Ross Gerber has recently raised questions about the current strategy of Tesla Inc. (NASDAQ:TSLA), highlighting the company’s high valuation and stagnant growth.
What Happened: Gerber took to X on Wednesday to express his concerns about Tesla’s current situation over a series of posts. He criticized the company’s strategy, which restricts their sales to no more than 2 million cars per year, and expressed concern about the lack of advertising and the amount of misinformation surrounding electric vehicles.
“Tesla investors need to face reality,” he wrote.
Gerber also discussed the impact of energy prices on inflation and questioned Tesla’s profitability. While reiterating his appreciation for Tesla and its products, he reminded us that the stock market is assessing its $3 valuation.
Considering trying out virtual dating RN? We got you. Here are some tips to turn you into a video dating pro — instantly.
“Now keep in mind I love tesla and its products but the stock market is the stock market. And the fundamental Tesla story has changed since Twitter and the market is finally revaluing tesla accordingly. I wish I could give you a more positive take,” he concluded.
See Also: Elon Musk Says ‘Of Course’ After Russia Threatens US With Nuclear War If Statehood Threatened
Why It Matters: Earlier this month, Wells Fargo downgraded Tesla’s stock from Equal Weight to Underweight, citing concerns about “disappointing deliveries & more price cuts.”
Wedbush analyst Dan Ives noted the pervasive bearish outlook on Tesla, but he also predicted a significant rebound for Tesla in the coming years.
Are You Taking One of These 9 “Memory Erasing” Prescriptions? [ad]
You may think your memory loss is just a sign of getting older, but one of these 9 drugs could actually be damaging your brain... These 9 prescription drugs have now been linked to Alzheimer's disease diagnoses. If you're over the age of 60, and you're taking even 1 of these 9 drugs, your brain could be at risk. Click here to learn more.
Adding to the downward pressure, a prominent Tesla investor announced his decision to short the stock, citing broader economic factors.
As of Wednesday, Tesla’s stock closed at 168.6, a decrease of 0.52% from the previous close, as per Benzinga Pro.
Photo generated using Midjourney
If you can’t decide whether to get the 2-in-1 Windows tablet hybrid, traditional laptop, or desktop, we’re here to help.
Engineered by Benzinga Neuro, Edited by
Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.
Learn more.
