[Rumor Risk Rating]
✅ True
Tesla analyst Gary Black and his firm, The Future Fund, have sold their entire stake in Tesla (TSLA). This marks the first time since 2021 that Black has not held a position in the company. The decision was driven by concerns over Tesla’s valuation, specifically a price-to-earnings (P/E) ratio for 2025 that Black considers unsustainably high at 188x, as well as declining earnings estimates and weaker-than-expected delivery numbers for 2025. Black cited that the fundamentals no longer justify the current stock price, and the firm exited its position at $358 per share[1][3].
He also reiterated a $310 price target for TSLA and identified risks related to upcoming product releases and potential further reductions in delivery estimates[1][2][3]. Multiple reputable financial sources confirm that Black and The Future Fund have fully divested from Tesla as of late May 2025[1][2][3][4].