Tesla (TSLA) Is Poised for a Big Comeback, Professional Investor Says

“Tesla (stock) is a great buy,” and many investors will ultimately be very eager to buy Tesla’s (TSLA) shares, Christopher Gersch, CEO of Altimus Capital, said on Schwab Network recently.

Tesla Has Strong, Positive Catalysts, Gersch Says

When Tesla unleashes its upcoming AI and auto-pilot innovations, there will be a “fantastic bid” for the company’s shares, Gersch said. Investors should not think of TSLA as an automaker, but as an AI and battery company with a car business, the investor asserted.

Moreover, other large automakers are using Tesla’s charging stations, and Elon Musk’s company can generate hundreds of millions of dollars of additional revenue by increasing the amount that it charges for its electricity, Gersch stated.

TSLA Is a Buy Despite Its Issues

Although sentiment towards Tesla is negative amid the issues that the company is facing, Gersch reported that he is “a buyer (of the stock) all day long” as long as the shares stay above $220.

The Recent Price Action of TSLA Stock

In the last month, the shares have dropped 3.8%, while they have slumped 33% in the last three months.

While we acknowledge the potential of TSLA, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TSLA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.