Tesla Inc.‘s (NASDAQ:TSLA) shares fell 6% Tuesday as part of a broader market rebalancing of stocks that have rallied on President-elect Donald Trump’s campaign momentum, with The Future Fund LLC, Managing Partner Gary Black providing analysis of the move and valuation concerns.
What Happened: The decline comes as hedge funds rebalance positions after Tesla shares surged 36% since November, significantly outpacing the Nasdaq 100’s 4% gain during the same period. Black noted that Tesla’s forward earnings estimates have remained largely unchanged, with fiscal year 2025 and 2029 projections increasing by less than 1%.
“Many hedge funds with big gains will rebalance positions when a position size gets out of whack with model allocations,” Black wrote on X, formerly Twitter. He emphasized that while having a supportive president could streamline robotaxi deployment approvals, it wouldn’t necessarily improve Tesla’s Full Self-Driving technology capabilities.
The stock’s current valuation of 104 times projected …
Full story available on Benzinga.com
Tesla Inc.‘s (NASDAQ:TSLA) shares fell 6% Tuesday as part of a broader market rebalancing of stocks that have rallied on President-elect Donald Trump’s campaign momentum, with The Future Fund LLC, Managing Partner Gary Black providing analysis of the move and valuation concerns.
What Happened: The decline comes as hedge funds rebalance positions after Tesla shares surged 36% since November, significantly outpacing the Nasdaq 100’s 4% gain during the same period. Black noted that Tesla’s forward earnings estimates have remained largely unchanged, with fiscal year 2025 and 2029 projections increasing by less than 1%.
“Many hedge funds with big gains will rebalance positions when a position size gets out of whack with model allocations,” Black wrote on X, formerly Twitter. He emphasized that while having a supportive president could streamline robotaxi deployment approvals, it wouldn’t necessarily improve Tesla’s Full Self-Driving technology capabilities.
The stock’s current valuation of 104 times projected …
Full story available on Benzinga.com
Tesla Inc.‘s (NASDAQ:TSLA) shares fell 6% Tuesday as part of a broader market rebalancing of stocks that have rallied on President-elect Donald Trump’s campaign momentum, with The Future Fund LLC, Managing Partner Gary Black providing analysis of the move and valuation concerns.
What Happened: The decline comes as hedge funds rebalance positions after Tesla shares surged 36% since November, significantly outpacing the Nasdaq 100’s 4% gain during the same period. Black noted that Tesla’s forward earnings estimates have remained largely unchanged, with fiscal year 2025 and 2029 projections increasing by less than 1%.
“Many hedge funds with big gains will rebalance positions when a position size gets out of whack with model allocations,” Black wrote on X, formerly Twitter. He emphasized that while having a supportive president could streamline robotaxi deployment approvals, it wouldn’t necessarily improve Tesla’s Full Self-Driving technology capabilities.
The stock’s current valuation of 104 times projected …Full story available on Benzinga.com Read MoreDonald Trump, Equities, Gary Black, Kaustubh Bagalkote, News, robotaxi, The Future Fund LLC, TSLA, Global, Markets, TSLA, US88160R1014, News, Equities, Global, Markets, Benzinga Markets
