Elon Musk, Tesla and Trump
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CNBC's 'Squawk on the Street' crew discuss Tesla as the electric carmaker's stock was hit with several downgrades since the Trump-Musk fallout.
Baird downgraded shares of Tesla from "Buy" to "Neutral," saying the Musk-Trump spat has led to more uncertainty and the potential for brand damage.
Tesla’s stock was recently right around the price at which it closed the session before a spat between CEO Elon Musk and President Donald Trump culminated in a one-day drop of about $150 billion in Tesla’s market value.
Tesla stock is highly volatile and some investors are worried about competition. Meta Platforms is the leader in social media and digital advertising, and both industries are in growth mode. Nvidia continues to report stellar growth and rising profits.
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Tesla Inc dropped 14% in a single day yesterday, representing one of its most significant one-day falls in the past few years.