As Tesla’s stock reached a new low Monday, investors revisited what Donald Trump‘s commerce secretary Howard Lutnick commented about Tesla stock a month ago. Last month, Tesla stock plummeted owing to the global protest against Elon Musk because of his influence in the Trump administration. Thousands of Tesla vehicles were set on fire in a global Tesla Takedown program. At that time, Lutnock said Tesla shares would not go down below this point and hence everyone should buy Tesla shares. But on Monday Tesla shares dropped to $214.80 down from $235.86 when Lutnick made his remarks.
“I think if you want to learn something on this show tonight, it’s buy Tesla,” Lutnick told on Fox in March, urging viewers to put their money in the company of a Trump administration employee.“It’s unbelievable that this guy’s stock is this cheap,” Lutnick said and added that Muyis the best person to bet on.
The value of Tesla opened at $223 per share on Monday. It vascillated throughout the morning, rising to about $244 per share by 10:15 a.m. By 11:30 a.m., it had dropped back down to $225 per share and remained around $227 per share by noon. By 1 p.m. ET, it had leveled out at about $228 per share.
What does Elon Musk think of Trump tariff?
Elon Musk has distanced from Trump’s tariff and publicly countered Trump’s trade adviser Peter Navarro, calling for zero-tariff deal with Europe. “A PhD in Econ from Harvard is a bad thing, not a good thing,” Musk wrote about Navarro reacting to a post on X.
Musk then pitched for a zero-tariff situation between the US and Europe, though Trump has imposed a 20 per cent tariff on the European Union. “I hope it is agreed that both Europe and the United States should move ideally, in my view, to a zero-tariff situation, effectively creating a free-trade zone between Europe and North America,” Musk said.
Navarro reacted to Musk’s comments and said Musk is speaking as a car-seller as his business interest has been hurt. “The thing that I think is important about Elon to understand is he sells cars. That’s what he does,” Navarro said.
