After Wall Street balked at Tesla 's highly-anticipated robotaxi unveiling, CNBC's Jim Cramer told investors not to make any moves on the stock.
While he said he wouldn't recommend buying Tesla after Thursday night's event flopped, Cramer discouraged shorting the stock, saying it's "dangerous to bet against" CEO Elon Musk.
While impressed by the look and concept of the robotaxi, Cramer said the event's demonstration lacked substance and failed to prove its technological prowess.
By Friday's close, Tesla stock was down 8.78%, and Cramer said the market's reaction speaks for itself.
"Look, Tesla has a big problem: the electric vehicle market turned out to be substantially smaller than was thought," Cramer said.
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