$Tesla Motors(TSLA)$ I have been running a short bet against Tesla since July last year using Put options. Despite a minor setback in Q4, the bet is still up around 80%. After re-evaluation of the thesis, I decided to continue the short bet. I think risks are still skewed to the downside in 2024. Tesla is still valued higher than the 10 largest car manufacturers globally combined, but sales growth will likely slow down further this year and profit margins are unlikely to increase again. We will see more hype around AI and robotics, but there is no timeline for when Tesla will deliver products.
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