Tesla's valuation is too stretched to justify buying now. Slava cites a 189x forward P/E, falling Q3 deliveries, a 1.4% operating margin and negative free cash flow; other investments look preferable. x.com 

Tesla's 200x earnings multiple asks too much of weak current results and speculative future products. Third-quarter revenue fell 0.4% year over year and EBIT missed estimates by 25%, despite gross-margin and cash-flow beats. Robotaxis, humanoids and other future plans may have appeal, but impressive parts of the business do not make the stock worth its current price. x.com  x.com  x.com 

Keeping Tesla separate from SpaceX looks better for long-term shareholders because standalone businesses can receive more valuation credit. Tesla's stock trades on FSD and Robotaxi uptake and Optimus's intrinsic value, not Model Y sales or EV demand. Musk announced a committee to explore a merger, with a rumored $550-a-share takeout that would bring a quick pop. The chart targets $395, then $405, and $550 after a close above $440. x.com 

Tesla's fundamentals have not caught up with its valuation, since revenue has stayed basically flat for four years. x.com 

Tesla's $1.5T Elon premium looks unjustified while Musk seems to favor SpaceX for the AI compute buildout. Tesla shareholders missed almost the entire AI boom; owning xAI and building that infrastructure might have doubled Tesla's stock. Q3 adjusted EPS was $0.48, down 4% year over year; if Tesla were a non-Musk company, four such quarters at 10x earnings would mean $19.20 a share versus $386. Long-term company prospects remain attractive, but the stock is still not worth buying back. x.com  … Show more

Tesla's Robotaxi and Optimus can carry substantial value before major profits because future cash flows, growth and the chance of success matter more than current P/E. In an illustrative model, a one-year delay cuts opportunity value about 11% if payments stay unchanged; faster sustained growth can more than offset it, while reliable deployment can raise the assessed chance of success. These figures are not Tesla forecasts; investment costs and execution risk still matter. x.com 

Tesla's stock has decoupled from its fundamentals. Over the past three years the share price rose 47% while EPS fell 70% and free cash flow fell 7%. x.com 

Tesla's roughly 15x-sales valuation rests on a growth story while revenue is flat. A similar flat-revenue call in 2019 preceded a 20x stock run, but the current multiple still depends on that story delivering. x.com 

Tesla's seasonally strong fourth quarter makes shorting the stock here unattractive. A new bullish trend still needs a clear breakout above its 200-day moving average and price-channel resistance for confirmation. x.com 

Tesla still trades at roughly 300x earnings even after falling 14% today. x.com