CNBC's Jim Cramer joins 'Fast Money Halftime Report' to discuss if the stock market is overvalued and what stocks to watch. CNBC’s on Wednesday laid out a group of big-name stocks that are worth buying at current levels, even as investors contemplate whether the overall market is reaching a top.
The major indexes were practically flat in Wednesday trading but remain near their highs. He laid out a case for owning ahead of its quarterly report, and , the latter two having reported quarterly a day prior.
“They explain how you can justify believing in a couple of high-profile stocks and how it’s not all that much of a leap of faith when you consider the pros as well as the cons,” the “Mad Money” host said. That’s what “makes me a believer. It’s why I don’t want to leave this market ... even as I’d often like to try.”
Tesla the tech stock.
Tesla is a technology enterprise that makes cars, and investors must redefine it as such if they expect to accurately judge the stock, Cramer declared.
“Tesla’s not really a car company, it’s a tech company on wheels. That’s what keeps confusing people,” the host said. “Almost every major automaker now has an electric car, yet almost none of these cars have any demand to speak of at all, except for Tesla.”
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