

Investor's Corner
Tesla investor who predicted 2020 stock surge unloads shares
Tesla investor Gary Black, a former Bernstein analyst, has decided to offload his Tesla shares after accurately predicting the over 700% surge in the automaker’s stock price in 2020. Black announced this morning that the “absence of clear FY’21 delivery guidance,” and other factors were the reason for his decision.
Black posted a Tweet on Monday morning announcing that he has exited his TSLA positions after being a long-term shareholder since August 2019. In addition to Tesla’s undefined delivery guidance for 2021, “increased odds of a 1Q miss, and a more risky capital allocation policy/higher earnings variability were the primary factors,” he said.
Disclosure: I have exited my $TSLA positions after being long since August 2019. The absence of clear FY’21 delivery guidance, increased odds of a 1Q miss, and a more risky capital allocation policy/higher earnings variability were the primary factors.
— Gary Black (@garyblack00) February 8, 2021
In other tweets, Black explained his distaste of the company’s decision to invest in Bitcoin. “It’s a small risk from a valuation standpoint,” he said. “On the other hand, it adds more volatility to TSLA’s earnings stream, and may highlight a change in risk tolerance within $TSLA.”
I have to think about it and will try to speak with the company. At a $1.5B maximum loss ($1.30/share), it’s a small risk from a valuation standpoint. On the other hand, it adds more volatility to TSLA’s earnings stream, and may highlight a change in risk tolerance within $TSLA.
— Gary Black (@garyblack00) February 8, 2021
Black bought Tesla shares in August 2019 due to the expanding electric vehicle market, and Tesla had proven itself to be the most likely company to dominate the sector. With new vehicles that expanded across different segments, like the Cybertruck, Model Y crossover, and the Semi, along with the company’s expanding focus on battery production and affordability, it seemed like an ideal investment for Black to get involved with. He was right, as 2020 proved to be the company’s biggest year yet. It delivered just shy of 500,000 vehicles, produced over 509,000, and recorded profits in all four quarters.
Walking away with a tasty profit, Black says that he will look for a lower entry point to become a shareholder again. However, the lack of delivery guidance from Tesla during its Q4 2020 Earnings Call was something that didn’t sit well with some investors, Black being one of them.
Tesla is currently in the process of building two new production facilities: One in Germany and one in Texas. While both production plants are set to begin production in mid-2021, Tesla does not have a definitive start date for manufacturing or deliveries for either facility. Therefore, it is difficult for the company to outline an exact production or delivery rate.
The only concrete numbers Tesla offered during the Q4 Earnings session were located in its Shareholder Deck. It outlined Fremont and Giga Shanghai’s production of the Model S, Model 3, Model X, and Model Y, with a combined rate of 1,050,000 cars per year.
Credit: Tesla
But, this does not mean that Tesla will deliver that many cars. The production rate can be looked at as a “best-case scenario,” meaning if there are no production halts, malfunctions in equipment, or revisions to production lines, Tesla would likely produce 1,050,000 cars. Some analysts, like Bill Selesky of Argus, have estimated what Tesla will produce and deliver in 2021. Argus said in a note to investors that it expects Tesla to produce 952,000 cars this year.
Black added more comments regarding the company’s decision to invest in Bitcoin, and wrote:
“I go back to my criticism of $TSLA earnings calls, which already stood out for their vagueness, lack of detail, and non-discussion of strategic priorities. If $TSLA purchased $1.5B in #bitcoin in January, why not share the logic with shareholders on the earnings call?”
2/ I go back to my criticism of $TSLA earnings calls, which already stood out for their vagueness, lack of detail, and non-discussion of strategic priorities. If $TSLA purchased $1.5B in #bitcoin in January, why not share the logic with shareholders on the earnings call?
— Gary Black (@garyblack00) February 8, 2021
Disclosure: Joey Klender is a TSLA shareholder.
Investor's Corner
Cantor Fitzgerald maintains Tesla (TSLA) ‘Overweight’ rating amid Q2 2025 deliveries
Cantor Fitzgerald is holding firm on its bullish stance for the electric vehicle maker.

Cantor Fitzgerald is holding firm on its bullish stance for Tesla (NASDAQ: TSLA), reiterating its “Overweight” rating and $355 price target amidst the company’s release of its Q2 2025 vehicle delivery and production report.
Tesla delivered 384,122 vehicles in Q2 2025, falling below last year’s Q2 figure of 443,956 units. Despite softer demand in some countries in Europe and ongoing controversies surrounding CEO Elon Musk, the firm maintained its view that Tesla is a long-term growth story in the EV sector.
Tesla’s Q2 results
Among the 384,122 vehicles that Tesla delivered in the second quarter, 373,728 were Model 3 and Model Y. The remaining 10,394 units were attributed to the Model S, Model X, and Cybertruck. Production was largely flat year-over-year at 410,244 units.
In the energy division, Tesla deployed 9.6 GWh of energy storage in Q2, which was above last year’s 9.4 GWh. Overall, Tesla continues to hold a strong position with $95.7 billion in trailing twelve-month revenue and a 17.7% gross margin, as noted in a report from Investing.com.
Tesla’s stock is still volatile
Tesla’s market cap fell to $941 billion on Monday amid volatility that was likely caused in no small part by CEO Elon Musk’s political posts on X over the weekend. Musk has announced that he is forming the America Party to serve as a third option for voters in the United States, a decision that has earned the ire of U.S. President Donald Trump.
Despite Musk’s controversial nature, some analysts remain bullish on TSLA stock. Apart from Cantor Fitzgerald, Canaccord Genuity also reiterated its “Buy” rating on Tesla shares, with the firm highlighting the company’s positive Q2 vehicle deliveries, which exceeded its expectations by 24,000 units. Cannacord also noted that Tesla remains strong in several markets despite its year-over-year decline in deliveries.
Elon Musk
Tesla analyst issues stern warning to investors: forget Trump-Musk feud

A Tesla analyst today said that investors should not lose sight of what is truly important in the grand scheme of being a shareholder, and that any near-term drama between CEO Elon Musk and U.S. President Donald Trump should not outshine the progress made by the company.
Gene Munster of Deepwater Management said that Tesla’s progress in autonomy is a much larger influence and a significantly bigger part of the company’s story than any disagreement between political policies.
Munster appeared on CNBC‘s “Closing Bell” yesterday to reiterate this point:
“One thing that is critical for Tesla investors to remember is that what’s going on with the business, with autonomy, the progress that they’re making, albeit early, is much bigger than any feud that is going to happen week-to-week between the President and Elon. So, I understand the reaction, but ultimately, I think that cooler heads will prevail. If they don’t, autonomy is still coming, one way or the other.”
BREAKING: GENE MUNSTER SAYS — $TSLA AUTONOMY IS “MUCH BIGGER” THAN ANY FEUD 👀
He says robotaxis are coming regardless ! pic.twitter.com/ytpPcwUTFy
— TheSonOfWalkley (@TheSonOfWalkley) July 2, 2025
This is a point that other analysts like Dan Ives of Wedbush and Cathie Wood of ARK Invest also made yesterday.
On two occasions over the past month, Musk and President Trump have gotten involved in a very public disagreement over the “Big Beautiful Bill,” which officially passed through the Senate yesterday and is making its way to the House of Representatives.
Musk is upset with the spending in the bill, while President Trump continues to reiterate that the Tesla CEO is only frustrated with the removal of an “EV mandate,” which does not exist federally, nor is it something Musk has expressed any frustration with.
In fact, Musk has pushed back against keeping federal subsidies for EVs, as long as gas and oil subsidies are also removed.
Nevertheless, Ives and Wood both said yesterday that they believe the political hardship between Musk and President Trump will pass because both realize the world is a better place with them on the same team.
Munster’s perspective is that, even though Musk’s feud with President Trump could apply near-term pressure to the stock, the company’s progress in autonomy is an indication that, in the long term, Tesla is set up to succeed.
Tesla launched its Robotaxi platform in Austin on June 22 and is expanding access to more members of the public. Austin residents are now reporting that they have been invited to join the program.
Elon Musk
Tesla surges following better-than-expected delivery report
Tesla saw some positive momentum during trading hours as it reported its deliveries for Q2.

Tesla (NASDAQ: TSLA) surged over four percent on Wednesday morning after the company reported better-than-expected deliveries. It was nearly right on consensus estimations, as Wall Street predicted the company would deliver 385,000 cars in Q2.
Tesla reported that it delivered 384,122 vehicles in Q2. Many, including those inside the Tesla community, were anticipating deliveries in the 340,000 to 360,000 range, while Wall Street seemed to get it just right.
Tesla delivers 384,000 vehicles in Q2 2025, deploys 9.6 GWh in energy storage
Despite Tesla meeting consensus estimations, there were real concerns about what the company would report for Q2.
There were reportedly brief pauses in production at Gigafactory Texas during the quarter and the ramp of the new Model Y configuration across the globe were expected to provide headwinds for the EV maker during the quarter.
At noon on the East Coast, Tesla shares were up about 4.5 percent.
It is expected that Tesla will likely equal the number of deliveries it completed in both of the past two years.
It has hovered at the 1.8 million mark since 2023, and it seems it is right on pace to match that once again. Early last year, Tesla said that annual growth would be “notably lower” than expected due to its development of a new vehicle platform, which will enable more affordable models to be offered to the public.
These cars are expected to be unveiled at some point this year, as Tesla said they were “on track” to be produced in the first half of the year. Tesla has yet to unveil these vehicle designs to the public.
Dan Ives of Wedbush said in a note to investors this morning that the company’s rebound in China in June reflects good things to come, especially given the Model Y and its ramp across the world.
He also said that Musk’s commitment to the company and return from politics played a major role in the company’s performance in Q2:
“If Musk continues to lead and remain in the driver’s seat, we believe Tesla is on a path to an accelerated growth path over the coming years with deliveries expected to ramp in the back-half of 2025 following the Model Y refresh cycle.”
Ives maintained his $500 price target and the ‘Outperform’ rating he held on the stock:
“Tesla’s future is in many ways the brightest it’s ever been in our view given autonomous, FSD, robotics, and many other technology innovations now on the horizon with 90% of the valuation being driven by autonomous and robotics over the coming years but Musk needs to focus on driving Tesla and not putting his political views first. We maintain our OUTPERFORM and $500 PT.”
Moving forward, investors will look to see some gradual growth over the next few quarters. At worst, Tesla should look to match 2023 and 2024 full-year delivery figures, which could be beaten if the automaker can offer those affordable models by the end of the year.
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