Tesla Bull Gary Black Fumes Over Personal Attacks By EV Giant's Fans After Trimming Stake: 'Valuation Is Based On Forecasts, Not Hype'
Portfolio Pulse from Anan Ashraf
Gary Black, Managing Partner at Future Fund, criticized personal attacks from Tesla fans after he trimmed his stake in Tesla, citing a 50% loss in the company's long-term earnings power. He maintains a $250 price target for Tesla, despite its recent slump. Ross Gerber, CEO of Gerber Kawasaki, also faced criticism but views the slump as a move towards a more reasonable valuation. Both emphasize analysis over hype in valuation.
March 18, 2024 | 7:35 am
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NEUTRAL IMPACT
Gary Black and Ross Gerber's critical views on Tesla's valuation and earnings trajectory, along with Black's $250 price target, could influence investor sentiment and potentially impact Tesla's stock price in the short term.
The article highlights concerns over Tesla's earnings and valuation from notable investors, which could lead to mixed reactions in the market. While the criticism might concern some investors, Black's maintained price target of $250, significantly above the current price, could also signal confidence to others. The net impact on the stock price is uncertain, hence a neutral score.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90