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Tesla shares have been hit hard due to concerns about CEO Elon Musk's involvement with the Trump administration. It's one of the reasons why tastylive Founder & CEO Tom Sosnoff not only traded in his Tesla, but now thinks the stock is more "middle of the road."
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Tesla finished in the red today, Tom. Although I did have a financial analyst on the show today, still pulled up on that name. Sees green shoots ahead. Your thoughts on Elon Musk company.
So, I trade a lot of Tesla. And the reason I trade a lot of Tesla is not because I love Tesla one way or another. The reason I trade a lot of Tesla is because it is Tesla Nvidia, I'm an option trader and Tesla and Nvidia are the two most active, they they trade the most contracts, they have the best markets and the most actively traded underlying outside of, you know, S&P indexes. So that's why I trade a lot of Tesla. Um I mean Tesla got whacked pretty good today, but you know, Elon Tesla's a self-inflicted wound and Elon um made his bed and he chose a side and he's paying the price for that. I, you know, Josh, it's a weird, Tesla's a weird thing for me. I've driven a Tesla since 2015 and last week I traded in my Tesla for a Lucid. So that should tell you how I feel about Tesla just personally. Um but
And you did and you did that Tom because of the branding, because of the politics?
I did it because of the politics. I did it because I am not I did not want to drive around in a Tesla. I feel like that doesn't um it's it's not what I believe in. It's not it's the reason I bought a Tesla in the first place is I was fascinated by the technology. I've had two Teslas and I love the technology, I loved the car. I thought it was um it was it really it was really a good experience. I think the fun the fun's been taken away from it when Elon decided he just he decided to get political, he decided to take a stand and it kind of, you know, it's a message that I don't want to send driving around in that car. But that doesn't change the way I trade. And if I think Tesla gets cheap, I'll buy it. If I think Tesla's expensive, I'll sell it. And for me, um I think Tesla right now is kind of middle of the road, but I don't think it has the asymmetric upside that it once had. And in fact, I think it has some pot odds risk to the downside and I am I'm definitely not a Tesla bull. I'm a Tesla premium seller if I'm anything else, but um you know, listen, he he made a choice and you know, that's you get what you get.
