Jim Cramer: 2017 Chevy Bolt EV Doesn’t Move The Needle For GM
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Jim Cramer, the mad man behind Mad Money and Wall Street extraordinaire, had some harsh words for General Motors and the upcoming 2017 Chevrolet Bolt EV.
Cramer spoke briefly on camera to The Street, where he was asked if the 2017 Bolt EV moves the needle at GM. Long story short? No.
Cramer explained a car like the Bolt EV is simply following a cumulative trend in the automotive industry and does nothing in particular to push the envelope. While we’d kindly disagree on that matter, since it will be one the most affordable longest-range EV ever produced later this year, Cramer is inevitably looking at the car from a stock standpoint.
And GM’s stock has been performing mediocre at best, falling below its IPO price.
Finally, a blow to GM’s ego, Cramer calls the automaker simply “not cool”, explaining Tesla has that certain it factor to it when it comes to shiny, new electric cars.
Does Cramer have a point? Sound off below after watching the video up above.
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I didn’t think about that until I saw your post.
I don’t think many stock holders think about these type of manipulations to raise their stock price.
Individuals who own hundreds or thousands Tesla share may do this, but how many individuals own hundreds and/or thousands Tesla share ?
I think most Tesla outstanding share are owned by mutual funds and institutional.