Ross Gerber, a wealth manager and early Tesla investor, has expressed a loss of confidence in Elon Musk, signaling potential trouble for Tesla. He sold over 26,000 shares amidst concerns that the company's political issues are damaging its brand. Having previously predicted a significant drop in stock value, Gerber remains skeptical about Tesla's ability to rebound, particularly regarding their upcoming Robotaxi service. He suggests that unless there is substantial improvement or change in leadership, Tesla's future prospects are bleak.
"This could be an extremely difficult time for them, if they don't pull off or at least convince people that they have a real robotaxi business on the way."
"We certainly haven't changed our view where we would start [buying Tesla stock] again."
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