One long-time investor, Ross Gerber, sold half of his Tesla shares. He says it seems no one wants to buy Tesla's cars or robots. Gerber thinks Tesla is not meeting its goals, like selling more cars.
Gerber doesn't believe in Tesla's big plans for robots and self-driving cars. He says Tesla needs to focus on selling cars now and in the coming years. Other investors are also losing faith in Tesla.
Tesla's stock price has gone down this year. This is because they are selling fewer cars, facing more competition in Chine, and Musk is involved in legal issues.
Gerber says there are too many used Teslas for sale, and he can't sell his own Tesla for a good price. He thinks Tesla has good products, but Musk is not working hard to sell them.
Tesla is lowering prices to try to sell more cars, but it's not working well. Some people say Tesla should be valued as an AI company, but Gerber doesn't think AI can save Tesla.
In short, Tesla and Elon Musk are facing many challenges, and some investors are losing confidence in the company's future.
The used-car market is now swarmed with old Teslas, the longtime shareholder Ross Gerber says. Emma McIntyre / Staff/Getty Images
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