Jim Cramer Couldn’t Blame Anyone Who Held These Two Elon Musk Stocks Ramish Cheema Sat, September 12, 2026 at 3:58 AM PDT 4 min read TSLA SPCX Cramer discussed Tesla, Inc. (NASDAQ: TSLA) and Space Exploration Technologies Corp. (NASDAQ: SPCX ) in the context of the firms CEO, Elon Musk. The CNBC TV host has discussed the billionaire executive multiple times over the past couple of months and has praised him for his forward thinking. Specifically for Tesla, Inc. (NASDAQ:TSLA), he agreed with Musk about the firm being a robotics and AI company instead of being a car company. In his morning appearance on September 3rd, Cramer maintained his opinion about the executive: "Yeah, but at the same time if anyone owns it, I don't blame them. Because, I was out with someone who is a really great business person. And I said what do you think about Elon Musk. And he, paused. Everyone pauses because there's certain aspects of him that they befuddle you, a kind word. And then he said, eh, greatest businessman of our time. And I think that that's why, people are in SpaceX. Or they're in Tesla. And I don't blame or criticise anyone who's in these stocks. Because this man is well ahead of everybody else in the way he thinks." For Tesla, Inc. (NASDAQ:TSLA), the debate is whether the growth is justified by the lack of profitability. For the latter, the firm has had a couple of tough quarters. During the second quarter, Tesla, Inc. (NASDAQ:TSLA) reported $0.33 in non-GAAP earnings per share which marked a 17.5% annual drop. Similarly, the firm's free cash flow sat at negative $1 billion while its operating margin marked a 270 basis point dip to 1.4% and operating income dropped by 57% to $398 million. Jim Cramer Explains Why Merck (MRK) Is His Fantasy Defense Stock Consequently, the firm's capital expenditure for its AI initiatives, robotics and ridesharing programs were called into question in the context of headwinds in case the firm misses autonomy timelines or faces regulatory risk. Additionally, Tesla, Inc. (NASDAQ:TSLA) has also experienced a near wipe off of revenue from regulatory credits, which previously were pure profit for the firm. Yet, while the credits might have dried up, Tesla, Inc. (NASDAQ:TSLA)'s margin-heavy full self-driving (FSD) assisted driving platform subscriptions jumped by 56% annually to sit at 1.48 million. Looking at Space Exploration Technologies Corp. (NASDAQ:SPCX), the dependence of the narrative on growth is even sharper. With the firm trading at close to a $2 trillion valuation and more lockups due for expiration in December, the firm has to deliver with its AI ambitions and Starship next-generation rocket to satiate investors. On the growth front, Space Exploration Technologies Corp. (NASDAQ:SPCX)'s second quarter revenue marked a 92% annual growth and its net loss of $541 million was an improvement over the year ago figure of $1 billion. Story Continues Space Exploration Technologies Corp. (NASDAQ:SPCX) also reported a $47.5 billion backlog which provided critical visibility into the...
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