This Tesla Bull Won't 'Blindly Change' His Position And Resume Buying The Stock Despite Recent Upside: 'We'd Wait Until After…'
Portfolio Pulse from Shanthi Rexaline
Tesla Inc. (NASDAQ:TSLA) has seen a 35% rally since June 25, but Future Fund Managing Partner Gary Black remains cautious. Despite the surge, Black's firm, which has a 3.6% weighting in Tesla through its Future Fund Active ETF (NYSE:FFND), is not ready to increase its position until after the 2Q earnings report. Tesla's forward estimates have declined significantly, and Black wants to see more evidence of pricing discipline before making any moves.
July 05, 2024 | 3:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Future Fund Active ETF (FFND) has a 3.6% weighting in Tesla. The fund manager, Gary Black, is cautious about increasing the position until after the 2Q earnings report, despite Tesla's recent rally.
The cautious stance on Tesla by the fund manager suggests a neutral short-term impact on FFND. The fund's performance will be closely tied to Tesla's 2Q earnings report.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
Tesla has rallied 35% since June 25, but Future Fund's Gary Black is cautious about increasing the fund's position until after the 2Q earnings report. Tesla's forward estimates have declined significantly, and Black wants to see more evidence of pricing discipline.
Despite the recent rally, the fund manager's cautious stance and the significant decline in Tesla's forward estimates suggest a neutral short-term impact. Investors are likely to wait for the 2Q earnings report for more clarity.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100