March 14, 2024 5:18 AM | 3 min read
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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.
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“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.
“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.
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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.
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.
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“Benzinga’s Top Stocks to Buy Today”
There’s only two mistakes you can make when investing. One is not investing at all. The next is buying the wrong stocks. Get an edge on which stocks to buy with the Benzinga Insider Report, our best weekly stock report sent right to your inbox. Act fast and secure our top stock picks at an unbelievable discount! Claim This Limited $0.99 Offer NOW!
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