Three Reasons to be Bullish on TSLA

April 23, 2024

The set up ahead of Tesla earnings (April 23 after the bell) is what dreams are made of for Tesla Bulls.

  • TSLA shares are down more than -60% from 2021 highs.
  • Short interest is the highest its been in 3 years.
  • Perceived competition is mounting -- in China from BYD and domestically from electric players like RIVN and even traditional auto makers. 
  • The narrative surrounding CEO and Founder Elon Musk is somewhat skeptical, focused more on his compensation package than functional genius.
  • The street is expecting a big move (9%)
  • Most importantly: LikeFolio data is heating up...

The following three charts outline our Bullish thesis -- for TSLA earnings and beyond...

  • Consumer mention buzz shows increasing divergence.

Divergence in this instance means mention buzz is heading higher (+31% YoY) while TSLA stock heads lower. This growing gap between stock price and mention volume is likely fill, and we are betting the stock will follow mentions higher.

  • Wide-spread Full Self Driving (FSD) adoption

Consumer searches for Tesla FSD hit all-time highs last month as Tesla pushed updates and improvements to its self-driving platform and dropped the price of a monthly subscription. It's important to note that during this massive adoption of a new and futuristic technology, Tesla sentiment only moved by -3 points -- impressive considering the mention buzz growth displayed above. This bodes well for future FSD upgrades down the road.

And most importantly...

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