TSLA shares rose 13 percent over 10 days ahead of 2Q results, Gary Black notes

TSLA shares rose 13 percent over 10 days ahead of 2Q results, Gary Black notes
TSLA jumps 13 percent before 2Q deliveries

Gary Black, managing partner and investor at The Future Fund, highlights that investors anticipated Tesla's 2Q deliveries to exceed Wall Street consensus of 406,000.

Black points out that this expectation was reflected in the TSLA stock price, which increased 13 percent from $370 to $425 over the past 10 days, outpacing the Nasdaq 100 index gain of 4 percent in the same period.

Black has previously compared valuations, noting investors pay 150 times 2026 EV/EBITDA for SPCX while NVDA trades at 19 times for the same period in a recent analysis. In an earlier commentary, he highlighted the SPCX IPO opening at $150 and rising to $164, referencing a similar move seen in the META IPO in 2012 (article). These observations provide further context for Black's market perspectives.

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