Tesla, Dyson Electric Car, Strategy Update
In a surprise announcement last night, Tesla scheduled its 3rd Quarter earnings call for tomorrow (Wednesday) after market close.
It's a gross understatement to say that such sudden and short notice is extremely unusual. No sense speculating what shenanigans they're up to now.
The stock is up considerably today in part because
the vast majority believe there'll be positive upside after the Q3 announcement. Such one-sided opinions tend to be wrong, and any run-up in share price may already be done. We'll see.
Most of the rally seems due to chicken-shorts covering and famed short-seller Andrew Left dropping his lawsuit against the company and announcing that in fact he is now long the stock. The breathlessly bullish report he released is full of standard-issue fantasies and shameful lack of understanding, while ignoring the many and massive red flags flapping stridently in the wind.
We'll be kind in guessing that he's simply a self-serving opporunist cashing in on the suspiciously convenient timing of this total about-face, otherwise we'd have to say something much worse.
His opinion - short or long - has had no efffect on ours, so it's inconsequential other than perhaps as a gift to provide the chance to short more from much higher levels. Perhaps in due time once the latest hype and dust settles.
There's widespread consensus that Tesla will juggle their numbers by whatever means possible to show a Q3 profit or at least positive cash flow. If so, we're confident it'll prove to be a mirage by Q4 and more so once the results of ongoing federal investigations into the company are announced.
Even if we pretend that Tesla is legitimately an automobile manufacturing company operating with no hint of fraud, malfeasance or considerable accounting trickery, at best its stock would be fairly valued far, far below $100.
Here's a fascinating and relevant thread on Twitter we recommend reading.
Total disconnects in markes and sentiments can last for months, even years however, and the scope of said disconnects can become far more extreme than anyone reasonable would imagine.
We're happy to remain short Telsa, especially in light of news such as ...
Bloomberg: Dyson Picks Singapore to Build Electric Cars Rivaling Tesla
There's valuable background in this article we posted two months ago.
Our Tuesday Strategy was sound, but we missed a couple of proposed sales by very little.
No problem. We'll leave those offers open and so too our bids to repurchase short positions we recently sold for big and fast gains.
It's a gross understatement to say that such sudden and short notice is extremely unusual. No sense speculating what shenanigans they're up to now.
The stock is up considerably today in part because
the vast majority believe there'll be positive upside after the Q3 announcement. Such one-sided opinions tend to be wrong, and any run-up in share price may already be done. We'll see.
Most of the rally seems due to chicken-shorts covering and famed short-seller Andrew Left dropping his lawsuit against the company and announcing that in fact he is now long the stock. The breathlessly bullish report he released is full of standard-issue fantasies and shameful lack of understanding, while ignoring the many and massive red flags flapping stridently in the wind.
We'll be kind in guessing that he's simply a self-serving opporunist cashing in on the suspiciously convenient timing of this total about-face, otherwise we'd have to say something much worse.
His opinion - short or long - has had no efffect on ours, so it's inconsequential other than perhaps as a gift to provide the chance to short more from much higher levels. Perhaps in due time once the latest hype and dust settles.
There's widespread consensus that Tesla will juggle their numbers by whatever means possible to show a Q3 profit or at least positive cash flow. If so, we're confident it'll prove to be a mirage by Q4 and more so once the results of ongoing federal investigations into the company are announced.
Even if we pretend that Tesla is legitimately an automobile manufacturing company operating with no hint of fraud, malfeasance or considerable accounting trickery, at best its stock would be fairly valued far, far below $100.
Here's a fascinating and relevant thread on Twitter we recommend reading.
Total disconnects in markes and sentiments can last for months, even years however, and the scope of said disconnects can become far more extreme than anyone reasonable would imagine.
We're happy to remain short Telsa, especially in light of news such as ...
Bloomberg: Dyson Picks Singapore to Build Electric Cars Rivaling Tesla
There's valuable background in this article we posted two months ago.
Our Tuesday Strategy was sound, but we missed a couple of proposed sales by very little.
No problem. We'll leave those offers open and so too our bids to repurchase short positions we recently sold for big and fast gains.
posted by C. Guinness @ 3:30 PM
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