Tesla shares
Investment Thesis
Tesla trades at extreme valuations (200x forward earnings, 30x 2030 EBITDA) driven by robotaxi optimism, while core automotive business deteriorates with 13% Q1 delivery decline and collapsing European sales. California DMV's deceptive marketing ruling introduces regulatory risk that could delay autonomous deployment in largest US market, creating asymmetric downside as reality diverges from valuation.
Catalysts to Watch
California DMV enforcement actions, Q4 delivery numbers, robotaxi fleet expansion metrics, European registration data, regulatory approvals or denials, analyst downgrades
Why It May Work
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Timeline
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