Ross Gerber Says Elon Musk A 'Negative' For Tesla Stock, Trump's Win Proved 'Not Good At All' For Company

Ross Gerber, the co-founder and CEO of Gerber Kawasaki Wealth & Investment Management, said successful an interrogation with Schwab Network past period that Musk's estimation is 1 of the factors negatively impacting the institution owed to the executive's governmental affiliations.

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Gerber said that consumers request to "feel good" astir buying a Tesla, but currently, concerns implicit governmental associations and the hazard of antagonistic attraction are hurting lawsuit sentiment. He said consumers bash not privation to beryllium progressive successful the controversies related to the company, and the "fear" of however radical volition look astatine you if you are driving a Tesla car is impacting the company.

"We inactive ain a batch of Tesla. I emotion the company, but the woes look to conscionable support adding up, and the banal has travel backmost to world due to the fact that the Musk affirmative has been offset present with Musk negative," Gerber said.

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Robo-Taxis Not Enough to Ignite Growth

Talking astir Tesla's financials, Gerber said the institution doesn't "look good" successful presumption of technicals and fundamentals, arsenic it's going done marque and execution issues. He believes Wall Street's net estimates for Tesla are inactive precocious and are tied to robots and robo-taxis. Gerber called these "moonshot" projects and said Tesla needs to absorption much connected selling vehicles to consumers:

"The maturation isn’t predicated connected selling robots oregon robo-taxis. Its maturation is predicated connected selling vehicles to consumers," Gerber told Schwab Network. "So, you know, these projects successful immoderate ways similar moonshots are similar large opportunities for Tesla that I don’t deliberation they should not do, but they should beryllium addressing the conveyance marketplace that made Tesla what it is.”