled the reactions he dealt with at the time of the car company’s IPO. JPMorgan discussed the shares earlier in June as it significantly raised the price target to $475 from $145 and upgraded the rating to Neutral from Underweight. The bank remarked that Tesla, Inc. (NASDAQ:TSLA) was more than a car company. This sentiment has been echoed by Cramer on several occasions as well, with the CNBC TV host pointing towards robotics and other avenues. This time, as SpaceX’s shares were about to hit the markets, Cramer recalled how he was cynical back when Tesla, Inc. (NASDAQ:TSLA) listed its stock:
“Now I was a cynic on Tesla. There was a piece about me. . .I said Tesla you have to wait till it makes money. I caught 96% of the move. But I was still criticized, even like Musk made fun of me. That was one of the days when it wasn’t fun being made fun of by Musk. It was like, oh shoot, I thought I was smart, I feel bad. But the fact is this that, making money was the least important thing about Tesla. Now you still caught the big move if you waited, but it’s just at the beginning people weren’t thinking about that.”
Nightview Capital stated the following regarding Tesla, Inc. (NASDAQ:TSLA) in its Q1 2026 investor letter:
“Tesla, Inc. (NASDAQ:TSLA) remains our largest single holding, representing approximately 13% of the portfolio as of this writing. We are aware that this is a concentration that invites questions, and we welcome them. Our conviction in Tesla is not a function of its near-term automotive results, which remain subject to meaningful cyclical and competitive pressures. It is a function of what we believe Tesla is actually building: an AI and robotics company that happens to currently generate most of its revenue from selling cars. The energy business, the Full Self-Driving platform, and the emerging Optimus humanoid robot program represent option value that, in our view, the market continues to dramatically underprice. We are long-term holders.”
While we acknowledge the potential of TSLA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSLA and that has 100x upside potential, check out our report about the cheapest AI stock.
Click to continue reading and see Jim Cramer Called SpaceX A Meme Stock & Discussed These 5 Stocks.
Disclosure: None. Follow Insider Monkey on Google News.
