Longtime Tesla Bull Ross Gerber Unloads $60M In EV Giant's Shares, Cites Declining Confidence: 'Nobody Wants A Robot From Elon Musk'
Portfolio Pulse from Benzinga Neuro
Ross Gerber, a longtime Tesla investor, has sold $60 million worth of Tesla shares, citing declining confidence in the company's ability to meet sales goals and skepticism about its robotics and self-driving technology. Despite this, his fund still holds a $50 million stake in Tesla. The stock has fallen over 15% this year due to various challenges, including increased competition and Musk's legal issues.
August 28, 2024 | 2:33 am
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Ross Gerber, a significant Tesla investor, has sold $60 million in shares due to declining confidence in Tesla's sales goals and skepticism about its robotics and self-driving technology. This move reflects broader investor concerns, contributing to Tesla's 15% stock decline this year.
Gerber's sale of a significant amount of Tesla shares indicates a lack of confidence in the company's future performance, particularly in meeting sales goals and the viability of its robotics technology. This sentiment is echoed by other investors, contributing to the stock's decline. The news is highly relevant and important for Tesla investors as it reflects broader market concerns.
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