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stock climbed about 5% Friday after threats and insults between CEO Elon Musk and President Donald Trump fueled a $152 billion rout for the company’s market cap a day earlier.
“I think the real story here is the investor base of Tesla literally doesn’t care about anything,” Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor, told CNBC’s “Halftime Report” Friday. “This is still a nothing matters stock.”
Analysts cited a Politico report that Trump had scheduled a call Friday with Musk to broker a truce. However, a senior White House official told NBC News Friday that Trump is “not interested” in a call with Musk.
“Musk needs Trump and Trump needs Musk for many reasons and these two becoming friends again will be a huge relief for Tesla shares,” wrote Wedbush Securities analyst Dan Ives in a note Friday morning. “We will be monitoring the situation closely today but we believe Tesla shares are way oversold on this news.”
