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After a news report claimed that Tesla Inc. (NASDAQ:TSLA) was looking to replace CEO Elon Musk, a longtime Tesla bull dismissed the idea, calling the likelihood of such a move extremely low.

What Happened: On Thursday night, Gary Black, the managing partner at The Future Fund LLC, and a Tesla bull for years, addressed speculation about Musk’s potential ouster in a post on X, dismissing concerns regarding the board seeking his replacement.

In his post, Black said if Musk stepped down as CEO but stayed on as a Chief Technology Officer or a Chief Product Officer, Tesla’s stock could drop 5% to 10%. A complete departure, he warned,…