All the negative news about
$TWTR, Elon Musk, price cuts, weaker demand and higher car financing costs have prompted many Tesla bears to come out of the woodwork. They are declaring
$TSLA to be over. Just saw a Tweet comparing
$TSLA to
$BB - a once hot tech story gone awry. That's a pretty dire scenario!
I do not believe I have seen as much negativity on
$TSLA since the whole $420 controversy, mixed with their make-or-break production ramp on Model 3, circa 2019. It was around the same time when
$MS Adam Jonas issued a $10 (pre-splits) bear case on
$TSLA, because he saw potential demand issues in China and it befitted the market narrative then. He got a lot of press for issuing that report. And in the other corner, we had Cathie Wood out there on CNBC defending Tesla with her $4000 price target. Most people thought she was nuts.
Here we are again - deja vu ! China demand problems. Elon gone mad. Cathie Wood gone madder with even bolder projections. Bears are out in full force.
Never a dull moment with Tesla for sure. So much about Tesla - the stock, CEO, that Cyberpunk Cybertruck, its vision - is polarizing. Musk thinks
$TSLA will be worth more than
$AAPL and Aramco COMBINED. Shorts love to bet on this stock because the volatility is irresistible. Longs tend to be Musk fanboys and fangurls - Endless Love.
It is a bumpy ride for both camps. I will be writing another Tesla article on my
blog Consume Your Own Tech Investing in the coming days. Meanwhile, have a read of my Q3 2022 review below and subscribe: