Investor Ron Baron says Tesla is at a bottom, and the stock will 'go up huge' from here

📆 4/25/2024 1:42 PM
📰 CNBC

⏱ Reading Time:
22 sec. here
6 min. at publisher
📊 Quality Score:
News: 26%
Publisher: 72%

Investment Strategy News

Stock Markets,Elon Musk,Tesla Inc

'It's going to go up huge. Now is the bottom. What they are doing is going into robotaxis and going to make the low-cost cars,' Baron said.

Billionaire investor Ron Baron, a longtime Tesla bull, believes Elon Musk's electric vehicle manufacturer has hit a bottom. "It's going to go up huge. Now is the bottom. What they are doing is going into robotaxis and going to make the low-cost cars," Baron said on CNBC's "Squawk Box" Thursday. "Overall they have to do five million new cars.

mountain Tesla shares over past 12 months. Baron said he's also bullish about the possibility of Tesla one day selling its autonomous driving technology to other carmakers, given the amount of data it will collect. Baron is the rare active manager who has outperformed the market since the 1980s. The 81-year-old founded Baron Capital in 1982, and the firm says that 16 of his 19 mutual funds — representing 98.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla's Job Cuts Fail to Ease Investor Concerns on Vehicle DemandInvestor concerns about demand for Tesla's vehicles remain despite the announced job cuts. The company's stock price dropped almost 6% after the layoffs, reaching its lowest point since May of last year.
Source: CNBC - 🏆 12. / 72 Read more »