The Future Fund’s managing partner, Gary Black, said on Saturday that Tesla Inc.’s (NASDAQ:TSLA) rumored sub-$30,000 electric vehicle from the Elon Musk-led company could have a “huge upside”, but warned that the EV giant lacks the marketing muscle needed to capitalize on it.
What’s Driving The Model Q Revival?
On Saturday, Black, a well-known Tesla investor, took to X to express his views on the potential reintroduction of Tesla’s below $30,000 Model Q compact car. Black suggested that the reemergence of the Model Q could be due to challenges in achieving Musk’s autonomous vehicle goals or a realization that canceling the car was a mistake.
Black also noted that despite the potential for significant growth, Tesla may struggle to effectively market the Model Q due to its current lack of marketing prowess.
“TSLA lacks the marketing muscle to execute on such a product even if it launches it,” the vocal Tesla commentator wrote on X.
Black’s post was in response to a user who pointed out that the new Model Q is expected to be a major catalyst for Tesla’s stock, citing a Reuters report.
Intensifying Competition
Black’s comments come as Tesla faces intensifying competition, with BYD Co. (OTC:BYDDY) (OTC:BYDDF) nearly matching Tesla’s global deliveries in the first quarter through strong export growth, while also overtaking the Musk-led company in annual EV leadership after a second consecutive year of declining sales.
This development comes at a crucial time for Tesla, which has been facing a series of challenges. Black recently attributed the company’s eight-week stock decline to disappointing delivery figures and doubts about the company’s robotaxi capabilities.
He also criticized Tesla bulls for attacking a bearish JP Morgan note, emphasizing that the analyst had been right about Tesla’s performance for the past five years.
Tesla has a market capitalization of $1.09 trillion, with a 52-week high of $498.83 and a 52-week low of $222.79.
Benzinga’s Edge Stock Rankings indicates TSLA stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Recent Comments