Investor Gary Black Exits Tesla Position Due to High Stock Valuation, Draws Comparison with Amazon

Gary Black, a finance expert and managing director of The Future Fund LLC, has exited his position in Tesla due to the company's stock valuation. He compares Tesla's early days to Amazon's, stating that Tesla's infrastructure is similar to Amazon's fulfillment and distribution network. However, Black believes that competition in the EV market and Nvidia's democratization of autonomy with Alpamayo technology have contributed to Tesla's stock price running ahead of his estimates. Despite this, he still likes Tesla as a company but not the stock.