TECH - Tesla Bulls At Odds After Hertz's EV Selloff: 'Blow' For Musk's Company Or 'Black Eye Moment' For Car Rental Firm? | Benzinga
Car rental company Hertz Global Holdings (NASDAQ:HTZ) has sparked a debate among Tesla Inc (NASDAQ:TSLA) enthusiasts with its decision to sell around 20,000 electric vehicles, including Teslas, from its fleet. The move has led to conflicting views even among Tesla bulls.
What Happened: Wedbush analyst Dan Ives called Hertz’s decision a “black eye moment” for the rental company, but he downplayed the impact on Tesla.
Ives, speaking on CNBC’s “Last Call” show, criticizes Hertz for mishandling the marketing of these electric vehicles and miscalculating the implications of incorporating EVs into its fleet. Despite this, Ives believes the news will not significantly affect Tesla’s short-term sales, considering it a mere “blip on the radar.” He maintains a bullish outlook on Tesla for the year 2024.
On the other hand, Ross Gerber, president of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, sees Hertz’s decision ...