This Tesla Bull Won't 'Blindly Change' His Position And Resume Buying The Stock Despite Recent Upside: 'We'd Wait Until After...'
This Tesla Bull Won't 'Blindly Change' His Position And Resume Buying The Stock Despite Recent Upside: 'We'd Wait Until After...'
Tesla Inc. (NASDAQ:TSLA) has been on an uninterrupted rally since June 25, gaining 35% in just seven sessions. Despite this, the recent surge has not evinced confidence in a fund manager who substantially trimmed his Tesla position in early 2024 amid the electric vehicle maker's fundamental woes.
自6月25日以來，特斯拉公司（NASDAQ:TSLA）已持續上漲，僅7個交易日就上漲了35％。儘管如此，最近的漲勢並未增強基金經理對該電動汽車製造商的基本困境的信心，並在2024年初實質性地削減了他的特斯拉持倉。
What Happened: Bombarded with questions from social media users, Future Fund Managing Partner Gary Black was forced to respond as to when would be the right time for the firm to restock Tesla shares. The stock now has a 3.6% weighting in Future Fund Active ETF (NYSE:FFND), the actively-traded flagship exchange-traded fund of the Black-led firm.
在社交媒體用戶的問題攻擊下，未來基金管理合夥人Gary Black被迫回應，什麼才是對該機構重新進貨特斯拉股票的適當時機。該股現在在Black領導的機構的主動交易旗艦交易所交易基金Future Fund Active ETF (NYSE:FFND)中佔3.6％的權重。
"We don't trade. And we don't blindly change our position size..... just because the stock price is up," Black said. Delving into his firm's strategy, the fund manager said the team constantly evaluates position sizes based on its assessment of upside/downside.
Black說：“我們不交易。我們也不因爲股價上漲就盲目改變我們的頭寸大小...... ”。深入探討他所在機構的策略，基金經理表示，團隊不斷評估頭寸大小，基於其對上漲/下跌的評估。
Black noted that Tesla's 2024 and 2025 forward estimates have declined by 49% and 44%, respectively, over the past 12 months. It's hard for "disciplined" portfolio managers to add to Tesla positions until the earnings trajectory reverses, he said.
Black指出，在過去的12個月中，特斯拉2024年和2025年的預測下降了49％和44％，只有收益趨勢扭轉了，”守信的“投資組合經理才容易增加特斯拉的頭寸。
That said, the fund manager thinks things could be starting to reverse but is not yet ready to dive back into the stock. "We'd wait until after 2Q earnings to draw any conclusions. We'd like to see more evidence of pricing discipline," he said.
儘管如此，基金經理認爲事情可能開始逆轉，但還沒有準備好重新投資這家公司。他說：“在二季度業績之後才能得出任何結論。我們要看到價格紀律證據更多。”
Why It's Important: Last week, Tesla reported second-quarter deliveries that came in ahead of muted expectations. Despite deliveries declining year-over-year for a second straight quarter, the outperformance relative to expectations led to buoyancy in the stock.
爲什麼這很重要：上週，特斯拉發佈了二季度交付報告，超出市場的預期。儘管交付量連續第二個季度同比下降，但相對於預期表現出色，股票勢頭良好。
Cautious analysts point out that the sales beat may have been achieved on the back of the copious financing incentives the company facilitated for buyers.
謹慎的分析師指出，銷售增長可能是由於公司爲買家提供的豐富的融資補貼而實現的。
The second-quarter earnings report, due July 23, will offer more cues on the margin trajectory. The management could shed more light on the progress with the company's full self-driving software or FSD, which is currently sold as a "Supervised" version. Investors may be particularly interested in the take rate of FSD as the technology is a source of high-margin recurring revenue.
7月23日公佈的二季報將在利潤軌跡上提供更多線索。管理層可能會更詳細地介紹公司全自動駕駛軟件或FSD的進展，該軟件目前作爲“監控”版本出售。投資者可能會特別關注FSD的收費率，因爲這項技術是高毛利潤的重要來源。
Updates on upcoming models, including the low-end EV, could also evince some interest.
即將推出的車型更新，包括低端電動汽車，可能也會引起一些興趣。
The Aug. 8 robotaxi unveil event could be another stock-moving catalyst depending on what Elon Musk and team have got to say.
8月8日的機器人出租車揭幕式活動可能是另一個影響股價的催化劑，具體取決於伊隆·馬斯克和團隊的發言。
Price Action: Tesla stock, which currently trades at the highest level since Jan. 2 (both on an intraday and closing basis), ended Wednesday's session up 6.54% at $246.39, according to Benzinga Pro data.
價格行動：特斯拉股票目前處於自1月2日以來的最高水平（日內和收盤基礎），根據Benzinga Pro數據，週三收盤漲6.54％，報246.39美元。
譯文內容由第三人軟體翻譯。