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Tesla shares rise amid offers from tech hedge fund investor Brad Gerstner (NASDAQ:TSLA)

Tesla Service Center.  Tesla designs and manufactures the Model S IV electric sedan

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Update 3:52 pm: Added Gerstner’s comment on Meta.

Tesla (NASDAQ:TSLA) up 0.3% at least in part in the context of pitches from tech industry veteran Brad Gerstner.

Gerstner reveals new stake in Tesla (TSLA) after he said that he was negative for the electric carmaker in 2019 and 2020. Gerstner of Altimeter Capital has initiated a position at Tesla over the past two months.

“The world is moving dramatically, both in terms of geopolitical realities and in terms of energy realities, in the direction of electrification,” Gerstner said earlier in an interview with CNBC.

Gerstner explains that Tesla “has a dual advantage in the world”. “While we expect their market share to be around 15% as we move forward, it’s 15% in a massively growing market and we think they’ll make up a large percentage much more in total profits in the areas of electric vehicles, energy storage, etc.”

Gerstner compares Tesla to Apple (AAPL) as a company with a much larger percentage of profits in a smaller fraction of the units actually sold.

“We think Tesla is following that book,” said Gerstner. “They’ve built a company that, frankly, is expanding its morale, extending its lead over OEMS who carry a host of ICEy legacy.”

Particularly Gerstner, who said he had previously defended the Meta Platform (NASDAQ:META) and that was the previous business model, said he has grown “quite frustrated” with the tech giant.

“I think they did an absolutely lousy job explaining this transition to the Street,” said Gerstner.

He added that “it’s time for the new CFO, for Susan and for Mark to come out ahead and explain to investors exactly what’s going on.”

“There is a tremendous opportunity here to focus on less, drive free cash flow out of the business, buy back more shares, and explain to shareholders why this is an opportunity,” says Gerstner. great association.

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