Shares of Tesla (TSLA) are down over 25% since the start of 2024 amidst declining EV delivery growth. Analysts at Daiwa Capital Markets downgraded Tesla stock to Neutral from Outperform with a price target of $195, down from $245 due to mounting issues with Tesla CEO Elon Musk.
Gerber Kawasaki Wealth & Investment Management CEO Ross Gerber — a Tesla investor himself — joins Yahoo Finance to discuss Tesla’s performance and how he feels about Musk’s position as CEO.
“The cost of Elon’s behavior is really hurting shareholders and it’s really unfortunate because the reason we’re holding the stock is the long-term potential of Tesla is immense. So, you know, it’s this catch-22,” Gerber explains.
Gerber says that “Elon is eroding the value of the brand” and that Musk needs to “shut up” and stop “railing” on immigration issues.
Editor’s note: This article was written by Nicholas Jacobino
