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Unless you’ve been stuck on a mountaintop since October, you know Twitter has had Elon Musk’s undivided attention since he closed the $44 billion deal to buy it.
That’s led to charges that no one’s minding the store at Tesla Inc. (NASDAQ: TSLA). Activist investor Leo Koguan, Tesla’s third-largest individual shareholder with a $3.6 billion stake, has been extremely vocal about this, saying “Tesla needs and deserves to have [a] working full-time CEO.”
It’s understandable why Koguan and countless other shareholders feel that way. Musk has sold $23 billion worth of TSLA this year, and the stock is sitting 65% below its highs.
But let’s be clear: It’s down, but Tesla stock is still up around 400% from its “COVID Crash” 2020 lows, making it one of the best performing large- or mega-cap stocks of the era.
Now, it’s come to light that another $10 billion “Gigafactory” is in the works, and it seems Musk is stepping out of his role as Twitter boss. These are some of the reasons why Garrett Baldwin is putting TSLA back in the “Moonshot” category.
Garrett was one of a few analysts to point out Tesla’s hiring of an energy trading team last year, which opens up the possibility that Tesla may begin wholesale energy trading at scale – a massive potential revenue booster.
While sales could drop as recession looms, there could be some price resistance at the $140 level as we saw in late 2020. TSLA is still expensive on its P/E ratio – it’s currently at a 4.2x EV/sales for the next 12 months, but estimates for revenue growth (based on sell-side analysts) are at 46% and 39.2%.
Watch Shah Gilani and Garrett Baldwin reveal whether or not they’re buying Tesla stock right now…
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