“You gotta own TSLA in your portfolio with Elon re-focused on Tesla,” says a big investor of the company. After uncertainty in recent months, his firm has resumed buying again.
Ross Gerber is the co-founder and CEO of Gerber Kawasaki Wealth and Investment Management. His firm owns 420,000 shares of Tesla, worth about $74 million based on the current share price. He recently competed for a seat on the manufacturer's board of directors, as he wanted to have a direct impact on the company's development decisions. He recently gave an interview with Phil Rosen, in which he spoke to his attitude towards Tesla after the company’s annual shareholder meeting and recent appointment of a new Twitter CEO.
Gerber had positive takeaways from the annual shareholder meeting, which took place on May 16 at Giga Texas. He is encouraged by the positive attitude of Tesla's CEO Elon Musk, who seemed happy to him.
“Elon had his mojo back. Seeing his energy and enthusiasm, him being around the people who love him and he loves, you can see he's clearly happy,” said Gerber.
The head of the investment firm was also pleased with the information Musk shared. Specifically, the Tesla CEO talked about the business plan, affordable car model, Cybertruck, and full self-driving (FSD). In addition, Gerber praised what Musk said during an interview with CNBC, which took place immediately after the meeting of shareholders.
“He came out swinging pretty hard with the business plan, $25,000 car, Cybertruck, self-driving—then he followed it with a mainstream media interview, which he killed,” he said. “It was literally the best PR day for Tesla since the Twitter disaster began.”
Gerber is also pleased that Musk has appointed a new CEO of Twitter, which came just days before the shareholder meeting. He noted that after Musk did this, his firm went back to buying shares.
“You gotta own Tesla in your portfolio with Elon re-focused on Tesla,” Gerber said. “Over the first quarter, I was a net seller. I went from 440,000 shares to 420,000, but now I'm back to a buy,” he added. “I went from a hold and somewhat bearish, to a buy and somewhat bullish. The only thing keeping me from outright bullishness is the broader economy.”
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.