phil le beau joins us from fremont. and let's talk about no bounce on the stock off an event like this. >> no bounce off the market bounce like this is disappointing. technically the stock did what we thought it would do. the fact it held 220 and i thought it would take out the $290 level. and i thought by now we would be trading north of $300. so how do you trade tesla here and now. pete will tell you correctly you do it through options but if you are long on stock, i still believe $220 is the line in the stand. >> carl lynn rich from oppenheimer has a buy rating on the stock. great to have you with us. $340 price tag so you are pretty bullish on the stock at this point. in terms of execution, is there any risk going into the final quarter, when finally it is making two cars at one time, are you concerned that when it goes full capacity to factory there may be some issues? >> i think there will be issues and i think that is built into the expectations for the company and our expectations for the stock and in the final

phil le beau is live on-site there. what is the latest. >> the latest is out of washington where the house energy and commerce committee has announced in the coming weeks it will begin congressional hearings looking into the emission issue regarding volkswagen. here in brooklyn because the ceo of volkswagen will be here for the unveiling of the latest version of the passat. michael horn is here at a time when the company is not selling the current models that are in showrooms. let's remind people what happened over the weekend. volkswagen telling the dealer to stop selling models because of the emissions investigation. those models being 2009-2015, beetle, golf, jetta and audi a-3. and only clean diesel models which is about a fourth of what they sell and the clean diesel versions of the passat, model years 2014 and 2015. over in germany, the ceo winter kor november said i am personally deeply store -- sorry that we have broken the trust of our customers and our public. they try to get a better foot hold here in the uni

phil le beau is here with more. good to see you, phil. >> it has been a busy day, people following volkswagen and the ceo martin winter korn. his contract is up on thursday and the board is meeting tomorrow and on friday. there is great speculation, especially in europe, that the board will say, thank you, martin, it is time for you to move on and somebody else to take over the company. and that is as we see the investigates continue to mount. you have the d.o.j. and state attorney generals are looking into what is happening with the emissions issue. and you have foreign governments investigating what is happening. and you've got -- oh, the environmental protection agency. they started it all. and that is the reason why we look at shares of fiat. it is continuing to be under pressure. in europe folks are saying wait a second, diesel is a huge part of the market, what will happen given the fact we have 11 million engines with a software issue and you have $7.2 billion charge in the third quarter. >> is there any thoug

cnbc's phil le beau. >> what happens next. are you driving a vehicle no longer in compliance with air rules. will you get a new vehicle. will the engine be modified. >> reporter: so many unknowns. volkswagen has apologized and is promising swift action. until then, drivers like nate silver are sitting idle. >> i'm waiting to see what they do to fix the problem. >> reporter: at the woodland's volkswagen location, they are not waiting. this year's effected models have been moved off the showroom floor to the back of the lot. janet shamlian, nbc news, houston. >>> we're back in a moment to pay a tribute to a legend who was as famous for his word play as his play on the field. woman: my mom and i have the same hands. same eyes. same laugh. and since she's had moderate alzheimer's disease, i've discovered we have the same fighting spirit, too. that's why i asked her doctor about new once-a-day namzaric™. vo: new namzaric is approved for moderate to severe alzheimer's disease in patients who are currently taking, and can continue to

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the first delivery of the model x is happening tonight and phil le beau is on the scene with the detailsust announced something that could have other investors nervous. we'll tell what you that is later on. >>> but first tonight's largest story. the largest stock in the s&p