Tesla, Inc.’s (NASDAQ:TSLA) Cybertruck launch is generating a storm of excitement on social media, and one bullish investor is adding to the fervor.
What Happened: Gary Black from Future Fund recently reiterated his positive stance on the electrified pickup truck, calling it “big, bold, and gorgeous” during a CNBC interview.
With a staggering 1.9 million pre-orders, Black believes the Cybertruck, priced below $50,000, will become a “rolling billboard,” captivating onlookers and driving even more orders for other Tesla models.
“And people going to see it, they’ll be like, wow!” he said, adding that people will go to the website and order a Model 3 or Model Y or Model S or even a Cybertruck.
He predicts the Cybertruck won’t cannibalize existing products as it targets pickup truck enthusiasts in their 40s and 50s.
“So it’s going to be a home run for Tesla and it’s going to really catapult the stock,” he said.
See Also: Best Electric Vehicle Stocks
Cybertruck’s Positioning: The Cybertruck’s impressive specs add to its appeal, Black said, adding that it boasts incredible power, going from 0 to 60 mph in just 2.5 seconds and matching an F-150 pickup truck’s towing capacity.
“I’m a big guy, I’m 6′ 2″ you know, and I stand next to it, and the thing just dwarfs me. It’s huge but it’s beautiful when you look at it,” he said.
“There is nothing else on the market like it.”
With a range of 300 to 500 miles, depending on the trim, the vehicle’s massive battery offers exceptional value for pickup truck owners.
CT Potential: Black envisions the Cybertruck’s success not only in the U.S. but also in Europe and Asia, creating a halo effect for Tesla’s entire lineup, much like the Model Y launch did in 2020.
Its launch, according to Black, will have the same effect as the Model Y launch, which in 2020 pushed up volume growth from 36% in 2020 to 87% in 2021 and the stock seven-fold.
Tesla ended Wednesday’s session down 0.35% at $264.35, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read Next: Tesla Drives Past Toyota To Take Lead In California’s Auto Market Race
Photo via Shutterstock
