Longtime shareholder of Tesla Inc. TSLA and CEO of Gerber Kawasaki Wealth & Investment Management, Ross Gerber criticized Tesla CEO Elon Musk on Tuesday, saying that Musk “doesn’t care” about the electric car manufacturer.
What Happened: “It’s clear that he just doesn’t care,” Gerber said in an interview with Bloomberg Technology. “His next move is X AI… So if you have any confusion that he’s coming back to Tesla, he’s not.”
Gerber defended his criticism after a backlash from retail investors. “I understand why retail investors at Tesla are frustrated with me for voicing my views,” he said, adding that he’s “getting attacked because of Elon’s behavior.”
Tesla’s stock has declined 33% year-to-date. Gerber links the EV maker’s stock performance to Musk’s outside activities and reduced involvement with the company.
See Also: Retail Traders Rush Into Leveraged Tech ETFs, Betting On Nasdaq Rebound After Sharp Drop
Why It Matters: Tesla continues to lead the U.S. EV market, according to data from Cox Automotive, however, sales fell 8.6% year over year in the first quarter of 2025, while the market as a whole expanded 11.4%.
Wedbush Securities analyst Dan Ives, a long Tesla bull, echoed similar concerns, noting “Tesla investors are seeing patience wear thin” due to Musk’s absence from Tesla while focusing on his role in President Donald Trump‘s Department of Government Efficiency (DOGE).
Despite his criticisms, Gerber maintains Tesla holdings for clients. “We still own Tesla because I do think something fixes itself at some point, and they have the best products,” he said.
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