Ross Gerber, founder and CEO of Gerber Kawasaki Wealth and Investment Management, and longtime Tesla Inc TSLA bull, made (informed) predictions about the Elon Musk-led company on Wednesday.
What Happened: Gerber maintained his bullish outlook on Tesla during an interview on "The Best Business Show" with Pomp Investments' Anthony Pompliano.
"Quite frankly, I think the Tesla shares are the most valuable shares in the stock market," Gerber said.
He said the company is executing better than anyone else. The main thing holding the stock back from further upside is the company's inability to meet demand for its products, he said.
"Tesla is executing brilliantly right now on a product that's in such high demand that they really just can't supply it," Gerber said. But Tesla is actively working on a solution to increase supply, according to Gerber.
Why It Matters: "This is what's going to happen next," he said. "Tesla is prepared to build a second Gigafactory in Texas and a second Gigafactory in Shanghai and I expect formal announcements for that fairly soon."
It was reported Wednesday that Tesla is planning a second Shanghai facility.
Gerber told Pompliano that this is the first time he has shared the manufacturing expansion information he was able to dig up.
"My sources of information are deep, really deep. I dig a deeper hole than anybody in my business about the companies I own," Gerber said.
"There's nobody who knows more about Tesla in the world than me ... and that's what's going to happen next."
TSLA Price Action: Tesla has traded between $546.98 and $1,243.49 over a 52-week period.
According to data from Benzinga Pro, the stock was down 1.09% at $942.26 premarket Thursday.
Photo: courtesy of Tesla.
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