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Pete Najarian Says He Would Put Tesla Motors Inc (TSLA) In The No Touch Category

Tesla Motors Inc (NASDAQ:TSLA) had a brilliant 2014 amidst all the short interests, during which the stock almost touched $300 mark and hit an all-time high. But, Tesla Motors Inc (NASDAQ:TSLA) had a relatively poor last quarter in 2014, but the stock price is still hovering above the $200 mark. Tesla Motors Inc (NASDAQ:TSLA)’s CEO Elon Musk has been very adventurous with his ideas and comments. Fast Money traders discussed on CNBC about the Tesla Motors Inc (NASDAQ:TSLA) stock and Musk’s concern about Artificial Intelligence.

Elon Musk

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk conducted an online ask me anything interview on Reddit on Sunday night. A question was popped at him about the safety concerns surrounding Artificial Intelligence. This question is significant to Musk, since all the auto makers including Tesla Motors Inc (NASDAQ:TSLA) is eyeing the driverless cars technology in the future.

Musk responded by saying that concerns surrounding AI are very valid and a lot of work need to be done to address the safety related to AI.

“The timeframe is not immediate, but we should be concerned. There needs to be a lot more work on AI safety. And, with all due respect to the Roomba dude, this is not a concern,” Musk was quoted as replying to a question about concern over AI.

Fast Money trader Pete Najarian talked about Tesla Motors Inc (NASDAQ:TSLA) stock and how to trade this stock in days to come. He mentioned that this stock had a lot of options in the past mainly due to the cheap prices and lower volatility, but he feels that this stock is no longer cheap and volatility has increase three times. So he said that he would put this stock in a no touch category.

“[…] We were talking about this many many times and option volumes in there has really been escalating once again and the volatility has been escalating again. I have agreed with these guys for a long time, if you want to play in this name in the past, it was always about options, because they were cheap. They are no longer cheap, volatility is about three times that it once was. I think this is definitely one of those that I would put in the no touch category,” Najarian said.

Disclosure: None

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