Tesla long-term investor Ross Gerber said that he sold about half of his Tesla holdings because he felt that the market was no longer interested in Tesla's cars or robots.

Since Tesla CEO Musk acquired Twitter in 2022, Gerber has openly criticized Musk. In a recent interview with Yahoo Finance, he revealed that he has sold approximately $60 million worth of Tesla stocks, but the investment fund he manages still holds $50 million worth of Tesla shares.

Ross Gerber stated that over time, he has gradually reduced his investment in Tesla because he no longer believes that Tesla can achieve the goals set a few years ago or even recently, especially in terms of car sales. The optimistic promotion of Tesla in robots and autonomous driving technology is actually a diversion of attention, concealing the reality that they urgently need to sell more cars. He emphasized that Tesla needs to sell more cars this year, next year, and the year after because these new technologies will not have any practical impact in the short term.

Ross Gerber pointed out, 'There are also many used Tesla cars in the second-hand car market, and car sales can only rely on discounts. He himself cannot sell his Tesla car at a reasonable price. Tesla is now in a predicament. Although the company has the best products in the industry, CEO Musk does not seem to focus on the core business of the company or make efforts to promote these cars. Tesla's sales are declining, and if anyone expects Tesla's performance in the next quarter to be good, they are wrong. Now, Tesla can only sell cars by constantly offering discounts, and sales are clearly declining.'

Not only Gerber, in recent years, Musk's leadership position in Tesla has attracted close attention from investors and legislators. Recently, US Senator Elizabeth Warren wrote a letter to the Tesla Board of Directors, calling on executives to ensure that Musk is financially accountable to Tesla shareholders.

Although some analysts believe that Tesla, as an AI company, is undervalued, Gerber believes that AI is unlikely to save Tesla. He speculates that due to people's skepticism about Musk's chaotic management on Twitter (now renamed X), people have low trust in Musk, so there may not be a great market demand for Tesla's humanoid robots.

Gerber used a simple example to illustrate this issue: 'You can go and ask your neighbors how many people would be willing to buy a humanoid robot made by Musk? The answer is zero, no one wants a Musk-made robot. Why? Because who would trust it?'

He also added, "What I least need is a robot made by Musk in my house, so I don't know if they have considered how to market this product efficiently."

In addition to Gerber, other Tesla investors have also begun to doubt the company's development direction. These doubts are reflected in the stock price, which has fallen more than 15.8% as of Monday's close due to declining sales, intensified market competition, and the negative impact of Musk's legal disputes.

Editor/Lambor