In a bizarre show of support, Howard Lutnick, now serving as the US Commerce Secretary, urged people to buy Tesla stock during a recent appearance on Fox News.
“If you want to learn something on this show tonight, buy Tesla. It’s unbelievable that this guy’s stock is this cheap. It will never be this cheap again when people understand the things he is building,” he said.
Lutnick said people will one day look back and regret not investing in Tesla at today’s prices, saying, “They’re gonna be dreaming of today and thinking, ‘Gosh, I should have bought Elon Musk’s stock.’”
Lutnick’s endorsement comes as Tesla stock has faced sharp volatility in recent months, weighed down by concerns over demand, price cuts, and increasing competition in the electric vehicle market.
Despite these challenges, Musk continues to push forward with AI, robotics, and energy innovations, which Lutnick believes will drive Tesla’s long-term growth.
This endorsement comes shortly after former US President Donald Trump nearly advertised Tesla cars in a public address, praising Musk’s contributions to American manufacturing.
Meanwhile, Tesla has been facing a series of challenges, including recent safety concerns and cyberattacks targeting its vehicles, raising debate about the company’s future.
Also Read: ‘I think Tesla needs a new CEO’: Top investor Ross Gerber calls for Elon Musk to step down
Content retrieved from: https://www.cnbctv18.com/market/us-commerce-secretary-howard-lutnick-endorses-tesla-stock-on-tv-show-19576953.htm.
