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Ross Gerber, Cathie Wood Or Gary Black? Whose Funds Stack Up Against S&P 500's Gains In 2024?In 2024, prominent fund managers Gary Black, Ross Gerber, and Cathie Wood have shown mixed results against the S&P 500's impressive 25.97% year-to-date return. Black's Future Fund Active ETF has nearly matched the broader market's gains, while Gerber's AdvisorShares Gerber Kawasaki ETF has also delivered strong performance. However, Wood's flagship ARK Innovation ETF has lagged behind.Benzinga · Nov 12, 2024

Cult Of Tesla Crumbling: Early 'Die-Hard' Backers Bail As Musk's EV Empire Faces Reality Check Amid Stock SlumpTesla, Inc. (NASDAQ:TSLA) shares have been on a downward trend for over two years, underperforming the broader market. A recent report suggests some early backers are losing faith amid the company’s flailing fundamentals. What Happened: John Belton, a portfolio manager at Gabelli Funds, believes Tesla’s stock price is disconnected from its fundamentals, according to Reuters. “We think the stock works best when there are auto company fundamentals that justify the stock price,” he added. Gabelli Funds entirely sold its Tesla holdings by the end of the first quarter of 2024. It previously held 65,900 shares valued at $16.37 million at the end of the fourth quarter of 2023. Slowing Growth & Shifting Strategies Tesla’s robust sales growth, even during the pandemic, began to slow in 2022, reflecting industry-wide trends and weaker economic conditions impacting discretionary spending. Price cuts implemented to boost volume failed to significantly improve margins. Investors who witnessed the meteoric rise coinciding with the Model Y launch in early 2020 have largely held on despite the recent downturn. However, their patience is wearing thin. See Also: Full story available on Benzinga.comBenzinga · Jun 5, 2024

Tesla Bull Gary Black Dismisses 'Insane Fear-Mongering' Over CEO Elon Musk's Pay Plan: 'Just Pay The Man What Is Due To Him'Tesla, Inc. (NASDAQ:TSLA) shares diverged from broader market gains on Monday, ending lower for the session. Fund manager and Tesla investor Gary Black tried to ease concerns about shareholders potentially rejecting the proposal to ratify CEO Elon Musk‘s compensation plan. What Happened: Addressing Tesla bulls worried about a possible shareholder rebuff and Musk leaving the company, Black said, “This is insane fear-mongering at its worst.” He expects shareholders to overwhelmingly approve the pay plan in 2024, as 73% did in 2018. In 2018, shareholders vetted the proposal before Tesla created eight times more value for its shareholders between 2018 and 2024, compared to the mere 1.6 times increase in the value of the Nasdaq 100 Index, he noted. “Just pay the man what is due him,” Black ...Full story available on Benzinga.comBenzinga · May 21, 2024

Why Rivian Stock Is Sliding Downhill Premarket TodayRivian Automotive, Inc. (NASDAQ:RIVN) shares fell sharply in Wednesday’s premarket session, a day after the EV maker reported its first-quarter results. The company reported quarterly revenue of $1.204 million, exceeding the consensus estimate of $1.16 billion. The loss per share of $1.45 was more than the $1.25 loss estimated by the Street. The company maintained its 2024 production guidance of 57,000 units. CFO Claire McDonough said on the earnings call that the 2024 capital expenditure guidance stands reduced by $550 million to $1.2 billion, attributing the cut to the savings stemming from the ...Full story available on Benzinga.comBenzinga · May 8, 2024

'Wow:' Elon Musk Stunned By Reminder Of How Tesla Bull's Optimistic 2021 Rivian Prediction 'Didn't Age Well' (CORRECTED)Editor’s note: This story has been corrected to clarify that Canoo and Fisker have issued “going concern” warnings, while only EV startup Arrival has filed for bankruptcy. Electric vehicle startups Rivian Automotive, Inc. (NASDAQ:RIVN) and Lucid Group, Inc. (NASDAQ:LCID) are facing a harsh market reality, mirroring the struggles of even industry leader Tesla, Inc. (NASDAQ:TSLA). Their stocks have plummeted, and Tesla CEO Elon Musk couldn’t help but chime in on the situation. Rivian’s Fall From Grace: A Tesla investor (@alojoh) recently reshared a post by Gary Black, managing partner of the Future Fund (NYSE:FFND), from November 2021. Back then, Black expressed optimism about Rivian, even at a $70 billion market cap, expecting them to produce 150,000 EVs annually by 2024 with $10 billion in revenue. Source: Y Charts See Also: Best Electric Vehicle Stocks However, reality painted a different picture. “Guess this didn't age well. Rivian stock dropped below $9.0 billion, a stock which Gary had bought even for $70B market capitalisation,” the ...Full story available on Benzinga.comBenzinga · Apr 15, 2024

Tesla's Growth Engine Stuttering? Deliveries Miss Looms As Analyst Questions High Valuation: 'Looks Vulnerable'Tesla, Inc. (NASDAQ:TSLA) is set to report its first-quarter deliveries early next week, and on Sunday, a fund manager reiterated his warning that the figures may significantly miss the current forecast. What Happened: Gary Black, managing partner of Future Fund, highlighted the risk of Tesla’s first-quarter volume falling well below the consensus estimate, which currently stands at 468,000 units. Black anticipates the number to be around 425,000 units, roughly on par with the year-ago volume of 423,000 units. He mentioned that Tesla’s Investor Relations-compiled consensus would be released on Friday or Saturday, with the company likely to announce the number on April 2. See Also: Everything You Need To Know About Tesla Stock What About Soft Numbers? Black suggested that Tesla investors may overlook the first-quarter shortfall due to the Model 3 upgrade at the ...Full story available on Benzinga.comBenzinga · Mar 25, 2024

Tesla Bull Recommends A 'Great Deal' For Elon Musk's EV Giant As It Grapples With Slowing Sales GrowthA well-known Tesla bull and Future Fund’s Managing Partner, Gary Black, on Wednesday reiterated his views that advertising can jumpstart Tesla Inc.’s (NASDAQ:TSLA) sagging volume growth. What Happened: A social-media user referred to a Tesla influencer’s post about the Elon Musk-led company handing over Cybertrucks to celebrities on priority over customers who preordered before them. The influencer said these celebrities with huge social-media following offer free advertising to the vehicle when they pose pictures with it and also potentially drive traffic to Tesla’s website. These people in turn will see the merits of the rest of Tesla’s products, he said. This is why advertising isn't needed imoOne could argue the iPhone was ahead of its time and above all competitors but Steve Jobs still NEEDED marketing. BUT social media wasn't much of a thing at that time. Full story available on Benzinga.comBenzinga · Mar 20, 2024

'Nothing Short Of Amazing:' Nvidia Analysts Praise AI Chipmaker's GTC Unveilings, But Stock Dips As Investors Digest NewsNvidia Corp. (NASDAQ:NVDA) shares fell in after-hours trading on Monday during the GTC 2024 keynote presentation by CEO Jensen Huang. A bullish analyst weighed in on the announcements made at the event. What Happened: Huang’s keynote was largely in line with expectations, according to KeyBanc Capital Markets analyst John Vinh in a note published Tuesday. The highlights of his address, as noted by the analyst, are as follows: Introduction of the next-gen GPU architecture Blackwell – B100 and B200 GPUs, with chip size two times that of H100. Announcement of a 40% higher pricing for the Blackwell GPU architecture relative to the previous iteration, the H100, which was priced at $35,000. Expectation of AI performance of B100 to be 2.5 to five times greater than H100. Introduction of the next-gen CPU+GPU ...Full story available on Benzinga.comBenzinga · Mar 19, 2024

Tesla Bull Suggests EV Giant Break Out AI Revenue And Profit As 4th Segment In Earnings Reports To Grab More Investor EyeballsFuture Fund Managing Partner Gary Black suggested on Monday that EV giant Tesla Inc (NASDAQ:TSLA) should consider adding a fourth segment focused on its Artificial Intelligence endeavors to its earnings reports. What Happened: Currently, Tesla’s earnings reports consist of three segments: automotive, energy, and services. By introducing AI as a fourth segment, the company could potentially attract greater investor attention to its full-self-driving (FSD) project and other AI initiatives, such as FSD licensing, robotaxis, Optimus, and Dojo, Black explained. According to Black, the addition of a fourth segment would allow investors to measure, track, and analyze Tesla’s AI ventures more effectively, thereby potentially enhancing Tesla’s valuation. In his post, the analyst and Tesla bull also tagged Tesla’s VP of Investor Relations, Martin Viecha. “Today, we estimate FSD is only $1B revs (out of $100B total revs) so likely not significant enough. But a segment that includes FSD, FSD licensing, robotaxi, Optimus, and Dojo would get a high P/E and could be measured and tracked by investors, which would be additive to TSLA's valuation,” he posted. Full story available on Benzinga.comBenzinga · Mar 19, 2024

Cathie Wood To Tesla's Rescue? Ark Invest Scoops Up $35M Of EV Giant's Sliding StockTesla, Inc. (NASDAQ:TSLA) shares have been on a downward spiral this year amid worries about the EV giant potentially missing first-quarter delivery targets. Undeterred by the recent weakness, Cathie Wood‘s Ark Investment Management actively bought Tesla shares on Thursday. Ark’s Pile-Up: Ark purchased a total of 216,682 Tesla shares across three of its actively managed exchange-traded funds on Thursday. The purchase, valued at $35.21 million based on Tesla’s closing price of $162.50, is broken down as follows: Ark Innovation ETF (ARKK): 161,956 shares ARK Autonomous Technology & Robotics ETF (ARKQ): 18,543 shares Ark Next Generation Internet ETF (ARKW): 36,183 shares Tesla Faces Headwinds Tesla’s stock has been on a broader downtrend since late 2021, with the decline accelerating since mid-2023. This can be attributed to several factors: EV ...Full story available on Benzinga.comBenzinga · Mar 15, 2024

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