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Tesla’s stock hit a fresh low on Monday, leaving investors scratching their heads and looking back at a bold prediction made by Howard Lutnick, former Commerce Secretary under Trump. A month ago, Lutnick was singing the praises of Tesla, urging everyone to jump on the bandwagon—before the stock took a nosedive.
Lutnick’s Bold Prediction Falls Flat For Tesla
Back in March, Lutnick told Fox viewers, “I think if you want to learn something on this show tonight, it’s buy Tesla.” He confidently claimed that Tesla’s stock wouldn’t dip any lower, calling it “unbelievable” that it was so cheap. “Muyis is the best person to bet on,” he added, boosting his faith in the electric vehicle giant. Fast forward to Monday, and Tesla stock was down to $214.80, a sharp drop from the $235.86 mark when Lutnick made his now-famous comments.
Tesla’s Rollercoaster Ride
The day started with Tesla shares opening at $223, and it didn’t take long before things got bumpy. By mid-morning, the stock climbed to $244 per share, only to fall again by lunchtime, stabilizing around $228 per share. Investors were likely hanging on for dear life, wondering if Lutnick’s prediction would turn out to be as reliable as the stock’s unpredictable rollercoaster.
Musk Takes on Trump’s Tariffs
As if the drama around Tesla’s stock wasn’t enough, Elon Musk has also been busy taking on the Trump administration’s trade policies. Musk, ever the contrarian, publicly countered Trump’s trade adviser Peter Navarro, calling for a zero-tariff deal between the US and Europe. “I hope it is agreed that both Europe and the United States should move ideally, in my view, to a zero-tariff situation,” Musk wrote on X.
Navarro didn’t take kindly to Musk’s remarks, suggesting that the Tesla CEO is just looking out for his own business interests. “The thing that I think is important about Elon to understand is he sells cars. That’s what he does,” Navarro quipped.
It’s clear that while Lutnick’s prediction didn’t pan out, Musk’s voice on tariffs is as loud as ever—mixing business with politics in true Tesla fashion.
