Ross Gerber Says Tesla Should Be Seeing 'Rally Period' Now Because Cybertrucks Are Selling 'Left And Right' But Earnings Are Going Down: 'That Needs To Be Addressed'
Portfolio Pulse from Anan Ashraf
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, expressed concerns over Tesla's falling earnings despite increased sales of Cybertrucks and overall vehicles. He highlighted the need for Tesla to address the decline in earnings amidst high sales volumes. Gerber also noted that Tesla is being valued more as a hardware company due to intense competition in China and its failure to achieve autonomous driving. Tesla's stock dropped over 7% following a reported decline in vehicle sales in China for February.
March 05, 2024 | 10:59 am
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NEGATIVE IMPACT
Tesla's earnings are falling despite increased sales, including Cybertrucks, leading to concerns from investors like Ross Gerber. The stock experienced a significant drop following a sales decline in China.
The direct mention of Tesla's falling earnings despite increased sales, including the specific mention of Cybertrucks, and the subsequent stock price drop following sales decline in China, indicates a negative short-term impact on TSLA's stock price. The concerns raised by a prominent investor and the reported sales figures substantiate the potential for continued investor apprehension and stock volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100