Tesla Bull Fed Up at Musk’s Tweets, Says Costing Investors Money
Tesla Bull Fed Up at Musk’s Tweets, Says Costing Investors Money
(Bloomberg) -- One of Tesla Inc.’s most outspoken bulls is sick of Elon Musk’s tweets costing investors money.
“I hope they take away his phone,” Ross Gerber, the chief executive officer of fund manager Gerber Kawasaki, said of Musk on Monday, after the U.S. Securities and Exchange Commission asked a judge to hold the chief executive officer in contempt. The agency alleged the billionaire violated a settlement reached in September that required him to seek pre-approval from Tesla before posting material information on Twitter.
Musk, 47, wrote on Feb. 19 that Tesla would make around 500,000 electric vehicles this year, then corrected himself about four hours later by saying deliveries would only reach about 400,000.
“It feels like the SEC cares more about doing right by Tesla than Elon does,” said Gerber, whose fund holds about 35,000 shares. “I am all for the bad-boy attitude, in theory, but this is still a business and he’s costing his company and shareholders a lot of money.”
To contact the reporter on this story: Chester Dawson in Southfield at cdawson54@bloomberg.net
To contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, David Welch
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