*By Hope King* Few company statements in history have been as controversial as the one Elon Musk made 20 days ago. And although it may seem like Tesla bears and bulls never agree, it's not always the case. Ross Gerber, a longtime investment manager and Tesla bull, said he believes "it was a big mistake" for Musk to tweet about his intentions for taking Tesla private back on Aug. 7. "We're unhappy that this was all done in the public forum," Gerber told Cheddar in an interview Monday afternoon. "[But] ultimately this is what’s best for the company." In the scheme of things he also believes the past few weeks will ultimately be insignificant to Tesla's history. "When we look backwards, this is just a blip in the overall Tesla story," Gerber said. "We'll forget hopefully in six months, maybe in six weeks ー you never know." What's concerning to Gerber, co-Founder, president and CEO of Gerber Kawasaki Wealth and Investment Management, is whether Tesla's production will be successful, and if the company's cars will be profitable. This is a point he'll concede to the Tesla bears. "That's a legitimate argument that's being made," Gerber said. "We look at this tweet stuff of 'oh how much someone might pay for my company' ... as a sort of embarrassing moment for Elon." Gerber, who drives a Model 3 and thinks it's "amazing," said he was concerned in December when he got an email saying his car would be delayed. "That was a much more stressful time." Even so, Musk's post on Friday night indicating Tesla is staying private comes as a relief to Gerber. He said he was "kinda happy to put this all to rest." "We didn't really want to sell our company for $420 a share," said Gerber. At the same time he was mostly happy to see the stock move higher on the news back on August 7, because it indicated to him that there are "many players that will buy" at $420. "We see that as an option right now." Tesla stock got as high as $387 after Musk's tweet but has since fallen back to about $320. Last Monday, it briefly fell below $300 a share. Gerber says he represents about 675 clients ("basically mom and pop" investors). His overall investment portfolio has about 38,000 shares of Tesla. His long position began five years ago, and his portfolio has already realized "millions of dollars" in gains and has $3 million-plus in unrealized gains. Shares of Tesla ended the day down about 1% Monday. For full interview [click here](https://cheddar.com/videos/why-tesla-bull-ross-gerber-says-he-is-standing-by-automaker).

Share:
More In Business
Starbucks’ Change Flushes Out a Debate Over Public Restroom Access
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
Trump Highlights Partnership Investing $500 Billion in AI
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Load More