Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, announced Sunday he intends to “eventually” sell his Cybertruck, citing intense public hostility toward the Tesla Inc. TSLA brand.
What Happened: “The hate is real. Haven’t seen this before IRL,” Gerber wrote on X, after spotting a black-wrapped Cybertruck with “F*** Musk” spray-painted on it. “The Tesla brand is broken,” he added.
Gerber’s comments come amid a growing backlash against Tesla and its CEO Elon Musk. On Saturday, protesters gathered outside Tesla showrooms in numerous U.S. cities, including New York, Seattle, and across California, with some demonstrations drawing up to 100 people, reported The Guardian.
The protests target Musk’s role in leading the Department of Government Efficiency under Trump administration, which has been rapidly dismantling government agencies and conducting mass firings of federal workers. Critics, including some constitutional experts, have questioned the legality of these actions.
See Also: Berkshire Hathaway Adjusts Portfolio, Keeps Apple Stake Unchanged, Offloads Stakes in BofA
Why It Matters: Tesla’s brand challenges extend beyond protests. Singer Sheryl Crow publicly documented selling her Tesla on Instagram Saturday, writing “There comes a time when you have to decide who you are willing to align with,” before donating to NPR, which she described as “under threat by President Musk.”
Some Tesla investors worry Musk’s close alliance with Trump and right-wing politics could hurt sales, particularly in liberal markets like California that have traditionally been Tesla’s strongest. The company reported its first-ever annual sales decline in 2024, though multiple factors may be contributing to this downturn.
Tesla’s challenges appear international as well, with German sales reportedly dropping 60% year-over-year in January following Musk’s December support for the far-right Alternative für Deutschland party.
Price Action: Tesla closed at $355.84 on Friday, down 0.028% for the day. In after-hours trading, the stock declined a further 0.52%. Over the past month, Tesla shares have fallen by 14.01%, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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