Gary Black Says Tesla Is Losing EV Share to ‘No-Name’ Rivals Despite ‘Huge First-Mover Advantage’—Warns TSLA Needs Better Marketing

What happened: Investor Gary Black said Tesla (NASDAQ:TSLA) is losing U.S. EV market share to competitors and called for a stronger marketing and communications strategy. Key numbers: U.S. EV share fell from 80% in 2020 to roughly 52% today. Black cited a 200x+ P/E multiple. TSLA shares were up 0.22% to $400.67 in overnight trading. Why it matters: Black said that absent proactive marketing, the share decline will continue, which he said makes it mathematically impossible to justify TSLA's multiple. He named Hyundai, Toyota, GM, Ford and Rivian among the biggest gainers. Market: -0.9% today ($12.25), -6.0% YTD, 1.0x vol — as of 00:45 UTC

Investor Gary Black said Tesla (NASDAQ:TSLA) is losing U.S. EV market share to competitors and called for a stronger marketing and communications strategy.

Black said that absent proactive marketing, the share decline will continue, which he said makes it mathematically impossible to justify TSLA's multiple. He named Hyundai, Toyota, GM, Ford and Rivian among the biggest gainers. Market: -0.9% today ($12.25), -6.0% YTD, 1.0x vol — as of 00:45 UTC