Black explained that the reason for relatively little movement in the company’s shares is that the hype has worn off.
The Future Fund’s Managing Partner, Gary Black, on Friday explained why there is so little movement in Tesla Inc.’s (TSLA) stock after major positive events.
Add Asianet Newsable as a Preferred Source
In a post on X, Black referred to the approval of Tesla CEO Elon Musk’s $1 trillion pay package. He explained that the reason for relatively little movement in the company’s shares is that the hype has worn off. “Yesterday’s favorable comp vote was widely expected,” Black said.
Tesla shares were down more than 1% in Friday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘neutral’ territory at the time of writing.
Get updates to this developing story directly on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
