Investor Ross Gerber, the co-founder of investment firm Gerber Kawasaki, has a lucrative business proposal for Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk following the EV giant’s stock decline and mobility rollback.
Elon Musk Should Consider Selling EVs Again
In a post on the social media platform X, Gerber took a swipe at Musk’s push towards AI and chip manufacturing, while putting the development of new EVs on the back burner. “Maybe Tesla should consider selling EVs again…. It’s a wonderful business,” the investor said in his post.
TSLA Stock Movement
Tesla has been volatile over the past month, but the stock has seen a double-digit percentage decline. Since May 26, the stock has fallen more than 13%, with the stock declining close to 6% since June 18.
During the last month, Tesla reached a high of $442.10 per share. The EV giant traded for $374.40 per share during the after-hours trading session on Thursday, declining 0.19%.
Ross Gerber Backs Slate Auto
The investor recently expressed his admiration for billionaire Jeff Bezos-backed Slate Auto, a company that touted its modular, ultra-customizable EV pickup truck, which provides a range of 201 miles in its blank Slate guise.
“People will totally love this truck,” the investor said in one of his posts on X, hailing Slate’s novel approach for the truck, which will retail for close to $25,000 for the base variant.
Tesla’s New Vehicles
Notably, Tesla was reportedly mulling developing an affordable EV, with the vehicle targeting the Chinese market, but could possibly also be sold in the U.S.
Musk had earlier hinted at another possible new model being developed by the EV giant; two possible new models for Tesla could significantly boost its aging lineup, which comprises the Model 3, Model Y and the Cybertruck.
Gary Black Dismisses Robotaxi Rumor
Investor Gary Black of The Future Fund LLC dismissed rumors about Musk deliberately holding Tesla’s Robotaxi ramp back in a bid to induce a merger with Space Exploration Technologies Corp. (NASDAQ:SPCX) following the company’s blockbuster IPO that raised close to $86 billion.
According to Benzinga Edge Rankings, Tesla provides excellent Growth, but poor Value and Momentum. It also provides an unfavorable price trend in the Short, Medium and Long term.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo courtesy: Mijansk786 on Shutterstock.com
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