Tesla's Strategic Pivot Post-Q1 Gets A Thumbs Up From Ross Gerber, Wedbush's Dan Ives Lauds Elon Musk's Leadership
Portfolio Pulse from Benzinga Neuro
Ross Gerber and Dan Ives have expressed support for Tesla's strategic shift following its Q1 results, despite a revenue drop. Gerber, CEO of Gerber Kawasaki Wealth, is optimistic about Tesla's future, highlighting the difference between being a shareholder and a customer. Dan Ives, an analyst at Wedbush, praised Elon Musk's leadership, especially after Tesla announced plans to accelerate the launch of new, more affordable models. Tesla's shares surged 13.38% in after-hours trading despite a 9% year-over-year revenue drop to $21 billion in Q1, missing estimates.
April 24, 2024 | 4:21 am
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POSITIVE IMPACT
Tesla's strategic shift and new model plans have received positive feedback from notable figures like Ross Gerber and Dan Ives, contributing to a significant surge in its stock price despite a revenue drop in Q1.
The support from high-profile investors and analysts like Ross Gerber and Dan Ives, especially in light of Tesla's announcement to accelerate the launch of new, more affordable models, has likely contributed to investor optimism. This optimism is reflected in the 13.38% surge in Tesla's stock price in after-hours trading, despite the company's Q1 revenue falling short of expectations. The positive reaction underscores the market's confidence in Tesla's long-term strategy and leadership under Elon Musk.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100