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Cramer Compares Tesla Investors To Amazon, Netflix: If You Love The Product, You Love The Stock

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Tesla Inc (NASDAQ: TSLA) CEO Elon Musk was right to say during the company's conference call that retail investors "have deeper" insights compared to some Wall Street analysts, according to CNBC's Jim Cramer.

Tesla Vs. Netflix, Amazon

Retail investors who appreciate Tesla's products ended up "loving the stock," Cramer said on CNBC. A similar trend played out years ago when early Netflix Inc (NASDAQ: NFLX) and Amazon.com, Inc. (NASDAQ: AMZN) customers similarly recognized an investment opportunity in the respective stocks, he said.

In contrast, Wall Street analysts are always trying to "catch up" with Tesla's stock, Cramer said, adding that the most recent example comes courtesy of Bernstein's Toni Sacconaghi with a note titled "It's Hard To Win A Religious War."

"This is basically a messianic situation and you have lapdog retail investors," Cramer said.

Tesla Vs. Bitcoin

Bitcoin maven Mike Novogratz said on "Bloomberg Markets" that Tesla is showing many similarities to digital coins.

The electric automaker's stock is no longer built on any fundamentals; rather, it trades with the philosophy that "any good news is going to shoot it up."

Tesla, much like Bitcoin, is based on a concept that is "so powerful it sucks everyone in," much like a bubble, he said.

At the same time, there is nothing stopping the stock's upward momentum from continuing over time, Novogratz said.

"I got cocky and tried to pick the top of a bubble and I got a black eye," he said.

Novogratz said he is short Tesla's stock and expects to cover his position "without that much pain" in the coming days when shares reverse course.

In the meantime, he said he still loves his two Tesla vehicles.

The stock was trading 10.7% higher at $643.16 at the time of publication Thursday.

Related Links:

Continuing A Run Of Good Fortune, Tesla Posts Second Quarterly Profit

'Exponential Growth': Tesla's Scale, Ambition Hurts Bears After Another Big Quarter

Photo courtesy of Tesla.

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