Tesla Inc (TSLA-Q)

Cult stock. Losing market share. People are paying up for what it's going to do with robotics in the future. He's not. 

Very volatile. The story is shifting a bit from rapid EV growth to managing its scale. Q2 saw delivery fall 5% YOY, but still beat reduced expectations. Price cuts help, but continue to pressure profitability. Limited near-term upside. Value is 2/10. Compressed margins, rising Chinese competition. Political drama as well.

No doubt the company has challenges. Earnings growth is -20% in a quarter and will happen again, where do you see that turn in growth? It's not enough for Elon Musk to say, I'm back. Yes, Tesla is developing robotaxis, but so is Waymo at Google in partnership with Uber.

The fundamental business, EVs, is in decline, so expectations are -13% and -22% revenues and earnings. But the market will give Tesla the benefit of the doubt in robotics. She bought it recently at $293 and is now at $333. This will be rangebound from $260-350. Now, sell calls. This won't change until there are new revenue streams to monetize. You can make money selling calls.

He hopes their robotics and self-driving divisions produce returns over time. He wouldn't buy ahead of the print, but this stock is a call-writer's dream. He is not expecting a big number from them next Wednesday.

Remarkable company in many ways on innovation. Trades at 165x forward PE, with people banking a lot on robotaxis. Interesting technology, but you can buy GOOG and get Waymo for free. Waymo is actually ahead of where TSLA is on robotaxis.

Investors vote with their dollars. Would be interested if they breaks $360, but time is a factor, because he expects a correction in August (historically true). Wait, and if it breaks out at $360, add a little.

At today's valuation, you'd have to believe it will hit it out of the park in all areas and be super-profitable. He believes that the best EVs in the world today are Chinese, and at spectacular prices. Car manufacturing is not an easy gig. Buying this needs a major health warning attached.

Is not an investment, but a trade. Look at its volatility. At $350, write some calls. He targets $410. He constantly trims his holding. Is great to buy under $300, and sell above $350. It deserves it premium among car companies. Their future lies in robotics, not EVs. Musk plans to sell robots in 2026.

Won't touch it. Leadership is far too volatile by throwing tantrums and silliness. If it's a car company, it is ridiculously priced, and if it's tech, show me the success. Yes, SpaceX is incredibly successfully, but not Tesla.

This has been downgraded, including two today, but he doesn't think Musk is done--he has another act coming, namely the robo-taxis. Don't bet against Musk.