Sell the rumor, buy the news?

Maximizing long term fleet value over short term earnings, market efficiency and a scenario for 2023 involving bottoming macro and investor sentiment.

In past articles, I argued that the TSLA 0.00%↑ investment case has transitioned from ‘disruptive growth’ to ‘growth at a reasonable price’ (GARP). GARP is a very popular market segment, appreciated by investors for its predictability and because it is straight forward to value. EPS takes the centerstage and investors assign a multiple to it based on the growth ra…