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2021-12-16

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Musk stock sales are smart because EVs unlikely to stay hot investment in 2022 - Loup Ventures' Gene Munster

Loup Ventures analyst Gene Munster said Wednesday that the timing of Elon Musk's sale of Tesla(NASDA

Musk stock sales are smart because EVs unlikely to stay hot investment in 2022 - Loup Ventures' Gene Munster

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Since fund managers are pegged to annual performance, they tend to  \"hit that reset bar\" once the calendar turns, he said.\nOn the EV space in general, Munster predicted further upside for TSLA, even acknowledging the likelihood that the sector will see less enthusiasm in 2022.\nHe maintained his $2,500 price target for Musk's EV maker.\nHowever, Munster took a more cautious view of other players in the space. Specifically, he characterized the high valuation for Rivian(NASDAQ:RIVN)as \"a head scratcher.\"\nTSLA rallied to an all-time peak of $1,243.49 in early November, briefly joining the $1T market cap club in the process. 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Musk stock sales are smart because EVs unlikely to stay hot investment in 2022 - Loup Ventures' Gene Munster

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