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4a4 4 0 0 1 2. Gerber runs the Gerber Kawasaki ETF, and it had its January shareholder meeting yesterday. Tesla’s stock, which the fund is heavily investing in. Musk has never directly acknowledged the impact of his selling and actually denied it being a significant factor.
He told Gerber to go back to and read textbooks from Finance 101 because he believed the decline in Tesla’s stock was simply due to the broader stock market and FED initiatives. The CEO eventually did promise not to sell more Tesla stocks for the next few years. However, he said that before and didn’t follow through. Now Gerber more specifically accused Musk of destroying Tesla’s stock in the way he sold the stock. Instead, they were open market sales that were front-run by short sellers and some of those happened in desperation in October and November when he needed money for Twitter when Twitter revenue went to zero. 200 a share and he broke the stock.