Latest news with #GerberKawasakiWealthandInvestmentManagement
Yahoo
03-07-2025
- Business
- Yahoo
Ross Gerber Slams Trump's Tax Plan As 'Biggest...Scam Out There,' Says It Threatens Clean Energy Future: 'Big Ugly Bill'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Investment advisor and CEO of Gerber Kawasaki Wealth and Investment Management, Ross Gerber, has sharply criticized the new tax cut bill – One Big Beautiful Bill Act, which was passed by the House and awaits pending approval from the Senate. What Happened: In an X post, Gerber labeled it 'the big ugly bill,' accusing it of sabotaging critical advancements in clean energy and transportation while conveniently sidestepping a notorious tax loophole known as carried interest, which he branded 'the biggest tax scam out there.' The 'One Big Beautiful Bill Act,' currently under consideration in the 119th U.S. Congress, has sparked debate with its proposed amendments to tax codes and energy policies. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Gerber, whose firm manages a $3.36 billion portfolio with a strong focus on technology, clean energy, and transportation as of Dec. 31, 2024, argues that the bill threatens to dismantle key provisions of the Inflation Reduction Act. That earlier legislation, enacted in 2022, has catalyzed $321 billion in private investment across 2,369 U.S. clean-energy projects, according to a June 5, 2025, report by carried interest, a tax provision allowing private equity and hedge fund managers to pay a reduced capital gains tax rate of 23.8%, compared to the income tax rate of 37%, on their share of profits, was also central to Gerber's criticism. According to Gerber, this loophole saves wealthy fund managers billions annually, disproportionately benefits the ultra-rich, while straining federal revenues. Why It Matters: Here is a list of a few clean energy stocks and an exchange-traded fund that investors could consider as a play on the possible effects on the industry, as highlighted by YTD Performance One-Year Performance First Solar, Inc. (NASDAQ:FSLR) -18.41% -31.69% SunPower Corporation (NASDAQ:SPWR) -3.35% 44.17% Wind Systems (OTCQX:VWDRY) 11.76% -31.18% NextEra Energy, Inc. (NYSE:NEE) -1.01% 1.42% Plug Power Inc. (NASDAQ:PLUG) -50.21% -49.12% Ballard Power Systems (NASDAQ:BLDP) -20.65% -34.53% Fluence Energy, Inc. (NASDAQ:FLNC) -63.69% -62.63% Contemporary Amperex Technology Co. Ltd. (CATL) -2.53% 43.25% iShares Global Clean Energy ETF (NASDAQ:ICLN) 12.24% -2.18% Apart from these industry-specific effects, the One Big Beautiful Bill Act is also expected to increase the federal deficits by $3.8 trillion, as highlighted by the Congressional Budget Office's estimates on the distributional impacts of the bill. Following Friday's record-setting rally, the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Monday. The SPY was up 0.47% at $617.80, while the QQQ advanced 0.71% to $551.98, according to Benzinga Pro data. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. Arrived Home's Private Credit Fund's has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image Via Eric Hartline-Imagn Images This article Ross Gerber Slams Trump's Tax Plan As ' Out There,' Says It Threatens Clean Energy Future: 'Big Ugly Bill' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Time of India
02-07-2025
- Automotive
- Time of India
Tesla quarterly deliveries seen falling again
Tesla is expected to report another fall in quarterly deliveries on Wednesday as the backlash against CEO Elon Musk's political views and competitive pressures continue to drag on demand. While much of Tesla's trillion-dollar valuation hangs on Musk's bet on commercializing robotaxis, most of the company's current revenue and profits come from its core business of selling electric vehicles - one that has been under pressure due to high interest rates and rising competition. The global EV market has been growing, albeit at a slower pace than in previous years, but annual sales of Tesla's aging lineup fell for the first time in 2024. While Musk has said sales will return to growth in 2025 - a pullback from his earlier promise of 20-30% growth - analysts expect an 8% sales decline this year. For the second quarter ended June, Tesla is expected to deliver 394,380 units, according to 23 analysts polled by Visible Alpha. That would be a drop of more than 11% year-over-year, and would follow a 13% decline the company reported in the previous quarter. Tesla has said the fall last quarter was due to a pause in production to shift to a refreshed version of its best-selling Model Y SUV, and analysts had said many customers were delaying purchases as they waited for it to roll out. "I think a lot of analysts were thinking this quarter would have a bump positive because of the new Model Y," said Ross Gerber, CEO of Tesla investor Gerber Kawasaki Wealth and Investment Management. "But the new Model Y in my mind isn't such a departure from the old Model Y," he said, adding that demand for the model did not live up to expectations. Instead, people bought fewer Tesla vehicles. Some prospective buyers were irked by Musk's public embrace of far-right politics in Europe and work for U.S. President Donald Trump overseeing cuts to federal jobs and funding. Though Musk has shifted his focus back to his companies, the backlash, along with customers choosing cheaper Chinese EVs, led to the fifth straight month of falling sales for Tesla in Europe, with a 27.9% drop in May, data from the European Automobile Manufacturers Association showed. In China, Tesla's share of the EV market has fallen to 7.6% for the first five months of 2025, from 10% last year and a peak of 15% in 2020, as competitors won over consumers with snazzy, new, feature-packed EVs. Xiaomi's YU7 SUV received exceptionally strong orders hours after going on sale last week and fanned speculation that Tesla may have to cut prices to fight back. "Lagging sales in Europe compared to the rest of the EV market and the increasing competition in China are both working against Tesla going forward," said Sam Fiorani, vice president at research firm AutoForecast Solutions. To achieve Musk's target of returning to growth this year, Tesla - if those second-quarter estimates are accurate - would need to hand over more than a million units in the second half, which would be a record and a tough challenge, according to Wall Street analysts, although typically sales are stronger in the latter half. Some help could come from Tesla's planned cheaper model - expected to be a stripped down Model Y - that the company has said it will start producing by June end. Reuters reported in April it would be delayed by at least a few months. After tanking early this year amid angry anti-Musk protests, Tesla shares have regained some ground recently. Last month, the company rolled out about a dozen robotaxis in a limited part of Austin, Texas, ferrying a small group of invited fans for a nominal fee but with a safety monitor and other restrictions.
Yahoo
09-06-2025
- Business
- Yahoo
Apple Isn't Even at the AI Party, Ross Gerber Says
"Siri is clueless and doesn't work," Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management, says while discussing Apple's WWDC 2025. Speaking on "Bloomberg The Close," Gerber also says Steve Jobs would call Apple's new products "garbage."
Yahoo
06-06-2025
- Business
- Yahoo
A renowned Tesla bear says he's selling stock after Musk's 'disaster' feud with Trump
Ross Gerber said that he's selling more Tesla stock in light of the Trump-Musk feud The Tesla bull-turned-bear believes Musk's actions are jeopardizing Tesla's business. Gerber also sees risks for Musk's other companies, such as SpaceX. Ross Gerber said he is dumping more Tesla stock after Elon Musk's public falling out with President Donald Trump. The Gerber Kawasaki Wealth and Investment Management CEO told Bloomberg on Thursday that the Trump-Musk feud is a "disaster" for Tesla's CEO. Gerber ripped into Musk's erratic leadership style and the Tesla board's inaction. Tesla stock plunged as much as 18% on Thursday before clawing back some losses to end the day 14% lower. It was the worst day for the stock since March. On Friday, the stock rose by as much as 6%. "The board isn't going to do anything. Nobody's going to protect Tesla shareholders and the way you protect yourself is by selling stock," Gerber said. "I personally sold some Tesla stock today. We've been sellers for years and continue to be sellers of Tesla." For Gerber, the episode is just the latest opportunity to pare exposure to the carmaker. While he was an early Tesla investor, Gerber has soured on the stock in recent years after expressing concerns about the company's business model and Musk's leadership. In August 2024, Gerber disclosed selling approximately $60 million worth of Tesla shares, and he's continued to whittle his firm's holdings. In February, Gerber accurately predicted a 50% plunge in the stock price, and Gerber-Kawasaki's latest 13F filing revealed the sale of over 26,000 Tesla shares —about 10% of the firm's stake— in the first quarter of 2025. Even after Tesla stock rebounded sharply from its most recent lows, Gerber remained unconvinced of the company's fundamentals and Musk's leadership. Gerber said Thursday that Musk has a duty to shareholders to cooperate with the government due to his companies' dependence on government contracts. The investor thinks the feud isn't just bad news for Tesla stock. Gerber also thinks it could negatively affect Musk's other companies such as SpaceX. "SpaceX relies almost 100% on governments around the world and the US government to fund it, and this is an easy target because we don't need to go to Mars, that's for sure. And so who's going to pay for all this stuff?" Gerber said. "SpaceX valuation was probably cut in half today because of this behavior." Read the original article on Business Insider
Yahoo
06-06-2025
- Business
- Yahoo
A renowned Tesla bear says he's selling stock after Musk's 'disaster' feud with Trump
Ross Gerber said that he's selling more Tesla stock in light of the Trump-Musk feud The Tesla bull-turned-bear believes Musk's actions are jeopardizing Tesla's business. Gerber also sees risks for Musk's other companies, such as SpaceX. Ross Gerber said he is dumping more Tesla stock after Elon Musk's public falling out with President Donald Trump. The Gerber Kawasaki Wealth and Investment Management CEO told Bloomberg on Thursday that the Trump-Musk feud is a "disaster" for Tesla's CEO. Gerber ripped into Musk's erratic leadership style and the Tesla board's inaction. Tesla stock plunged as much as 18% on Thursday before clawing back some losses to end the day 14% lower. It was the worst day for the stock since March. On Friday, the stock rose by as much as 6%. "The board isn't going to do anything. Nobody's going to protect Tesla shareholders and the way you protect yourself is by selling stock," Gerber said. "I personally sold some Tesla stock today. We've been sellers for years and continue to be sellers of Tesla." For Gerber, the episode is just the latest opportunity to pare exposure to the carmaker. While he was an early Tesla investor, Gerber has soured on the stock in recent years after expressing concerns about the company's business model and Musk's leadership. In August 2024, Gerber disclosed selling approximately $60 million worth of Tesla shares, and he's continued to whittle his firm's holdings. In February, Gerber accurately predicted a 50% plunge in the stock price, and Gerber-Kawasaki's latest 13F filing revealed the sale of over 26,000 Tesla shares —about 10% of the firm's stake— in the first quarter of 2025. Even after Tesla stock rebounded sharply from its most recent lows, Gerber remained unconvinced of the company's fundamentals and Musk's leadership. Gerber said Thursday that Musk has a duty to shareholders to cooperate with the government due to his companies' dependence on government contracts. The investor thinks the feud isn't just bad news for Tesla stock. Gerber also thinks it could negatively affect Musk's other companies such as SpaceX. "SpaceX relies almost 100% on governments around the world and the US government to fund it, and this is an easy target because we don't need to go to Mars, that's for sure. And so who's going to pay for all this stuff?" Gerber said. "SpaceX valuation was probably cut in half today because of this behavior." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
