After Tesla Inc.’s (NASDAQ: TSLA) annual shareholder meeting, Ross Gerber praised Elon Musk and analyst Dan Ives forecasted a trillion-dollar market value.
“I think it was a referendum on his management in his mind… On CNBC’s Last Call, Gerber Kawasaki Wealth CEO remarked, “I love to see Elon running Tesla again.” Tesla must concentrate on EV demand, Gerber said.
The investor has often attacked Musk’s leadership and EV maker’s growth narrative, so Gerber’s praise is remarkable.
On the same panel, Wedbush analyst Dan Ives replied to Gerber’s remarks with confidence. “I’m sensing a little bullishness from the Bear Gerber,” Ives said.
“I think it was also like a referendum on his management in his mind,” says @GerberKawasaki of @elonmusk’s compensation package approval by Tesla shareholders. $TSLA
Why It Matters: Tesla shareholders reapproved Elon Musk’s multibillion-dollar pay package at the shareholder meeting, supporting the EV maker’s longstanding leader and supporting the board’s attempts to keep the contentious compensation plan.
The approval came during Tesla’s annual shareholder meeting in Austin, Texas. The corporation did not disclose the voting percentage, however, 73% of shares backed the proposal in 2018.
Musk danced on stage when the results were released, thanking shareholders: “I just want to start out by saying, ‘Hot damn, I love you guys.'”
Gerber, who earlier expressed reservations about Tesla’s viability, may have changed his mind. After Musk predicted a $30 trillion value for the business, this follows.
Price Action: Tesla Inc. finished Thursday at $182.47, up 2.92%, then climbed 0.13% to $182.70 after-hours. Benzinga Pro shows the stock down 26.55% year-to-date.
