Tesla Bull Admits He's 'Been Wrong' On EV Giant For 3 Years, Calls This His 'Greatest Research Mistake'
Portfolio Pulse from Shanthi Rexaline
Gary Black of Future Fund admitted he has been wrong about Tesla (TSLA) for three years, citing the stock's underperformance and his misjudgment on its volume growth and earnings power due to price cuts and a delayed affordable model. Despite these setbacks, he remains bullish on Tesla, expecting its stock to reach a $290 price target based on the assumption that other EV makers will reduce their investments.
February 22, 2024 | 6:40 am
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NEUTRAL IMPACT
Tesla is the third-highest holding in Future Fund Active ETF (FFND), managed by Gary Black, who remains bullish on Tesla despite admitting past misjudgments.
As Tesla is a significant holding in FFND, Black's views on Tesla directly impact the ETF. His bullish stance despite past errors suggests a neutral short-term impact, as investor sentiment may be swayed by his optimism or caution due to his admitted misjudgments.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 70
NEUTRAL IMPACT
Gary Black admitted to misjudging Tesla's stock performance, volume growth, and earnings power, but remains bullish with a $290 price target.
Black's admission of misjudgment and the underperformance of Tesla's stock could cause short-term uncertainty. However, his continued bullish stance and the $290 price target may provide some optimism to investors, balancing the short-term impact.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100