Tesla Needs 'Real CEO' To Reverse Recent Stock Decline, Says Long-Time Investor Ross Gerber: '...Or Elon Changes His Tune And Actually Comes Back To Working'
Portfolio Pulse from Benzinga Neuro
Ross Gerber, a significant investor in Tesla Inc (NASDAQ:TSLA), has suggested that Tesla's recent stock decline could be reversed by a change in CEO Elon Musk's behavior or his replacement. The stock has fallen over 36% this year due to poor earnings, a lackluster product lineup, and broader market challenges. Wells Fargo downgraded Tesla's stock with a price target of $125, citing a 'growth company with no growth'. Despite this, Dan Ives of Wedbush Securities predicts a 77% rebound in Tesla's stock within the next 12 months, suggesting improvements to Musk's compensation and share control as solutions.
March 15, 2024 | 2:17 am
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NEUTRAL IMPACT
Tesla Inc's stock has suffered due to underwhelming earnings, a lackluster product lineup, and broader market challenges. A change in leadership or Elon Musk's behavior could potentially reverse the stock's decline. Wells Fargo downgraded Tesla's stock with a pessimistic outlook, while Dan Ives of Wedbush Securities remains optimistic about a significant rebound.
The article directly discusses Tesla's current stock performance issues and the potential for reversal with changes in leadership or Elon Musk's behavior. The mixed views from financial analysts, with some predicting a significant rebound, make the short-term impact uncertain, hence a neutral score.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100