Gary Black warns TSLA could break below $300 as RSI hits oversold 27
Fund manager Gary Black of The Future Fund warned Tesla shares could fall below $300 and SpaceX below $100 in the coming weeks — arguing both companies trade above 175x their FY2026 expected earnings, leaving them exposed as AI-related valuations unwind.
Gary Black, managing partner of The Future Fund, posted on X that he expects TSLA to fall below $300 a share and SpaceX to break $100 a share "on valuation concerns" — arguing both companies trade above 175x their FY2026 expected earnings, a level he considers excessive as AI-related valuations continue to unravel.
Technical indicators are flashing bearish too: Tesla's daily RSI sits at 27.03, deep in oversold territory. The key support zone is $300–306, with the daily lower Bollinger Band at $306.47 and the S1 pivot support at $301.70.
Tesla closed at $307.44 on Tuesday (July 28) and slipped a further 0.20% in after-hours trading — still inside the support band, but with little room left.
Black said a break below $300 could trigger stop-loss orders and unwind long positions, accelerating the selloff — though this remains his personal forecast rather than an independently verified figure.
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