Here's Why This Investor Just Purchased $1 Million TSLA Stock: 'Never Bet Against...'

Investor and entrepreneur Anthony Pompliano has shared that he has bought over $1 million worth of Tesla Inc. (NASDAQ:TSLA) stock.

Never Bet Against Elon Musk

In a post on the social media platform X on Tuesday, the entrepreneur outlined four reasons why he bought Tesla shares. "Never bet against @elonmusk – he is the greatest entrepreneur of our generation," Pompliano shared in the post.

He also shared that autonomy will be the standard in the future and hailed Tesla's self-driving efforts. Pompliano said that the automaker had "the data advantage and the best technology."

Worth pointing out that many would not share Pompliano's bullish stance on Tesla's self-driving exploits. Recently, investor Ross Gerber, co-founder of Gerber Kawasaki, acknowledged the improvements made by Tesla's Full Self-Driving (FSD) system, but lamented its performance in direct sunlight.

Robotics, Mergers

"Robotics & AI is massive TAM," the investor said, adding that he believes that humanoid robots were "likely the biggest market a company could go after," and Tesla will emerge as a leader in the space. It's worth noting that Musk, too, has touted the Optimus as a product that could directly affect the U.S.'s GDP.

Citing the merger between SpaceX and xAI, as well as Tesla's possible merger with SpaceX, Pompliano highlighted the "option value on Elon Inc." as another reason to buy Tesla stock. "So much of investing comes down to finding the best people and just giving them money," he concluded.

Tesla's Major Battery Breakthrough

The news comes as Musk shared that the automaker had recently had a breakthrough in battery chemistry, hailing Tesla’s new dry electrode process, which does not require a wet solvent like N-Methyl-2-pyrrolidone (NMP) and instead directly coats the electrode with active materials by heat or pressure.

Benzinga Edge Rankings show that Tesla scores well on the Momentum metric and offers a favorable price trend in the Long Term.

Price Action: TSLA declined 0.67% to $419.15 during the after-hours trading on Tuesday.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Photo courtesy: Shutterstock