TECH - Ross Gerber Blames Elon Musk's 'Toxic' Behavior For Tesla's 'Crappy' Q1 Sales Calls For Board Shakeup | Benzinga
Gerber Kawasaki Wealth and Investment Management CEO Ross Gerber on Tuesday slammed Tesla, Inc. (NASDAQ: TSLA) CEO Elon Musk for the company’s dismal first-quarter performance.
What Happened: "Basically Tesla can’t sell its cars due to Elon’s behavior. Let’s stop blaming the Houthi rebels or German environmental terrorists. Or a recession that never came. Or interest rates,” Gerber said. "Only one person [is] responsible for this,” he added.
Gerber-led firm’s flagship actively-managed exchange-traded fund AdvisorShares Gerber Kawasaki ETF (NYSE: GK) holds 3,000 Tesla shares, valued at roughly $500,000. The stock has a portfolio weighting of 2.37% in the ETF.
Gerber has turned markedly bearish on Tesla amid the company’s recent travails.
The fund manager warned of a downward rerating of estimates in the wake of the first-quarter deliveries miss. "Now the analysts will take the hatchet to 2024 and 2025 EPS estimates for Tesla,” he said.SresS
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