Core Viewpoint - Investor Gary Black has exited his position in Tesla Inc. due to concerns over its stock valuation and increased competition in the electric vehicle (EV) market [1][4]. Group 1: Tesla's Valuation and Market Position - Black compared Tesla's current valuation to Amazon's early days, noting that he invested in Amazon despite its infinite P/E ratio because he recognized its potential in retail [2][6]. - Tesla was previously Black's fund's largest position, attributed to its unique ability to produce high-quality EVs at a significant cost advantage [4]. - The decision to exit Tesla was influenced by the penetration of competition in the EV market and the stock price exceeding Black's valuation estimates [4]. Group 2: Future Trends and Competitors - Black sees a similar trend emerging in autonomous driving, with many competitors beginning to offer unsupervised autonomous ride-hailing services, facilitated by advancements in technology from companies like Nvidia [5]. - Despite the exit from Tesla stock, Black maintains a positive view of the company itself, indicating a distinction between the company's potential and its current stock valuation [5]. Group 3: Tesla's Sales Performance - Tesla's Model Y was the best-selling EV in the U.S. last year, with over 357,528 units sold, and the introduction of a 7-seater layout version could further enhance sales [6].

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk's surprise announcement to offer the company's Full Self-Driving (FSD) technology as a subscription service only starting next month has raised questions about the motive behind the move and whether it could be tied to tranches outlined in the trillion-dollar pay package approved last November by investors.The AnnouncementMusk shared the announcement via a post on the social media platform X in the wee hours of Wednesday, saying that the company would stop selling FSD ...