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.

Traders dumped Tesla after Musk quickly responded to Trump's criticism with social media posts that stepped up criticism of the president's tax bill.

Tesla shares rebounded Friday, a day after the electric vehicle maker tumbled 14% as the relationship between CEO Elon Musk and President Donald Trump looked to be fraying.