Josh Brown says Tesla investor base doesn't care about Musk-Trump feud: 'I wouldn't bet against it'
Ritholtz Wealth Management CEO Josh Brown said Tesla investors will look past the online feud between Elon Musk and President Donald Trump that led to a sell-off on Thursday. Musk, the CEO of Tesla and a key supporter of Trump during his election, exchanged barbs with the president online on Thursday — a shocking turn given their previous allegiance. Shares of the electric vehicle maker tumbled more than 14% on Thursday, but gained more than 5% in midday trading on Friday. "The drama on Twitter is hilarious. Of course, everyone's having a great time," Brown said on CNBC's "Halftime Report," using the former name for social media platform X. "But I think the real story here is the investor base in Tesla literally doesn't care about anything." TSLA 5D mountain Tesla, 5-day Brown pointed out that Tesla is losing market share in most key areas. However, he said investors have decided to think of the company as a robot and automation name with some artificial intelligence work rather than an electric vehicle maker. Investors think "the car sales are only important insofar as they get us to the robotaxi, which is the next trillion-dollar idea," Brown said. "I don't believe that, but that's what the market believes." Brown called the name a "nothing-matters stock," noting that it trades at 120-times earnings. He said investors may use Thursday's sell-off as a chance to buy on a dip. Shares are now down more than 25% in 2025. "It's just incredible how faithful this shareholder base is," Brown said. "I wouldn't bet against it." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
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