TS
Tesla, Inc.$TSLA
Auto - ManufacturersMixed sentiment⚠
Tesla conversation is dominated by SpaceX overtaking it in market cap on day one of its IPO, with shareholders openly asking Elon to merge the two companies. Bulls cite the Cybercab EPA certificate of conformity, Goldman raising Q2 delivery estimates from 400k to 420k, FSD progress in China and a long-running bullish ascending-triangle setup. A skeptical camp argues Tesla has lost its mag-7 identity, that it is now a speculation on what the eventual SPCX exchange ratio will be, and that the historically strong June month is still down five percent. Positioning chatter is split between accumulating sub-$400 for a merger trade and trimming as SPCX absorbs the speculative dollars.
Driven by hype
Tesla is still the world's largest pure-play EV maker but increasingly trades as a robotaxi and FSD optionality wager — and this week SpaceX's IPO openly stole both the headlines and a meaningful share of the Musk-trade flow. Revenue grew 16% YoY last quarter at a 4% operating margin, the trailing P/E sits near 326x, and June (historically Tesla's strongest month) is down ~5%. The Cybercab EPA cert and Beijing FSD footage are real but the float has tagged the same band for months — sitting right at the 50-day MA and just below the 200-day — and 'merge Tesla with SpaceX' jokes are doing work the chart should be doing.
