The Elon Musk Effect: Tesla's Stock Rallies Amidst CEO's Astonishing Turnaround
Jun. 16, 2023 07:14 AMKey Points
- Activist investor Ross Gerber credits Elon Musk's intensified focus for Tesla's stock rally.
- Musk's shift of attention from Twitter to Tesla has propelled the company's performance.
- Remarkable achievements include expanding the global Tesla charging infrastructure and productive meetings in China.
- Since Linda Yaccarino's appointment as CEO, Tesla's market capitalization has increased by $300 billion.
- Institutional investors regain confidence, contributing to Tesla's valuation aligning with its true worth.
How Elon Musk's Obsession with Tesla Ignites the stock.
According to activist investor Ross Gerber, Esra's share price has risen sharply as CEO Elon Musk refocuses his efforts on electric vehicle (EV) makers. Mr. Gerber emphasized that Mr. Musk's unwavering interest has had a significant impact on Tesla's performance and the resulting positive results.
"We've seen first-hand how Elon's focus can make a big difference," Garber said in an interview with Yahoo Finance. The company's stock has soared more than 50% since Musk announced via Twitter that he would be changing roles at Tesla.
Garber briefly sought a seat on Tesla's board earlier this year, but he has indicated his intention to advocate a change in Twitter's management, not Tesla's management. He praised Musk for listening to his concerns and shifting attention away from Twitter to Tesla.
"In just 30 days since Elon refocused on Tesla, we've seen impressive results, including a global expansion of Tesla's charging infrastructure and a productive conference in China," Garber said. . "This is an example of Elon's efforts having a huge impact."
On May 12, Musk announced that Linda Yaccarino was taking over the CEO role so he could focus on other things. Since then, Mr. Musk has embarked on a high-profile visit to China, forming a strategic partnership that will give Ford and GM customers access to Tesla's extensive Supercharger network.
Musk's renewed commitment to Tesla coincided with an extraordinary surge in the company's stock. After Yaccarino's announcement, Tesla's market capitalization increased by about $300 billion and its stock price rose 52%.
Garber said Musk's new involvement was positively received, saying "the stock market reacted, institutional investors regained confidence and Tesla's valuation now reflects its true value." emphasized that
Tesla continues to benefit from Musk's unwavering commitment and strategic efforts, and investors are excited about the company's future and potential for continued growth in the electric vehicle market.
Institutions Holding TSLA
- # of Institutions 3,291
- Shares Held 1.33B
- Call Options Held 145M
- Put Options Held 185M
About Tesla, Inc.
- Ticker TSLA
- Exchange NASDAQ
- Sector Consumer Cyclical
- Industry Auto Manufacturers
- Shares Outstandng 3,157,750,016
- Market Cap $694B
- Description
- Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory ...