'Elon abandoned Tesla': The EV maker's 3rd-largest individual shareholder calls for a new CEO as the Twitter circus tests investor patience
Despite his frustration, Leo is not selling his Tesla shares. Instead, he is planning to buy more as he believes the stock is undervalued and there's still room for the company to grow with a laser-focused CEO.
"Frankly my dear, I don't give a damn if Elon stays or leaves Tesla. Tesla is a great company and $160/shr is cheap," Leo said, adding that he'd like to see an operational executive similar to Tim Cook to take over the company. "Elon is a mere hired hands. He is our employee... Elon was the proud father, Tesla has grown up... An executioner, Tim Cook-like is needed, not Elon," Leo tweeted."I plan to invest more $billion bc Tesla will be the biggest company with or without Elon."
In an apparent reference to an options trade, Leo said that he will buy an additional 3 million shares at $160 per share if Tesla falls below $160 in a few weeks, but what bothers Leo is that while he's buying Tesla stock, Musk is selling. "Today, I just put in another $500 million on the line to support Tesla stock price @$160 whereas Elon sold $35B his shares and maybe more last few days," Leo
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