TSLA falls 3 percent after hours on 3Q results, Gary Black notes

TSLA falls 3 percent after hours on 3Q results, Gary Black notes
TSLA falls 3 percent post-3Q results

TSLA shares fell 3 percent in after-hours trading even though the company exceeded third-quarter estimates for earnings, auto gross margin excluding regulatory credits, and free cash flow.

Gary Black, managing partner and investor at The Future Fund, said TSLA's CFO, Taneja, did not help matters on the earnings call when an RBC analyst inquired about the 75 percent North America attachment rate given the first month is free.

Earlier this month, Gary Black took a cautious stance on TSLA as he cited negative earnings revisions and concerns over unsupervised autonomy in a previous analysis. Separately, he highlighted recent gains in U.S. tech shares following strong results from SPCX, which supported stocks such as Tesla and Nvidia in the third quarter, as noted in another report. These observations add context to his latest commentary after the earnings call.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.