ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

https://dailyalts.com/wp-content/uploads/2020/01/screenshot-www.tesla_.com-2020.01.16-17_57_26.png

Larry Fink’s emotionally charged plug for ESG ticks all the investment boxes for Tesla.

According to Cramer, electric car maker Tesla could be a beneficiary of BlackRock’s new-found love for everything ESG.

BlackRock CEO Larry Fink warned in his annual letter to investee CEOs, titled “A fundamental reshaping of finance,” that “climate change has become a defining factor in companies’ long-term prospects,” and that markets have been slow to reflect the growing global concerns on climate change.

Larry Fink: Upheaval from reallocation of capital

“Because capital markets pull future risk forward, we will see changes in capital allocation more quickly than we see changes to the climate itself,” Fink wrote. “In the near future – and sooner than most anticipate – there will be a significant reallocation of capital.”

In an interview with CNBC, Fink said this shift in the financial markets would be unlike any of the crises he had seen in his career of 40 years. Further, it would be one where there would be no Fed to lend support.

“I believe in science. But I did not write it as an environmentalist. I wrote the letter as a capitalist,” Fink said in the interview. “My job is, as a capitalist, to help prepare our clients for the redistribution of capital. And more importantly, through that is to provide them with an investment portfolio that will outperform.”

Time, therefore, to buy climate-positive stocks?

“If you’re wanting to be in Larry Fink’s dictum, you would sell GM and Ford, which aren’t doing enough versus Tesla, even though they are trying. Tesla is the ultimate Larry Fink stock,” said Cramer on “Squawk Box.”

BlackRock is one of the biggest institutional owners of stock in Tesla. It has a holding of 4.6 million shares, or 2.6%, of the outstanding shares of the EV maker.

Tesla’s shares are in the midst of a solid rally, having doubled since September.

Related Story: 

Alternative Investments: Tesla’s China Strategy Drawn From Ancient Chinese War Treatise, Says Paul Holland                                                 

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/07/equipment-3089883_640-evidation-article.jpg
Venture Capital: Health Data Analytics Platform Evidation Raises $45M
July 2, 2020     News, Venture Capital

Evidation Health’s Achievement platform collects everyday health data for use in innovative research and health platforms. Giving due emphasis to user privacy and controlled, permissioned health data, the platform gathers…

https://dailyalts.com/wp-content/uploads/2020/07/screenshot-www.weforum.org-2020.07.02-18_06_35.png
Artificial Intelligence: A UVC Robot Disinfects 4,000 Sq Ft Food Bank in 30 Minutes
July 2, 2020     Artificial Intelligence, News

MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Ava Robotics, and the Greater Boston Food Bank (GBFB) collaborated on a robotic solution to the problem of disinfecting a large area…

https://dailyalts.com/wp-content/uploads/2020/07/mockup-5288033_640.jpg
Alternative Investments: TrueMark Investments Launches A Structured Outcome ETF That Tracks the S&P 500 Index
July 2, 2020     Alternative Investments, News

TrueMark Investments has launched the TrueShares Structured Outcome (July) ETF (NYSEAMERICAN: JULZ) that offers investors exposure to the S&P 500 price index. The ETF is a “structured outcome” product, the…

https://dailyalts.com/wp-content/uploads/2020/07/india-1748445_1920.jpg
Digital Assets: Crypto Gathers Pace in India After Top Court Decision
July 2, 2020     Digital Assets, News

The Supreme Court of India recently struck down a circular issued by the Reserve Bank of India that barred banks from serving crypto businesses such as traders, exchanges, or others….