Tesla Investor Ross Gerber 'Pleased' With Stellar Q2 Deliveries: 'Most Importantly ...'

Ross Gerber, the president and CEO of Gerber Kawasaki Wealth and Investment Management, said on Sunday that he was “pleased” with Tesla’s second-quarter delivery update.

What Happened: “Tesla beats nicely on deliveries as hoped,” Gerber wrote on Twitter. The investment manager noted that the sales of Tesla’s pricier Model S and X vehicles were quite strong and that the EV giant hit a record on both delivery and production numbers.

“466k is a record as well as on the production of 479k. Close to the 2 mil run rate,” Gerber wrote on Twitter. “Can’t spin this one,” he added.

Gerber's Advisor Shares Gerber Kawasaki ETF, an exchange-traded fund, has Tesla as its top holding. It holds 5,728 Tesla shares, which account for about 8.53% of the portfolio weighting.

Why It Matters: Tesla reported 466,140 deliveries in the second quarter, exceeding the most optimistic forecasts. Model S/X deliveries rose about 80% sequentially to 19,225 while model 3/Y deliveries rose 8.4% to 446,915 units.

Tesla also produced 479,700 cars in the second quarter, up 8.8% quarter-over-quarter and 85.5% year-over-year.

Last month, Gerber expressed happiness with Elon Musk handing over Twitter’s reins to Linda Yaccarino to focus on Tesla more, as well as the board reshuffle. He added that institutional investors had come back into Tesla stock, which was now getting the valuation it deserves.

What’s Ahead: Tesla is anticipating holding a delivery event for its much-awaited Cybertruck in the third quarter.

Meanwhile, the design and engineering of the new Tesla Roadster, touted as the "quickest car in the world," is expected to be completed this year and reach production by the end of next year.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read Next: Warren Buffett-Backed BYD Continues To Trump Elon Musk’s Tesla In Deliveries