Tesla stock is a favorite among retail traders, and a drop set off by the Trump-Musk feud could be a catalyst for a market pullback, Marko Kolanovic said.

Tesla’s stock is driven by sentiment, which has soured greatly. Plus, Musk has now alienated Republicans and Democrats alike.

Investors are cheering signs of a potential truce in the acrimonious feud between President Trump and Elon Musk, and a monthly jobs report which topped estimates.