Investor Ross Gerber of Gerber Kawasaki slammed Tesla Inc. (NASDAQ:TSLA) on Thursday for winding down production of the premium Model S and Model X vehicles as the EV giant shifts towards robots.
Best EV Ever
In a post on the social media platform X, Gerber quoted a post by influencer Sawyer Merritt that shared details about the Model S ‘Signature’ edition. “They are spending money to take this production line down,” he said. Gerber hailed the Model S as the “best EV ever made.”
“It’s so counter productive versus building robots elsewhere. This is just wrong,” the investor said, lamenting the sunsetting of the Model S in favor of producing the Optimus Humanoid Robot.
Elon Musk On Optimus V3, Unsupervised FSD
Elon Musk, when asked about the unveiling of the Optimus Humanoid robot, shared that its reveal would be closer to its production timeline of July and August. “We’ve found out our competitors literally do a frame-by-frame analysis and copy everything we’re doing,” he said.
Musk also shared that cars equipped with the Hardware 3 (HW3) chip would not be able to achieve Unsupervised Full Self-Driving (FSD). However, Musk had shared that Tesla could offer to change the HW3 cars’ chips to HW4 and upgrade the cameras.
TSLA Valuation
Investor Gary Black of The Future Fund LLC shared that he expected Tesla’s valuation to decline following a slowdown in its self-driving progress. He also shared that Tesla’s $25 billion Capital Expenditure was expected, given its pivot towards Robotics.
According to Benzinga Edge Rankings, Tesla offers satisfactory Momentum, but poor Value. It provides a favorable price trend in the Long term.
Price Action: TSLA declined 3.56% to $373.72 at market close on Thursday, further declining 0.14% to $373.18 during the overnight trading.
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