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Is It Time To Give Tesla Another Chance?


Back in the middle of January, I wrote a piece here explaining why after years of maintaining a base position in TSLA off of which I had traded, often quite profitably, I was selling my entire holding and getting out. In that article, I laid out the two main reasons for that decision. First, the business climate had not turned out as many expected, with subsidized overseas competition in the EV space developing quickly, forcing Tesla to cut their previously enviable margins. Then there was the “Musk factor”. Elon had been talking about quitting if he wasn’t given more power and, with earnings coming up, some drastic action looked distinctly possible.

One could argue that his presence at the company has become more of a liability than an asset given the distractions of Twitter and other interests and his recent tendency to take a partisan political stance that will alienate many of the company’s natural customers. But, I reasoned, the prospect of a Muskless Tesla would still prompt a big selloff in the stock. Should the company’s iconic founder and leader leave, or even increase the intensity of his threats to do so on the analysts’ call that would follow the earnings release, I didn’t want to get stuck holding a stock that might gap dramatically downwards.

The second part of that reasoning was, let’s face it, completely wrong. The threats to leave turned out to be either childlike sulking or maybe some kind of marijuana-induced…

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