MarketWatch First Take: ‘He broke the stock’: Why a prominent Tesla investor wants Elon Musk to put him on the board

by | Jan 10, 2023 | Stock Market

Ross Gerber is well-known in certain circles as a longtime Tesla Inc. investor, thanks to being a bullish voice on Twitter about the electric-vehicle company. As Tesla
TSLA,
-2.20%
stock has plummeted in recent months while Chief Executive Elon Musk sells shares and focuses on his newer toy, Twitter Inc., Gerber has changed his tune a bit though. While the president and chief executive of Gerber Kawasaki investment advisers still believes in Tesla’s future, he has also become a bit of an activist investor and hopes that it leads to a seat of power with the company — specifically, a seat on the board of directors.

Gerber has launched a campaign to be added to Tesla’s board via the new Securities and Exchange Commission policies for universal proxy cards. Gerber has skin in the game for Tesla: His clients had, at one point, he said, invested a combined $100 million in the company. The firm’s AdvisorShares Gerber Kawasaki ETF
GK,
+1.18%
was down 40% in 2022. Gerber Kawasaki also managed $1.7 billion in assets as of March 31, 2021, according to the firm’s …

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