Gary Black, managing partner at The Future Fund, shared his outlook on Tesla Inc (NASDAQ:TSLA), stressing that “many TSLA investors still conflate valuation and stock price.” What Happened: In response to Tesla’s electric vehicle price cuts in October 2022, The Future Fund reduced its Tesla earnings estimates and price target, expecting minimal volume growth. Black noted, “We cut our TSLA position from 12.2% in Oct 2022 to ~4%,” a decision validated as Wall Street’s 2024 earnings per share estimate for Tesla fell 60% over the past two years, pulling down valuations and stock price. Looking ahe…
