Despite Bearish Views, Ross Gerber Says Tesla Stake Remains: 'We've Continued Lowering Our Exposure'
Ross Gerber, CEO of Gerber Kawasaki, confirmed that his firm still holds 235,000 shares of Tesla Inc. despite bearish views and ongoing sales of their Tesla position. Gerber stated they have been reducing exposure over the years but are not exiting entirely. This comes amid significant insider trades at Tesla, including Kimbal Musk selling over $31 million in stock. Meanwhile, Tesla is preparing for its Robotaxi launch, with Elon Musk announcing accelerated testing in Austin.
Gerber Kawasaki's CEO and Co-Founder, Ross Gerber, has said he hasn't dumped his Tesla Inc. TSLA position and that his firm still holds the EV giant's shares despite Tesla insider trades and Gerber's bearish views on the company.
What Happened: "I have not sold all our tesla stock and we continue to hold 235k shares for clients as per our 13f filings," Gerber said in a post on the social media platform X on Wednesday.
However, the investor reiterated that his firm has continued to sell its Tesla position over the years. "We've continued lowering our exposure to tesla as we have over the last few years," Gerber said before adding that he's not exiting his position "for several reasons."
Why It Matters: Gerber's comments come in as experts like ARK Investment's Cathie Wood sold over $5.6 million worth of Tesla shares ahead of the company's Robotaxi launch in Austin.
Wood's decision follows major insider trades at Tesla, which saw notable board members, including Elon Musk's brother, Kimbal Musk, selling over $31.1 million worth of Tesla stock.
However, Tesla is going full steam ahead despite the trades and is reportedly targeting June 12 for its Robotaxi launch. Musk says that the company has ramped up unsupervised FSD testing on public roads in Austin "a month ahead of schedule."
Musk's decision to leave his role with the Trump administration and DOGE has been met with positive reception, as Tesla stock surged in value following the billionaire’s announcement.
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