Jed Dorsheimer, William Blair group head - energy power tech, joins 'Money Movers' to discuss Elon Musk's $1 billion buys of Tesla stock.

Austin

Elon Musk has acquired $1 billion in Tesla stock, a move that analysts interpret as a strong vote of confidence in the company's direction. The purchase is being compared to a similar acquisition in early 2020, which preceded significant gains for Tesla, though experts caution that past performance does not guarantee future results.

Market observers highlight that Musk's investment aligns with Tesla's advancements in autonomous vehicle technology, particularly its Robotaxi project. The expansion of Tesla's self-driving operations in cities like Austin and San Francisco is seen as a sign of scalability and growing confidence, with Musk's personal investment reinforcing positive sentiment among investors.

Elon Musk buys $1 billion of Tesla stock

Let's stick with this move higher in Tesla and that billion dollar stock purchase joining us this morning with his insight and reaction. William Blair Group head of energy and power tech Jed Dorsheimer. Jed good to have you. I guess what do you make of the purchase and then just the performance the price action in the past week or month today. Yeah I mean as Robert meant. Thanks for having me Carl. I think as Robert mentioned you know the last time was February 2020. And so as a signal I think most are looking at what was the performance after that. And the performance that you know has been was incredible. Now past results don't equal future performance obviously. But I think most are looking at two things. One you know what happened last time. And then two what does this mean in terms of a confidence signal. And I think the confidence signal particularly in Robotaxi certainly looks strong. And I think that's really what's driving the shares here. Is that when you say that you mean because of the markets they're now eyeing that that might put them in closer competition with Waymo. Yeah it's a good question. So again we think that being a fast follower is better than being a first mover particularly where if Tesla is able to achieve through its visual and neural net eight ten times lower cost basis compared to Waymo. And so their scalability has which is really a probabilistic solution versus Waymo which is deterministic. That has a huge advantage. So so far what we're seeing and what we're or perhaps even more importantly what we're not hearing what we're not hearing about is major problems. And what we're seeing is an increase of confidence as well as a scalability of area. So when we look at Austin which I came on your show you know a month ago talking about our experience that's already expanded significantly from 20 square miles to over 200 square miles 400 square miles in San Francisco. Now opponents of this are going to push back and say well there's a safety driver and there was in the car that we were in but they're collecting the data. And that's really important in terms of the scalability of this. The fact that Elon stepping in and putting his own money behind this I think is saying to investors that things are going better than expected.

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