Photo: Yahoo Finance
Following Tesla CEO Elon Musk’s move to sell another 934,091 shares of Tesla, following a Twitter poll asking if he should sell 10 percent of his stock in Tesla, one bullish investor is pointing out how the company’s recent drop in shares may present an opportunity for fellow investors.
Tesla investor and CEO of Gerber Kawasaki Wealth and Investment Management Ross, Ross Gerber, says Tesla dropping beneath a $1 trillion USD market capitalization is an opportunity for investors, according to Yahoo Finance.
Elon Musk Exercises Option for 2.1M Tesla Shares, Sells 934,000 Afterwards https://t.co/MAIfAazN0Y
— TeslaNorth.com (@RealTeslaNorth) November 16, 2021
With Tesla’s stocks down around 15 percent from its recent all-time high, Gerber emphasized how Tesla’s current demand is only going to make for a better year next year on a segment with Yahoo Finance on Wednesday.
During the segment, Gerber said, “If I’m an investor, I’m pretty happy I get this opportunity with Tesla again. They’re about to have an amazing run in 2022.” Gerber later added, “We’ve got this confluence of demand and really a limited supply of vehicles — and Tesla is the king of this transition. The demand of their vehicles is off the charts.”
To meet the needs of his Twitter poll, Musk still needs to sell another 8,769,943 shares to meet 10 percent of his Tesla stake dumped, as he’s sold a total of 8,230,057 shares thus far.
On Tuesday, Musk exercised 2.1 million share options and sold another 934,091 shares.
