Gary Black Warns Tesla Q2 Deliveries Will 'Disappoint' — Says Cheaper Models Could Cannibalize Sales And See Ideal Re-Entry 22% Below Current Levels

Investor Gary Black, the founder of The Future Fund, has issued a cautious outlook on Tesla Inc.’s (NASDAQ:TSLA) upcoming second-quarter deliveries, saying that the EV giant is likely to miss estimates.

What Happened: On Saturday, in a post on X, Black projected that the company would deliver around 370,000 vehicles in Q2, marking a 17% year-over-year decline, while falling short of consensus estimates by Wall Street analysts at 385,000, or 13% before estimates.

“We expect TSLA 2Q deliv[erie]s due out next week to disappoint,” Black said, adding that the ideal re-entry price for the stock would be “in the $250 range,” which he notes is 30% below the price that his fund had exited a couple of weeks ago, at $358 a share.

See Also: Elon Musk Reveals The Lunch That Launched Tesla: ‘Do You Mind If I Do That?’

Black also cautions that the company’s widely anticipated, upcoming affordable models could end up cannibalizing its sales instead of expanding its total addressable market, if they end up being just stripped-down versions of the existing Model 3 or the Model ...