- Future Fund Managing Partner Gary Black warns Tesla stock may remain “moribund” until CEO Elon Musk proves Cybercabs can operate without safety monitors and scale beyond mapped cities.
- Nevada approved only 10 Cybercabs after Tesla requested authorization for 5,000 vehicles, with permits requiring “appropriate human supervision.”
- France opposed approval of Tesla’s Full Self-Driving system in its current form, citing concerns about speeding and insufficient driver attention during complex maneuvers.
Future Fund Managing Partner Gary Black said Tuesday that Tesla (TSLA) stock could stay “moribund” until CEO Elon Musk demonstrates Cybercabs can operate without safety monitors and expand beyond mapped cities, according to a post on X.
Black also highlighted TSLA’s underperformance versus the Nasdaq-100 over five years, with NDX up roughly 96% while TSLA shares gained about 50%.
“Until Elon Musk puts on the road Cybercabs without safety monitors and scales it to cities not already mapped out, TSLA stock will remain moribund,” Black said.
He expressed skepticism about Tesla bulls’ excitement, noting “no evidence” that the Cybercab can drive itself “flawlessly” without safety monitors.
“Bulls are again whooping it up as if TSLA has alone solved for unsupervised autonomy,” Black added.
He believes Tesla will be among the first to achieve generalized unsupervised autonomy, but expects rivals such as Waymo, Baidu and Zoox to reach the same milestone.
Tesla said in its second-quarter earnings update that Cybercab production had begun and its Robotaxi rollout reached seven major metropolitan areas.
However, Nevada recently approved only 10 vehicles after Tesla sought authorization for 5,000, with the permit requiring “appropriate human supervision,” according to a report by Axios.
France also opposed approval of Tesla’s FSD system in its current form last month, with Transport Minister Philippe Tabarot citing concerns about speeding and insufficient driver attention during complex urban maneuvers.
FSD remains a supervised driver-assistance system rather than fully autonomous technology.
Retail sentiment on Stocktwits stayed ‘bullish’ over the past 24 hours, though TSLA has declined more than 22% year-to-date and is the biggest laggard among the Magnificent 7 stocks.
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