To The Moon

$Tesla Motors(TSLA)$ 

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Bearish for the following reasons and doubt TSLA will recover any time soon:

😟 Given uncertainty in today's higher-for-longer economy, the general public may not see the need to indulge in buying 'premium' cars like TSLA. The sane majority would avoid buying luxurious cars and taking unnecessary loans (high interest rates) at this point in time. 

😵‍💫 Unless you're in Singapore where cars are subjected to a 'lifespan' of 10 years, most car owners worldwide use their cars beyond 10 years;  and in the case of USA, cars are used for at least 12.2 years (2022 statistics - fifth straight year that the average vehicle age increased). This shows that vehicle sales are harder and harder to come by.

😵 There's a massive gulf between certain American states when it comes to EV ownership in 2022. While California residents owned an average of 232 electric cars per 10,000 people, that number fell to a lowly eight per 10,000 in North Dakota and Mississippi. Research by Edmunds.com found that Toyota was the best-selling car brand in 2023, alongside other brands like Ford, Chevrolet, Honda, Ram, Tesla and GMC. This goes to show that TSLA faces stiff competition from other legacy brands bringing EV vehicles to the table.

🥴 Despite the increasing cost of car ownership, Americans by and large aren't giving up on vehicles. Instead, they seem to be shifting toward larger cars and EVs (may not be TSLA, but other brands) — OR TRYING TO AVOID BUYING NEW CARS COMPLETELY.

🤯 CEO Elon Musk is too erratic for investors' liking.

🧐 TSLA is perhaps one of the brands with the highest vehicle recalls, making their cars seem unreliable. 

😟 TSLA's self-driving capabilities remains questionable / illegal in many states today and TSLA faces a slew of law suits against them for deaths and accidents pertaining to this driverless function. It is said that these cars tend to disengage suddenly and swerve whenever disengagement happens. We have to admit that though these functions seem visionary and cool, it's safety is still questionable.

😩 Elon's cult of followers may think that cutting more than 10% of its global workforce is something to rejoice about...but... I beg to differ. This cut underscores the deep cracks and challenges that TSLA faces and that things may start going downhill from here. 

😓 Price cuts won't bode well for TSLA too. You don't see other car companies aggressively cutting prices to get market share. BRANDS LIKE TOYOTA JUST DO, SOMEHOW. And in the EU, best-selling car brands include Volkswagen, Toyota again, Audi, BMW, Volvo, Mercedes, Honda, Jaguar, Mitsubishi, Nissan, Suzuki etc, besides Tesla.

😶‍🌫️ Factoring the above points, I doubt recovery is on the Horizon for TSLA.

🤨 Even if financials and sales are good, market is mad. People are mad. Market sentiments are mad. If one notices, stocks these days drop upon results release, irrespective of whether sales and financials are good. Sure, they rise at first, but an unsustainable rise that ends up closing in the reds. Intriguing isn't it. People are just over emotional and over reactive. They sell on every move. Sell on something called 'poor guidance' even if financials beat analysts' estimates lol.

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 I am not buying the dip. 

Cheers to whoever still picking up on TSLA's stocks. 🤗🤗

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I am still anticipating a market correction of at least 10% across the board and will only start picking up stocks then. Even my favourite crypto stocks $Marathon Digital Holdings Inc(MARA)$  $CleanSpark, Inc.(CLSK)$ $Coinbase Global, Inc.(COIN)$     are way over run, and due for a correction soon. Will only start bargain hunting when the time is right 👌 Market is irrational as always. There is too much FOMO this week, a pent-up greed stemmed from last week's sell-off. Do yall think the bull run is sustainable?  

Lemme know what yall think! 

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Don't forget, what goes up crazily fast can come down equally fast when fear and panic creeps in. Protect your portfolios and take the necessary profits when yall can. 

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