Avoid buying Tesla at current levels. The core car business is shrinking — 50,000 unsold cars, falling margins, and a brand damaged by Musk’s politics. The robotaxi and Optimus bets are real but years away from mattering financially, and they keep getting delayed. You’re paying a P/E of ~300 for a company earning like a mid-tier automaker. If you already hold it, be honest about whether you’re invested in a thesis or just hoping it recovers. The only scenario where buying makes sense now is if you have genuine conviction that Cybercab or Optimus scales by 2027 — and even then, much of that upside is already priced in. Wait for either a much lower price or actual proof of execution, not more promises on earnings calls.​​​​​​​​​​​​​​​​