The recent downturn in Tesla Inc.'s (NASDAQ:TSLA) shares is more likely due to a broader sell-off in AI stocks than a potential share sale by Elon Musk, according to Gary Black.
What Happened: On Friday, the managing partner at The Future Fund, refuted the idea that Musk was offloading Tesla shares to meet financial obligations for X before the Q3 trading window closes.
Instead, he identified a guidance miss by Broadcom Inc. (NASDAQ:AVGO) as the probable trigger for the selloff in AI stocks selloff, which includes Tesla because of the EV giant's AI play due to full self-driving, or FSD, among other things.
Black's assessment indicates that Tesla's stock price drop aligns with the performance of other AI stocks such as NVIDIA Corporation (NASDAQ:NVDA), Advanced Micro Devices, Inc. (NASDAQ:AMD), and Marvell Technology Group Ltd. (NASDAQ:MRVL), all of which have seen significant declines.
"It would be easy to conclude Elon is selling Tesla shares (-5.5%) today to plug the X liquidity hole before the 3Q trading window closes, but I don't think it's that," he noted.
Instead, Tesla, as a member of the AI sector, is undergoing a similar downturn to those of these other AI stocks, Black stated.
It would be easy to conclude Elon is selling $TSLA shares (-5.5%) today to plug the X liquidity hole before the 3Q trading window closes, but I don't think it's that. More likely, the $AVGO guidance miss (-9.7%) is causing a lot of AI stocks to sell off ( $NVDA -4.5%, $AMD...
— Gary Black (@garyblack00) September 6, 2024
Why It Matters: Previously, it was reported that despite the industry-wide downturn, Tesla has expanded its ancillary businesses. The EV giant has also gained favor by avoiding missteps like those made by General Motors and Volkswagen.
However, the AI sector, including Tesla, has been impacted by a broader sell-off, as evidenced by the sharp premarket trading drop in Nvidia stock on Friday.
Nvidia saw a dramatic $279 billion decline in its market value shortly after the company announced its quarterly financial results.
Despite sales doubling, the results fell short of investor expectations. The news led to a 2.1% drop in the S&P 500—its largest single-day decline since early August.
That said, September is known for increased volatility and market corrections, making this turbulence not unusual for U.S. stocks.
Price Action: Tesla shares closed Friday's trading session significantly down by 8.45% at $210.73. In after-hours trading, the stock climbed slightly, reaching $211.50, according to Benzinga Pro.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Gary Black认为，特斯拉公司 (NASDAQ：TSLA) 股价近期下跌更有可能是由于人工智能股票的普遍抛售，而不是埃隆·马斯克可能出售股票。
发生了什么：周五，The Future Fund合伙人否认了马斯克在第三季度交易窗口关闭前抛售特斯拉股票以履行 X 财务义务的说法。
相反，他认为博通公司 (NASDAQ:AVGO) 未能达到预期可能是引发人工智能股票抛售的可能原因，其中包括特斯拉，因为这家电动汽车巨头在全自动驾驶 (FSD) 等技术上投入了人工智能。
Black的评估表明，特斯拉股价下跌与其他人工智能股票的表现一致，例如 NVIDIA Corporation (NASDAQ:NVDA)、Advanced Micro Devices, Inc. (NASDAQ:AMD) 和 Marvell Technology Group Ltd. (NASDAQ:MRVL)，这些股票均出现了大幅下跌。
“很容易得出这样的结论：Elon今天抛售特斯拉股票（-5.5%）是为了在第三季度交易窗口关闭前填补X流动性漏洞，但我认为事实并非如此，”他指出。
相反，Black表示，作为人工智能领域的一员，特斯拉正经历与其他人工智能股票类似的低迷。
很容易得出这样的结论：埃隆今天正在出售 $TSLA 股票（-5.5%），以在第三季度交易窗口关闭之前填补 X 流动性漏洞，但我认为并非如此。更有可能的是，$AVGO 的指导不及预期（-9.7%）导致大量 AI 股票被抛售（$NVDA -4.5%，$AMD...
Gary Black (@garyblack00) 2024年9月6日
为什么重要：此前有报道称，尽管全行业低迷，但特斯拉仍在扩大辅助业务。这家电动汽车巨头还通过避免通用汽车和大众那样的失误而获得了青睐。
然而，包括特斯拉在内的人工智能行业受到了更广泛的抛售的影响，周五英伟达股价盘前大幅下跌就是明证。
英伟达在公布季度财务业绩后不久，市值就大幅缩水了 2790 亿美元。
尽管销售额翻了一番，但业绩仍未达到投资者的预期。该消息导致标普 500 指数下跌 2.1%，创下自 8 月初以来的最大单日跌幅。
尽管如此，9 月份以波动性增加和市场调整而闻名，因此这种动荡对美国股市来说并不罕见。
股价走势：特斯拉股票在周五的交易中大幅下跌了8.45%，至210.73美元。在盘后交易中，股价稍微上涨，达到211.50美元，根据Benzinga Pro的数据。
免责声明：本内容部分使用人工智能工具生成，并经Benzinga编辑审核发布。
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