There are a number of big headlines that investors are carefully watching this morning, including bitcoin’s tumble and the Tesla deliveries that were announced this morning.
Over the weekend, bitcoin topped $34,000 and this after hitting $30,000 for the first time.
As the cryptocurrency and the larger market sells off Monday, Jim Cramer said he plans to hold onto the bitcoin he has after taking out his cost-basis.
“I bought it more as an asset than a trade,” Cramer said. “I’m not doing anything I wouldn’t do with a stock.”
Cramer added that he would look to buy more bitcoin if ever returns to his entry point of around $14,000.
Tesla very, very narrowly missed its goal of 500,000 deliveries in 2020.
The company announced that it had delivered 499,550 vehicles.
Tesla’s year-end production total was pegged at 509,737 vehicles, the company said, after a 71.4% increase in fourth-quarter figures to a record 179,757, TheStreet’s Martin Baccardax wrote.
Despite the soaring price of the stock, Cramer said he expects President-elect Biden’s focus on EV transportation and the opening of the Berlin gigafactory. “Every time that Elon opens a new market…the stock will go up again,” Cramer said.
“If you don’t own any [Tesla stock], you can still buy some,” Cramer said.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer’s exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.
Daniel Kuhn contributed reporting to this article.