Below is a note written by CEO Keith McCullough on why we're adding Tesla (TSLA) to the short side of Investing Ideas today:
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We generally don't like shorting Tesla (TSLA) into Elon's quarterly storytelling events… With that behind us and the stock making lower-highs within a Bearish @Hedgeye TREND (see our Risk Ranges product for a daily update on TSLA and the FAANGs), I'm reminded of Jay Van Sciver's Institutional Research: "Our recent deck on Tesla reviewed why the company would need to look abroad to maintain sales, and our data suggest that remains the case. We now have YoY S&X test drive activity data, and S&X test drive slots booked look to be down roughly 50% vs. January 2018." Sell on green, KM |
