After reviewing Tesla's earnings, CNBC's Jim Cramer on Thursday criticized CEO Elon Musk and told investors why he thinks the electric vehicle giant has lost its spot among the "Magnificent Seven" tech stocks.
"As someone who was among the first to vocalize the Magnificent Seven rubric, I officially acknowledge now that there are only six left," he said.
Tesla's Wednesday report missed Wall Street's expectations and warned of a slowdown in 2024, sending its stock plummeting, down 12% by Thursday's close.
Cramer also criticized Tesla's leadership, saying top management of great companies show they're committed to the success of their enterprise.
"Oh, thank heavens, you don't have a Magnificent Seven CEO who might go bonkers and, more important, what if he doesn't get his 25% voting power?"
Persons:
CNBC's Jim Cramer, Elon Musk, vocalize, Tesla's, Thursday's, Cramer, Tesla, — Apple, Musk, they're, doesn't
Organizations:
Nvidia, Microsoft