Southwest Woes Continue, AMC CEO’s Salary Freeze, Tesla Turnaround? 12/28/22

Morgan Brennan, Scott Wapner and Mike Santoli started the hour by breaking down the ongoing volatility around Tesla. Baird reiterated its “outperform” rating on the stock this morning, but lowered its price target to $252 from $316, the second price cut for Tesla in under a week. The anchors then shifted to the latest troubles for Southwest, as the stock continued to drop amid more flight cancellations. CEO Bob Jordan posted a video a last night, apologizing to his customers for the ongoing troubles saying he is “truly sorry.” Around the bells: they also mentioned AMC CEO Adam Aron asking his board of directors to freeze his salary in 2023 amid the company’s sliding stock price.