Elon Musk admits he's having 'great difficulty' running other businesses

Elon Musk continuing to face heat over his work with Doge the Tesla founder getting candid in a one-on-one interview with Larry cudow you giving up your other stuff I mean what are you how are you running your other businesses I with great difficulty um yeah I mean but there's no turning back you're saying I'm just here trying to make uh government more efficient uh eliminate waste and fraud and so far we're making good progress Tesla taking a hit over elon's dealings with Doge with the stock falling nearly 30% over the last month but it's not

just a stock Tesla charging stations set a blaze in Massachusetts over the weekend this person threw a Molotov cocktail at a Tesla dealership in Oregon and not to mention protests outside of Tesla dealerships around the country and what about this wild statement I mean Tesla has been overvalued analyst believe for years it's sort of a meme stock people are investing in sort of the genius of Elon Musk that's obviously been shattered over the past couple months a meme stock really huh president Trump coming to must defense saying the radical left lunatics as they often do

are trying to legally and collusively boycott Tesla one of the world's great automakers and elon's baby in order to attack and do harm to Elon and everything he stands for Trump goes on to say he'll buy a Tesla in support of Elon but musk connection with Doge doesn't seem to be the only drag on the stock Tesla deliveries slid last year both in the US and globally thanks to cheaper competitors in China so what is the path forward for Elon Musk and Tesla welcome to the big money show hour two I'm Brian brenberg and I'm

joined by co-host Taylor rigs D McDonald Jackie d'angeles and for the hour slat Stone wealth chief Market strategist Kenny pocari welcome to everybody Kenny special welcome to you I go to you first on this one what when you look at Tesla and musk and you look at the government involvement and people trying to light a stuff on fire what do you make so well well the lighting the stuff on fire and and damaging I I think that stuff is ridiculous and those people should be taken care of separately but you know I think this is

a moment that Elon Musk has to make a decision right I I understand he's at Doge I understand he wants to do that and I think that's great but there needs to be a strategic advance of somebody at Tesla to kind of take over right there's got to be people at Tesla that they can that they can Elevate and put in charge obviously he can't do it all and he said it to that point to Larry said it's been very difficult and so what he should do is he should make a he should make a

choice and Elevate somebody that can at least appear as if they're taking over for him right now I like the stock I don't think it's a meme stock I wouldn't be surprised to see it though it's rallying today I know but I wouldn't be surprised to see if it trades back down to test that 180 level if you go back and look on the chart that's a level where had been resistance then it then it pierced above it and it came down and tested it it rose again and now it's going to test it again

I think give me some fundamentals on Tesla okay you got the politics but you're you're Miss you're Miss misss fundamentals fundamentals oh oo an upgrade from a Miss to a misss look at that um so look I think we know the definition you guys of a meme stock is there usually aren't analysts who write about sales revenue profit when it comes to let's say GameStop for example Morgan Stanley a week ago just names Tesla as their top pick with a $430 price Target Dan Ives over at wed Bush raises his price Target to a 550

um again reiterates that call this morning despite the selloff because there are fundamental stories now I will say Brian some of those fundamental stories are weakening Tesla deliveries last year down 7% EV deliveries in the rest of the market up 25% in Germany where Trump's been involved in some the elections Tesla registrations last month were down 76% so in a capitalist Market people can respond and if you don't like Elon Musk and you choose not to buy a Tesla fine but Kenny actually to your point this was interesting another analyst wrote the same this morning

that they're looking for a little bit more balance when it comes to Elon Musk because they haven't seen any signs of musk at a Tesla Factory since the election they haven't found him in two months and the perception is now the reality in the sharers that he is in Washington which is a good thing but if you are loving the company and invested in the company you need someone on a factory floor they just haven't seen him there yeah I think there's some other things happening to the stock I I hear everything that you're saying

and some of these Bulls um that still think Tesla's going to move higher I think this is the same thing that happened to president Trump when he was persecuted in court they were trying to take him down I think you've got a lot of people a lot of famous people with money that are saying I don't want my Tesla anymore the tow truck's going to take it you've got people who are pushing this stock down I don't necessarily think that it's not cuz you know he's not there and he's not at the helm and he's

not running the company I think they want to see Elon Musk um because he is part Ed with President Trump not succeed in his Endeavors um and with respect to the Joe Scarboro clip um half the Democrat platform was e okay so for him to sit there and say that this is a meme stock and that there's nothing behind it and there was no reason for this stock to move I mean they spent billions and billions of taxpayer dollars on electric vehicles which we're not ready to sort of get to that next level and I

think people will buy this stock because at some point EVS will get good enough where where people can um adopt them but I think ultimately for them to sit there and now you know basically flush EVS down was kind of half telling the truth actually when about EVS that was a tell me you're a without saying I'm a that and it was it was hundreds of billions of dollars just in the inflation reduction act and then on top of that essentially ripping up the regulations for automobile emissions to force Americans to buying these Auto these

cars I'm curious because Elon Musk has a much bigger public profile right now that if people you know there's been so much written you talked about the legal Warfare against President Trump there's been so much written about you know driving my EV my Tesla is like um it's like a big Maga hat now but what about the people who never before even considered buying a Tesla who might now again it's the almost 80 million Americans right who may who may wait so you're what you're saying is it's like the the left-wing liberals were driving Teslas

and you're saying now it's going to like the different 70 million people are going to start driving you guys seen wild those stickers where they have on their Tesla I bought this before I figured out Theon musk was crazy and then that's a bumper sticker it is people have it on their Teslas to tell the world I don't believe in Elon Musk I got this Tesla five years ago but when Trump coming out and saying this morning he wanted to buy a Tesla that's sort of putting your money where your mouth is now one Tesla

isn't going to move the market but it's a show of for I do D I think you bring up a great point I do wonder if you see a total shift in the in the addressable Market well you know they all they all the farle all ran out during the whole EV thing saying look at I'm I'm green I got this tester I'm so excited they were in love with him and now you know they're trying to turn the tables I it's ridiculous maybe he could make a hybrid and you could get that New Market

the I just I don't think I don't think folks in the right want to give up gas just yet for very good reasons actually that's my problem with trying to change the market well you don't give up your internal combustion you get the electric car for for local stuff that's a lot of money for the short H hear you goly maybe Elon mus can actually develop a real pickup truck rather than that cyber truck thing that looks sort of kind of like a DeLorean I've been seeing more of those on the road those are everywhere

right um that's an expensive short Hall car 100% not a lot of folks with 100% it's the Cheryl Crow video of her loading that Tesla loaded on the flatbed and she's like I'm giving money to NPR when in the video it was fall it was last it was around the time of the election that that car was loaded on the flatbed it was not taken care of it was covered in dust so it had clearly been sitting in her garage and she took a photo of herself when she voted last around the election day a

few days before election day and she was clearly sitting in a Range Rover or a Land Rover a big hunk in G gas Su foreign made vehicle so good on you sh sure oh and then she had to come out and say well I I did you know I I only put the video out because my the Tesla finally sold and now I can give the money away I was like this postur you bought the Tesla and to posture to show your you know political leanings and now you're selling it all she wants to do

is have some fun Taylor that was really that was a good one just for size and scope I don't know if we have a fiveyear chart you're down to 225 on Tesla Okay so we've wiped out all the election gains we're back down to where we were in October 5 years ago this was a $20 stock so just to put things into p and I'm not here to pump up the market I don't individually on the company but it is a massive leg down on the right but on a long-term basis we're nowhere near 5

years but if you go back and look at the chart you'll see we have periods where the stock gives up 35 to 40% and then it rallies back and it gives it up and it rallies back good historical context