Investing

Cramer, outspoken about Tesla stock and Elon Musk, says he's ready to buy his wife a Model X

Key Points
  • CNBC's Jim Cramer, often a critic of Tesla stock, says he's in the market for a Tesla Model X sport utility vehicle because his wife, Lisa, really wants one.
  • "I give up. The car is too damn great," says the "Mad Money" host after tweeting at Elon Musk: "Had a fantastic ride in the Model X."
  • Over the years, Cramer has been outspoken about the Tesla CEO's genius and his missteps as well as the ups and downs of the stock.
VIDEO1:3401:34
Jim Cramer on Tesla: I know my wife wants to buy a Model X

CNBC's Jim Cramer, often a critic of Tesla stock, said Tuesday he's in the market for a Tesla Model X sport utility vehicle because his wife, Lisa, really wants one.

"I give up. The car is too damn great," Cramer said on "Squawk Box." "She wants an X. You can't stop her. She loves cars."

"We were with some people who had two different ones this weekend," the "Mad Money" host added. "I have to admit it's just an unbelievable experience."

Over the years, Cramer has been outspoken about Tesla CEO Elon Musk, praising his genius as a modern day "P.T. Barnum" and criticizing his missteps, such as Musk's ill-fated "funding secured" take-private tweet in August 2018.

Cramer tries to avoid bashing or recommending the stock because of the blowback from Tesla adherents and Tesla haters on Twitter. Both sides of the Tesla trade inspire visceral reactions, with bulls willing to shell out nearly 60 times forward 12-month earnings for the stock and bears betting against it as one of the most heavily shorted on Wall Street.

On Monday morning, Cramer first talked about riding in a Tesla, and said with a smile, "I'm a bull on Tesla. I have decided my life on Twitter is easier."

"I don't want to defend them. OK. I don't want to defend against them," he added, throwing his hands in the air. "I'm defeated on Twitter."

VIDEO1:3701:37
Cramer: 'I'm a bull on Tesla,' because I want to make my life easier on Twitter

At the time, it was unclear if Cramer was talking about being a "bull" on the stock or the cars — but then in the afternoon, he tweeted at Musk, saying: "Had a fantastic ride in the Model X" and "now my wife insists we buy!"

Cramer, who has had with words with Musk on Twitter in the past, said Tuesday he had not gotten a reply from the Tesla CEO yet. But Cramer said that suddenly he's "man of the year" on Twitter.

"What am I going to do, continue looking at the balance sheet" of the electric automaker? Cramer said. "Everybody in my family wants one. I'm done."

Cramer said he was with a former CFO this weekend who said, "The balance sheet is 'problematic but the balance sheet is being trumped by the experience' behind the wheel of the vehicles."

On Friday, Cramer compared Tesla's new Cybertruck to Ford's failed attempt with the Edsel to create a futuristic car 60 years ago. He came back this week, saying he was surprised that 200,000 people placed a refundable reservation for one but acknowledged the low-risk because it only cost $100.

Cramer said Monday he had put a $300 reservation in for the cheaper Model 3 sedan when it was coming out a couple years ago, explaining further Tuesday, "I got my Model 3 money back," adding his wife "gave up after six months" on the Model 3, which had been plagued by production delays out of the gate.

VIDEO2:0602:06
Jim Cramer: Once Elon Musk stopped tweeting, Tesla started doing better
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Key Points
  • CNBC's Jim Cramer compares Tesla's all-electric Cybertruck pickup to Ford's failed attempt at innovation with the Edsel.
  • The Edsel was heralded as the "car of the future" when it debuted in 1957 but ultimately failed.
  • "I just think it's going to be a bit of a bust," the "Mad Money" host says of the Cybertruck. "I'm calling it the E-Edsel."