Tesla Bull Gary Black Rues Attacks From Fellow Bulls, Says Opposing Management Strategy Is Not 'Attacking Elon'

Tesla, Inc. TSLA investor Gary Black rued the backlash he receives from fellow bulls for being forthright about his views regarding the electric vehicle giant.

What Happened: “Beware $TSLA bulls who trash other TSLA bulls. Instead ask yourself why are they trashing a fellow TSLA bull,” he said in a post on X. He emphasized that in the institutional world, challenging convictions is a norm to identify potential risks a stock might face.

Beware $TSLA bulls who trash other TSLA bulls. Instead, ask yourself why are they trashing a fellow TSLA bull? Many of us bulls grew up in the institutional world where it's normal and in fact encouraged to challenge each others' convictions and identify potential risks of a…

— Gary Black (@garyblack00) November 28, 2023

In his post, Black defended the importance of active debate on the risks associated with Tesla’s strategy, emphasizing that those who disagree with management are not necessarily attacking its CEO, Elon Musk. He highlighted that healthy debates are a fundamental aspect of real-world investing.

“Don't shoot down fellow TSLA bulls who actively debate the risks,” he said. “Those who disagree with mgmt's strategy….are not ‘attacking Elon,'”

See Also: Everything You Need To Know About Tesla Stock

Why It Matters: Tesla and Musk have a fervent online following that often discourages criticism. 

Despite being optimistic about Tesla’s dominance in the electric vehicle (EV) sector due to its scale and growth levers, Black has expressed concerns about aggressive margin-eroding price cuts implemented by the company. He has long argued for advertising the benefits of EV adoption rather than relying solely on price cuts.

Black also sees significant advantages in the swift launch of Tesla’s $25,000 EV model. Recently, he attributed Tesla’s stock underperformance in part to Musk’s Twitter buy, as Musk had to sell some shares to finance the acquisition.

Tesla holds the second-largest position in Future Fund’s The Future Fund Active ETF FFND, with a 7.28% weighting, compared to the top holding, Alphabet Inc., which has a 10.98% weight.

Tesla ended Tuesday’s session up 4.51% to $246.72, according to Benzinga Pro data.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read Next: ‘Order Boost’ Coming For All Tesla EVs In December, Says Analyst: What’s Behind The Optimism?

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