Three weeks ago, Commerce Secretary Howard Lutnick encouraged Fox viewers to buy Tesla stock at $235.86, predicting "It'll never be this cheap again."
"If you want to learn something on this show tonight, buy Tesla," Lutnick told the ever-gullible Fox News viewers. "It's unbelievable that this guy's stock is this cheap. It'll never be this cheap again. I mean, who wouldn't invest in Elon Musk?" (See clip below, posted by Daily Kos.)
But, like all Trump-picks, the soothsayer doesn't know what the hell he's talking about, which was made clear this morning when Tesla stocks plunged by 10%, at $214.80.
And, like all glassy-eyed cult followers, Lutnick still stands by his fly-by-night conman, robotically telling CBS last night, "The tariffs are coming. Of course they are. … This is Donald Trump's agenda, and we're all here to help him execute it."
The car manufacturer has seen its shares plummet over 40 percent since the beginning of the year in reaction to Musk's role in the Trump administration and concerns that Tesla is losing ground to competitors in the electric vehicle market.
Musk's multiple public fumbles haven't helped the company's case—the Tesla owner appeared to give multiple fascist salutes on Election Day and is the face of the Trump administration's DOGE task force that has pressured government agencies into firing staff.
Lutnick inferred in the interview with Watters last month that the plunge in Tesla's stock price was merely a dip and that "when people understand the things he's building" the value will rocket again.
It is highly unusual for a Cabinet secretary to recommend individual stocks, even more so when the company in question is run by a White House advisor.
Previously: Tesla stock face-plants after latest Musk meltdown
