Tesla To $500? Investor Gary Black Thinks This Can Drive A 17% TSLA Rally

Investor Gary Black of The Future Fund LLC believes this critical Robotaxi milestone will lead to Tesla Inc. (NASDAQ:TSLA) shares surging over 17%.

Check out the current price of TSLA here.

Unsupervised Robotaxis

In a response to a post on the social media platform X on Tuesday, the investor shared that Tesla stock could get to $500 if the Elon Musk-led company had "hundreds" of unsupervised Robotaxis in Austin and more.

The investor then shared his reasoning behind the claim, outlining that such a milestone would demonstrate that Tesla "can scale up unsupervised autonomy anywhere in the world."

Importance Of Unsupervised Autonomy 

The investor has been a vocal proponent of the importance of unsupervised Robotaxis for Tesla, calling it a "major catalyst" for the company. However, Black has also cautioned that the automaker wouldn't be alone in solving autonomous driving, as Nvidia Corp (NASDAQ:NVDA) revealed its Alpamayo technology last month, which could help OEMs adopt autonomy.

Tesla Robotaxi Avoids Collision

Recently, a user on the social media platform X shared a video that showcased a Tesla unsupervised Robotaxi swerving to avoid a collision with an oncoming Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo Robotaxi, which appeared to cross the marked yellow lines on the road.

Waymo has been under scrutiny following multiple incidents involving its Robotaxis, with one of its “Ojai” Robotaxis crashing into multiple parked vehicles near Los Angeles’ Echo Park area, as confirmed with surveillance footage and eyewitness reports.

The other incident involved a Waymo vehicle colliding with a child in Sacramento, California, near an elementary school. Following the incident, NHTSA said that 3,000 Waymo AVs could be under investigation.

Benzinga Edge Rankings show that Alphabet scores well on the Momentum and Quality metrics and offers a favorable price trend in the Long Term.

Price Action: TSLA surged 1.89% to $425.21 at market close on Tuesday, surging 0.16% further to $425.90 during the after-hours trading.

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